The Chelsea ownership group have written an open letter to supporters addressing their first year in charge of the club.
Todd Boehly and Clearlake Capital completed their takeover in May 2022, and things have not gone to plan since then.
The Blues finished 12th in the Premier League last season despite spending around £600 million during the last two transfer windows.
The owners have now addressed fans and admitted they must improve in the future.
“Our promise to you was to make our fans proud,” the statement read.
“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 and it is a role we take seriously.
“Everybody working here is relentlessly focused on driving us forward.
“It has been a disappointing season and there is a lot we can and will do better.
“Throughout these difficult periods, our fans have supported our players and our team across the country and Europe with unfailing loyalty.”
Chelsea will head into the 2023/24 with a new manager after appointing former Tottenham Hotspur boss Mauricio Pochettino.
The Argentine failed to deliver silverware with Spurs and was sacked by Paris Saint-Germain after an underwhelming couple of years in charge.
Despite this, Chelsea’s owners believe he is the right man to take the club forward.
“For all the challenges of the past year, we are optimistic about the future,” the statement continued.
“We are looking forward to welcoming Mauricio Pochettino as head coach in July. We are building a modern scouting, talent identification and recruiting infrastructure within our sporting department, led by Laurence Stewart and Paul Winstanley.
“This 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.”
