Cheatski are still scum

[DubaiSpur]

Yeah he needs to sell the club because he has been sponsoring a war
That’s not an owner I’d be condoning personally
And I’m not sure how FFP allows for owners clubs to have owner funded debt and then have it written off
Pretty sure it’s going to be paid off in the sale
And he then takes less money out
He has got what he needed out of Chelsea… legitimacy in the eyes of some people

Dunno about sponsoring a war, since it's unclear how much money he's laundered for Putin's gang.

But he's odious because all his money was stolen from starving and dying Russians in the collapse of the 90s, in my eyes.

However, I don't see Joe Lewis as a saint either, as we've discussed prior. He caused misery to make his billions - less misery, but still not something to boast about.

 

[Jordinho]

I was told that Chelski would be screwed when Abramovich called in his loans by many of the folks here who praised ENIC for loading us with debt for the stadium.

He's apparently just written them all off, so they're completely debt free and apparently healthy.

Guarantee we won't be debt-free when ENIC sell us, and all the profit will go straight to their pocket. We'll have a new stadium, they won't - they have about 50 more trophies than us, and twenty years of happiness and memories that can't get taken away.

Huh. They did get the better owner in the end, personal odiousness aside. Strange how that works.

Abramovich writing off the loans in order to sell the club quicker so he can transfer the money into some tax haven before the authorities seize his assets because Putin has invaded Ukraine. Yeah, that was always likely to happen.

 

[Lilbaz]

I was told that Chelski would be screwed when Abramovich called in his loans by many of the folks here who praised ENIC for loading us with debt for the stadium.

He's apparently just written them all off, so they're completely debt free and apparently healthy.

Guarantee we won't be debt-free when ENIC sell us, and all the profit will go straight to their pocket. We'll have a new stadium, they won't - they have about 50 more trophies than us, and twenty years of happiness and memories that can't get taken away.

Huh. They did get the better owner in the end, personal odiousness aside. Strange how that works.

How much debt a club has is factored into the price when sold. Abramovich wiping the debt just means he can ask for more money.

 

[Lilbaz]

£1.5bn debt to abramovich, means that on average he was subsidising them £79m a year. If it is a leveraged buyout chelsea will also have to pay back the bank loans.

They could be in trouble.

 

[thfcsteff]

It is just appalling how football has allowed such ventures to take root. There again, if we just look at how deeply UEFA and FIFA like to dance with money, then I suppose I should not be so outraged. A joke. All of it.

 

[markysimmo]

£1.5bn debt to abramovich, means that on average he was subsidising them £79m a year. If it is a leveraged buyout chelsea will also have to pay back the bank loans.

They could be in trouble.

It's Chelsea
Sold heir soul to the devil and always get away with everything

 

[SpurMeUp]

Yeah he needs to sell the club because he has been sponsoring a war
That’s not an owner I’d be condoning personally
And I’m not sure how FFP allows for owners clubs to have owner funded debt and then have it written off
Pretty sure it’s going to be paid off in the sale
And he then takes less money out
He has got what he needed out of Chelsea… legitimacy in the eyes of some people

Haha Dubai lamenting the fact we're not owned by a crooked oligarch. Winning football trophies is more important than dignity to some.

 

[Lilbaz]

Yeah he needs to sell the club because he has been sponsoring a war
That’s not an owner I’d be condoning personally
And I’m not sure how FFP allows for owners clubs to have owner funded debt and then have it written off
Pretty sure it’s going to be paid off in the sale
And he then takes less money out
He has got what he needed out of Chelsea… legitimacy in the eyes of some people

Also he bought chelsea at the request of putin.

 

[Bedfordspurs]

Haha Dubai lamenting the fact we're not owned by a crooked oligarch. Winning football trophies is more important than dignity to some.

It ai for the Chelsea fans
Their happy
Genuinely
I’d love trophies too
Not sure I would convince myself the owner was a saint though
But it’s gonna be interesting tos re how this plays out with FFP now
They can’t just write of a club debt that was due yet his press statement says he is writing it off. That debts on the books of the company and has been tax efficient and also recognised as debt
I assume the new owners pay him the debt… he somehow pays off the debt he is owed and they argue with fifa
But the new owners will be interesting as no one so far linked is that rich so I assume it will be a debt funded model just like United

 

[Bedfordspurs]

Also he bought chelsea at the request of putin.

Yep
I’ve seen those comments and articles
It was a way of moving money and gaining influence

 

[jts1882]

“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.”

I wonder about the exact wording. He's not asking for any loans to be repaid. But say a buyer pays £2 billion him for the club, could the loan amount factor into the net proceeds?

 

[Lilbaz]

It ai for the Chelsea fans
Their happy
Genuinely
I’d love trophies too
Not sure I would convince myself the owner was a saint though
But it’s gonna be interesting tos re how this plays out with FFP now
They can’t just write of a club debt that was due yet his press statement says he is writing it off. That debts on the books of the company and has been tax efficient and also recognised as debt
I assume the new owners pay him the debt… he somehow pays off the debt he is owed and they argue with fifa
But the new owners will be interesting as no one so far linked is that rich so I assume it will be a debt funded model just like United

From swiss ramble regarding utds debt
MUFC fans will be painfully aware that their club has paid huge sums for the privilege of having the Glazers as owners. Since the leveraged buy-out they have spent £1.1 bln on financing: £704m interest, £244m debt repayments and £125m dividends.

That was for a £790m purchase. Imagine a £2-3bn one.

Then take away the £79m a year roman has been subsidising them.

They better pray it isn't a leveraged buyout. But if there is any justice in the world it will be.

 

[Lilbaz]

“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.”

I wonder about the exact wording. He's not asking for any loans to be repaid. But say a buyer pays £2 billion him for the club, could the loan amount factor into the net proceeds?

If someone was willing to pay £1.5bn for the club then £1.5bn to pay off the debt. They will pay £3bn for the club with no debt to repay.

Either way they are paying the same and getting the same.

 

[Bedfordspurs]

If someone was willing to pay £1.5bn for the club then £1.5bn to pay off the debt. They will pay £3bn for the club with no debt to repay.

Either way they are paying the same and getting the same.

But the club owes the debt
They can’t just pay it off and comply with FFP as they have had the benefit of the debt on their books
That’s my interpretation anyway
It would be different if it was commercial debt

 

[Lilbaz]

Yep
I’ve seen those comments and articles
It was a way of moving money and gaining influence

Bread and circuses. Putin wanted the world cup, cl finals etc... so he told the oligarchs to buy clubs and get influence. Bit of sports washing aswell.

 

[Lilbaz]

But the club owes the debt
They can’t just pay it off and comply with FFP as they have had the benefit of the debt on their books
That’s my interpretation anyway
It would be different if it was commercial debt

As far as i'm aware ffp doesn't say anything about debt other than football related debt. Transfers etc... it just says how much you can spend in regards to transfers and wages. Which you can still make a loss on in a 3 year period of £39m.

 

[monkeybarry]

Doesn't matter, any profits on the sale go to the charity.

That charity is being set up to aid victims in Ukraine. It would take ass-hattery of John Terry proportions to try and funnel that money back to himself from a charity.

I wonder how many recovery companies he'll have a share in.

 

[monkeybarry]

I was told that Chelski would be screwed when Abramovich called in his loans by many of the folks here who praised ENIC for loading us with debt for the stadium.

He's apparently just written them all off, so they're completely debt free and apparently healthy.

Guarantee we won't be debt-free when ENIC sell us, and all the profit will go straight to their pocket. We'll have a new stadium, they won't - they have about 50 more trophies than us, and twenty years of happiness and memories that can't get taken away.

Huh. They did get the better owner in the end, personal odiousness aside. Strange how that works.

I'll happily take being in the debt if the alternative is war and death of innocent people.
But each to their own.

 

[Bedfordspurs]

As far as i'm aware ffp doesn't say anything about debt other than football related debt. Transfers etc... it just says how much you can spend in regards to transfers and wages. Which you can still make a loss on in a 3 year period of £39m.

It does talk about owner investment… that’s the debt in this case

 

[Lilbaz]

It does talk about owner investment… that’s the debt in this case

Uefa or premier league rules?