A megalomaniac, such as Mad Dog, uses a club like Chelsea to feed his delusion that he is the sole reason why the club is successful.
Such a man can, for a short while, put up with finishing second, provided that the signs are there that success is around the corner. What will be humiliating for Mad Dog is the fact that the club is failing miserably. His paranoia and delusion are so great that he will be unable to associate the failure with any part of himself, so he will blame others. He won't want to blame The Smug One, because he will have learnt that the minute he does that, The Smug One will bolt like a startled rabbit. I presume that Mad Dog has, in the background, been blaming everyone else, though, which, of course, has only hastened the club's demise, as morale has slowly seeped out of every inch of the club. Soon, there will only be The Smug One left to blame, and that is where the end-game will, inevitably, take us.