Chelsea, the defending Premier League champions and one of the deepest and most expensive clubs in the world, is in a major funk.
That funk just entered a new realm, after the West London team lost to bottom of the table Wolverhampton on Wednesday evening.
Chelsea has managed just 10 points in their last 11 games and have slipped from top of the table to fifth place.
Before the skid began, manager Carlo Ancelotti, formerly of AC Milan, seemed as secure as any head man in the league. Perhaps only Sir Alex Ferguson, manager of Manchester, had a more confident standing among managers in job security.
How quickly things can change. Ancelotti himself expressed surprise to the media that he still had his job, and this statement was made before the devastating loss to the Wolves.
"I am a lucky man," he told Sky Sports. "I understand that a lot of coaches are sacked with results like these."
Chelsea owner Roman Abramovich has not been one to sit idle while his manager struggles. He let Jose Mourinho, Avram Grant and Luiz Felipe Scolari go after what he considered "bad spells".
One has to wonder, despite how happy Abramovich has been with Ancelotti, how long the Italian can stay in charge at Stamford Bridge.
Ancelotti does have Chelsea in the final 16 of the Champions League, and they only trail fourth place Tottenham by a single point in the standings.
One would hope the owner will see it out a bit longer with his top man and give Ancelotti a chance to turn this thing around. The title may be slipping away, but a top four finish and Champions League glory are still within reach for the Blues.
But can Abramovich be patient? It is a trait he has not shown in the past.