The Chelsea ownership remains optimistic about the future, following a poor Premier League campaign, and backs Mauricio Pochettino to revitalise the Blues.
The consortium led by Todd Boehly and Clearlake Capital has endured a torrid first 13 months in charge at Stamford Bridge after sacking Thomas Tuchel and Graham Potter and failing to get any improvement from interim manager Frank Lampard in the final 11 matches of the campaign.
Chelsea's 12th-place finish was their worst since 1994 and, after spending more than £600million on transfers in their first two windows, the owners have come in for significant criticism But they are hopeful the appointment of former Tottenham and Paris St Germain boss Pochettino will get things back on track.
"It's been just over a year since we completed our purchase of Chelsea. It was and remains a privilege for us to be custodians of our wonderful club," said the owners in an open letter.
"We remain completely committed to the long term and sustainable success of our club and fulfilling that promise we made to you.
"We know the huge potential we must grow to develop Chelsea FC and it is a role we take seriously. Everybody working here is relentlessly focused on driving us forward.
"Clearly, for our men's team, it has been a disappointing season and there is a lot we can and will do better.
"For all the challenges of the past year, we are optimistic about the future. We are looking forward to welcoming Mauricio Pochettino as the head coach of our men's team in July.
"We are building a modern scouting, talent identification, and recruiting infrastructure within our sporting department, led by Laurence Stewart and Paul Winstanley, which will help us to identify and transform the squad around elite talent, a squad capable of consistently competing to win the Premier League, raise domestic cups and compete and win at the highest level in European football.
"We have also appointed Chris Jurasek as CEO to drive our business forward off the pitch, which in turn will make us more sustainable on the pitch."
While Chelsea men's team have struggled this season, their women's team continues to excel and the owners were full of praise for manager Emma Hayes.
"Our women's team has celebrated another astonishing season, winning the double with an unprecedented fourth successive WSL title and third successive FA Cup," the letter continued.
"There are not enough positive things to say about Emma Hayes, her backroom staff, and squad who have dealt with adversity, injury and Emma's period of absence.
"Their character and hunger to win is second to none."
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