Claudio spies glimmer of a silver lining

You study Claudio Ranieri to see if he isfeeling his neck in anticipation of the executioner's axe. You can scarcely blame Chelsea managers if they develop that mannerism, because as a rule they can be as optimistic of a long and healthy relationship with the club as wives could with Henry VIII. Barely had Ranieri, an anonymous figure despite conspicuous success at Fiorentina and Valencia, been installed early last season as the Blues' seventh manager in a decade, than the date of his demise was being vigorously debated.

But no; after training on Friday, though frequently animated and a trifle testy when the question of his rapport – or lack of it – with the supporters is broached, he is mostly of sanguine disposition. When Ranieri was appointed, his assessment was that it would require three years to win the championship. Now he calculates: "I think we are half-way. We are conceding very few goals and that is a very good basis to build on. But [Boudewijn] Zenden, [Mario] Stanic and [Jesper] Gronkjaer are not ready, and [Emmanuel] Petit is injured. I want the maximum. We can only improve because the stars aren't playing."

Yet the former central defender with Roma, Catanzaro and Catania will be conscious that a year is a long time in Chelsea politics. Even a brief perusal of their history will have told him that nothing is that certain at the Bridge, where waters are, obligingly for headline writers, more likely to be troubled than possessing the healing powers of Lourdes.

Ranieri's first anniversary passed three months ago, and despite Chelsea's ignominious elimination from the Uefa Cup – at an estimated cost of £7m – by the might of Hapoel Tel Aviv, amid the castigation of those players who refused to travel, there is no evidence yet of chairman Ken becoming fidgety.

And why should he? Having secured their semi-final place in the Worthington Cup by dint of victory over those capital-phobes Newcastle on Wednesday, triumph against Liverpool this afternoon would hoist Ranieri's team to within six points of the leaders. Only three games lost, including one with that depleted team in Tel Aviv, should be compelling enough evidence that, by degrees, Chelsea are becoming the team that he and Bates desire.

It is imperative that they do so. Deloitte and Touche reported recently that Chelsea are the seventh richest club in the world, but that is based on turnover. In other respects, the books make less attractive reading. The club made a loss of over £11m in the last financial year, in which turnover and merchandising profits were both down, and have reported debts of nearly £98m. That figure includes a £75m Eurobond loan, to be repaid by 2007.

Patience may not always be the most obvious of Bates' virtues, but the irreverent chairman, who became a septuagenarian recently, and next year celebrates 20 years at the club he bought for a pound, is seemingly prepared to allow Ranieri the time and resources to fulfil expectations.

Predominant among those is the Champions' League, and with his defence – notably the central partnership of the England squad contender John Terry and the Frenchman William Gallas – resolute, and his strikers, particularly Jimmy Floyd Hasselbaink, explosive in front of goal, that is attainable. Ranieri, who lavished £30mon Gallas, Zenden, Petit and Frank Lampard, will be acutely aware that not much less will satisfy Bates.

The impending departure of the managing directorColin Hutchinson, who was primarily responsible for Ranieri joining the club, suggests that next summer could well be another watershed – unless such satisfying progress has been made that continuity, not a commonly used noun in the Blues' vocabulary, is preferred.

Chelsea remain an enigma, capable of defeating Manchester United 3-0 on their own turf a week after being verbally bruised at home after an afternoon of barren mediocrity against Blackburn Rovers. Worse, from the manager's perspective, was that some detractors were hailing his predecessor, Gianluca Vialli. "Vialli, he won five trophies, I don't win nothing yet," he says dismissively. "Anyway, against Manchester United the fans were very happy." He utters a contemptuous laugh. "But for me, it is only important that Chelsea win games. That is my imperative. I don't think about Ranieri, I think about Chelsea. I work hard at my job. I am not the public relations officer."

You imagine that this 51-year-old who, with his wife, enjoys collecting impressionist paintings, could be an entertaining conversationalist, but for the language barrier in his adopted land. And it is that lack of English and a perceived emotion bypass which render him a rather distant figure on the touchline during games and donot help him gain the faith of the Bridge regulars.

It was put to him that his task had not been aided by a poor relationship with the supporters. He is dismissive. "Put on your glasses," he insists, with irritation. "I have a good relationship. I think they are fantastic. Now you say it is me against the fans. OK you write it. It's very strange. In the street, the fans are all with me. Maybe they aren't journalists."

His bitter edge may be justified, but what has mystified journalists and spectators is Ranieri's tendency to change personnel and formations, almost obsessively, during and between matches. But in that respect he comes with previous form. At Valencia, he is reputed once to have deployed Michele Serena in five positions in one match. Valencia won. The coach famously justified that policy by declaring: "The Beatles' first song was no good and people said Van Gogh's first painting was no good. I am no Beatle or Van Gogh, but I know if things are not great at first you try to do better. If we play well, then I won't change things. But if something is not good, then I will."

At least recently, he has stayed relatively constant with his starting line-up – Liverpool are likely to encounter the same team that started against Newcastle – even if he still rotates during games. It has meant that the talismanic Gianfranco Zola has not started for five games. "Yes, but in my opinion, Eidur [Gudjohnsen] and Jimmy [Floyd Hasselbaink] are playing very well," he maintains. "Gianfranco is very good for us, but at the moment I want to continue this way."

Ranieri regards today as "the ultimate test against the top of the class. Liverpool are very compact, strong. Everybody works hard." The Italian adds: "It's not important if you play well, or don't play well. It's important to take the points. But I think we are playing well because we make a lot of chances, and don't concede goals."

His chairman sees it in slightly different terms. When discussing the club's finances in Wednesday's match programme, Bates referred to "the intangibles" – the players. "How about a few more goals from those intangibles?" he said. At 70, Bates is showing no sign of losing his teeth. For the moment, Ranieri is displaying no evidence of losing his authority.