I have this annoying Chelski mate of mine chirping in my ear all the time about how Chelsea is "debt free" but this has to be a huge propaganda move no?
Random question, but is Chelski really "debt free"?
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[quote author=Fallon link=topic=38596.msg1041634#msg1041634 date=1264240587]
I think (not 100% though) Roman wiped the debt last summer.
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Just straight out of his pocket though? Seems A LOT of cash delivered!
I think (not 100% though) Roman wiped the debt last summer.
[/quote]
Just straight out of his pocket though? Seems A LOT of cash delivered!
When Abramovich put money into Chelsea initially it was done in the form of loans that he had given the club rather than shares he had purchased.
Recently he converted all that debt into shares in the club. Sheik Mansour did the same at City.
Given the focus that UEFA have had on financial fair play lately and those two actions combined with our efforts to get our debt down make me think that UEFA have let it be known that they'll be making changes in the future with regard to debt levels and CL qualification.
There's no advantage to do what Abramovich did otherwise. And Chelsea have recently given up the idea that they'd be a self financing business by 2010. They still make heavy losses every year.
Recently he converted all that debt into shares in the club. Sheik Mansour did the same at City.
Given the focus that UEFA have had on financial fair play lately and those two actions combined with our efforts to get our debt down make me think that UEFA have let it be known that they'll be making changes in the future with regard to debt levels and CL qualification.
There's no advantage to do what Abramovich did otherwise. And Chelsea have recently given up the idea that they'd be a self financing business by 2010. They still make heavy losses every year.
the changes UEFA are making will be to stop the likes of Abramovich and the Sheikh financing transfers or wages, that is Chelsea and City will have to live within their means as far as their staff are concerned (i.e within turnover). Debt will still be allowed for stadiums or football projects, there is no word about whether leveraged/ownership debt will be allowed
The changes are coming for 2012-2013
The changes are coming for 2012-2013
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