Chelsea pay price of extravagance

Pity Fernando Torres. Every time he seems close to shaking off the black cloud that followed him south from Anfield to Stamford Bridge two years ago this month, someone comes along to remind us all just how little he has justified his pounds 50?million price tag.

For the first 18 months of his Chelsea service, his nemesis also wore Chelsea blue. Didier Drogba's powers appeared to be waning when Roman Abramovic's most extravagant Christmas splurge brought Torres to Cobham.

It worked like a tonic on the Ivorian, who responded to the challenge to produce his defining performances while Torres shrank in his shadow. With Drogba gone in a vapour trail of gilded memories of his winning turn in Munich, this season appeared to offer hope. Everything has been done to try and wring something approaching his best from the striker, from guaranteeing him a starting place - ask Roberto Di Matteo, sacked after leaving him out - to recruiting Rafael Benitez as his replacement.

There has been a short-term bounce, with seven goals in the 12 games since Benitez arrived. But last night, with Benitez eyeing a Wembley final and a shot at a trophy, it was Michu, the Spaniard whose gifts evaded all but the sharp eye of Michael Laudrup, who showed up his compatriot. The comparison was irresistible on a night that offered everything Abramovic wants from his new Chelsea except the cutting edge that Torres was supposed to bring.

While Torres labours under a heavy price tag and a modest record of 26 goals in 75 appearances for Chelsea, Michu's value is enhanced with every goal in the most startling of debut seasons. Recruited from Rayo Vallecano, he cost Swansea just pounds 2?million. With 15 goals already this season that amounts to about pounds 133,000 a goal, or one-fifteenth of the price of every Torres goal.

In a first half that threatened to fall flat as the two sides passed relentlessly without punch, he was again the difference. With Chelsea increasingly authoritative in possession Swansea were starved of the ball and Michu had nothing approaching a clear chance until the 39th minute, but when the opportunity came he did not waste it.

Chelsea had shown great poise on the ball throughout the half, managing some of their most coherent football of the season, but a single mistake was enough to let in Michu. When Branislav Ivanovic applied a heavy touch to a ball rolled to him by his goalkeeper Gerhard Tremmel, Swansea midfielder Jonathan de Guzman was on him, ferrying the ball immediately to Michu on the edge of the Chelsea box. He took a single touch away from Gary Cahill and then lashed the ball left-footed past Ross Turnbull at his near post. It was as emphatic as it was incisive, and it left the locals seething.

There are arguments in Torres's defence. John Hollins is among those who believes that a team committed to the close-passing skills of Juan Mata, Eden Hazard and Oscar do not play to his strengths.

It is a nuanced point that was lost on the disgruntled last night. By the middle of a frustrating second half they were chanting for Demba Ba, above Torres in the fans' affections it seems after a single appearance and two goals in the FA Cup against Southampton. When the Senegalese finally replaced Torres on 80 minutes the cheer that rang from the Matthew Harding Stand amounted to a vote of no-confidence.

Despite the European Champions flag still flying above Stamford Bridge there is limited patience with Abramovic and his work-in-progress. Benitez would not win a popularity contest with Sir Alex Ferguson at the moment, and his declaration that time is up for Chelsea's "legends" has converted no one.

Bruce Buck, the chairman of the board that has sanctioned the clear out of the over-30s, starting with Frank Lampard, was left in no doubt as to the fans feelings before kick-off. On the pitch to help Peter Bonetti present Petr Cech with a bauble to mark his 400 appearances from the club Buck was booed, and Lampard's name sung loud and clear.

For the owner's public proxy, and the club he chairs, it was a chastening end to a day on which Chelsea's accountants proved more creative than their players. Accounts for last season filed at Companies House revealed that the first profit of the Abramovich era, announced last November, was made possible by the one-off cancellation of shares owned by BSkyB that brought a paper benefit of pounds 18?million.

On the field and off, more substantial results will be needed to keep Abramovic and the faithful happy.