Chelsea Fucked?

[RobbySwanson]

So no more Chelski...? Just straight up Chavs now?

 

[Bradley]

So no more Chelski...? Just straight up Chavs now?

Other nicknames are available.

 

[bluebell]

Should be an attractive option for buyers giving the "ready-made" team to challenge and their academy's success over the years?


[article]I would like to address the speculation in media over the past few days in relation to my ownership of Chelsea FC. As I have stated before, I have always taken decisions with the Club’s best interest at heart. In the current situation, I have therefore taken the decision to sell the Club, as I believe this is in the best interest of the Club, the fans, the employees, as well as the Club’s sponsors and partners.

The sale of the Club will not be fast-tracked but will follow due process. I will not be asking for any loans to be repaid. This has never been about business nor money for me, but about pure passion for the game and Club. Moreover, I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of the war in Ukraine. This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.

Please know that this has been an incredibly difficult decision to make, and it pains me to part with the Club in this manner. However, I do believe this is in the best interest of the Club.

I hope that I will be able to visit Stamford Bridge one last time to say goodbye to all of you in person. It has been a privilege of a lifetime to be part of Chelsea FC and I am proud of all our joint achievements. Chelsea Football Club and its supporters will always be in my heart.

Thank you,

Roman[/article]

He puchased the club for £140m + other costs, he has lent the club £1.5bn. If he gets just over £3bn, he has still made £1bn before tax.

 

[Beamrider]

It’s £1bn owed to him per 2021 accounts.
I think there will be some confusion over this debt as if the purchaser structures the acquisition correctly, the debt will not be written off, rather the purchaser will pay £x for the shares and the balance of the price to buy the debt (ie right to receive £1bn) off whoever the lender is at full value of £1bn. This will allow them to get any future surplus cash out of the business more easily (no need for profits to pay dividends) and they’ll save £5m of stamp duty on the purchase (so reduces the acquisition cost). Not a huge number in the grand scheme but it’s an easy £5m to save.

 

[Beamrider]

He puchased the club for £140m + other costs, he has lent the club £1.5bn. If he gets just over £3bn, he has still made £1bn before tax.

Sale of shares wont’t be taxable - UK exempts sales of shares in trading companies from tax where they seller is a UK company.

 

[Red rose]

 

[the count]

Conor McGregor wants to buy Chelsea so that is them truly fucked.

 

[beejay]

He puchased the club for £140m + other costs, he has lent the club £1.5bn. If he gets just over £3bn, he has still made £1bn before tax.

There's no way he is selling the club, writing off all his loans and putting all receipts into a fund for the Ukrainians. Must be some smart accountancy way of structuring the deal

 

[Bradley]

Conor McGregor wants to buy Chelsea so that is them truly fucked.

They would make a great couple.

 

[Beamrider]

There's no way he is selling the club, writing off all his loans and putting all receipts into a fund for the Ukrainians. Must be some smart accountancy way of structuring the deal

“Net proceeds” can mean anything you want it to. It sounds like it means he’s giving a lot away, but he almost certainly isn’t. He probably views it as a fair price to pay for the immunity he’s got out of owning the club all this time.

 

[Red rose]

Two mins in ,Luton score ,1/0

 

[Red rose]

Still no condemnation of the war by him

 

[jon545660]

 

[Hansern]

Luton lead 1-0 and their fans are singing: «you’re getting sold in the morning».. Hahaha

 

[The Nomad]

Roman will not ask for any of the £1.5m debt to be repaid and effectively written off.

Money from the sale will be given directly to the trustees, who have been instructed to give it to the Ukrainian humanitarian relief fund. So a £2-3bn

I've never liked Abramovich obviously, but short of openly condemning Putin, there isn't much more he can do.

 

[darkstarexodus]

I wonder if Chelsea could be rented instead of purchased.

 

[bluebell]

Still no condemnation of the war by him

His daughter has. I wonder what would happen if he handed the reigns to his daughter who splits her time between London and Tel-Aviv (sun worshipper)

 

[Red rose]

His daughter has. I wonder what would happen if he handed the reigns to his daughter who splits her time between London and Tel-Aviv (sun worshipper)

Oh I didn’t know she had
I guess anything’s possible..
Maybe lots more due to come out about him and he knows times up now too

 

[Markeh]

Excuse my ignorance here but why exactly is he selling / what will happen if he doesn’t?

 

[RedStar]

Excuse my ignorance here but why exactly is he selling / what will happen if he doesn’t?

He needs to liquidate his assets out of countries that will freeze or seize them. If he doesn't sell quickly he may not be able to sell at all, hence he has to write off £1.5bn in loans because nobody would touch the club with that hanging over them.

 

[RedStar]

That said Boris seems to be slow walking sanctions against him for the express purpose of giving him all the time he needs to get every last roubles out of London. Once Roman's lawyers give him the nod Boris will announce crippling sanctions against him.

 

[Modo]

That said Boris seems to be slow walking sanctions against him for the express purpose of giving him all the time he needs to get every last roubles out of London. Once Roman's lawyers give him the nod Boris will announce crippling sanctions against him.

Exactly

 

[refugee]

Roman will not ask for any of the £1.5m debt to be repaid and effectively written off.

Money from the sale will be given directly to the trustees, who have been instructed to give it to the Ukrainian humanitarian relief fund. So a £2-3bn

I've never liked Abramovich obviously, but short of openly condemning Putin, there isn't much more he can do.

It sounds nice in theory. But a Ukraine rebuilding fund will be a Russia rebuilding fund in a few more days.

 

[Rosco]

I wonder if Chelsea could be rented instead of purchased.

Genius.

 

[Woland]

I wonder if Chelsea could be rented instead of purchased.

 

[Markeh]

He needs to liquidate his assets out of countries that will freeze or seize them. If he doesn't sell quickly he may not be able to sell at all, hence he has to write off £1.5bn in loans because nobody would touch the club with that hanging over them.

thanks, hopefully they end up with a more conventional owner

 

[Red Bird]

Excuse my ignorance here but why exactly is he selling / what will happen if he doesn’t?

His net worth is also taking a pounding.

 

[rurikbird]

Roman will not ask for any of the £1.5m debt to be repaid and effectively written off.

Money from the sale will be given directly to the trustees, who have been instructed to give it to the Ukrainian humanitarian relief fund. So a £2-3bn

I've never liked Abramovich obviously, but short of openly condemning Putin, there isn't much more he can do.

I doubt the Ukrainian relief fund will get anything close to that. "Net profits" sounds like a vague concept that the accountants can manipulate as they please. It's just PR.

 

[Red Astaire]

So - Just to humour an economics dullard like me. Regarding the Abramovich sale. On a scale of 1-10 (10 - being massive 'reap-what-you-sow you fucking chav cunts hilarity. 1 - Being absolutely nothing will happen and it's all a bit boring and tedious). How fucked are Chelsea? Just throwing it out there.

Cheers

 

[The Nomad]

I doubt the Ukrainian relief fund will get anything close to that. "Net profits" sounds like a vague concept that the accountants can manipulate as they please. It's just PR.

I know it's a bit potato, potato, but the wording was net proceeds.

As Roman isn't calling in the loan.

This reads as Sale price less legal fees.

I know it's not legally binding.