As of last june. That's what they had in the bank.
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Cheatski are still scum
- Thread starter NewYorkSpurs
- Start date
As of last june. That's what they had in the bank.
Without wishing to defend their terrible financial practices, that was after year of very low income due to COVID lockdowns.
I suspect they'd have had a fair bit more in if they'd been selling tickets.
Similar to a company which is on the verge of bankruptcy, the point isn't profitability, its liquidity
If they can't access credit facilities, and can't generate any more cash income from tickets/merch, then I struggle to see how they make it beyond April unless they have TV money which will still come in
If they can't access credit facilities, and can't generate any more cash income from tickets/merch, then I struggle to see how they make it beyond April unless they have TV money which will still come in
Fun while it lasted (original story was in the telegraph, but paywall).
https://metro.co.uk/2022/03/11/roma...e-for-bids-now-set-16262425/?ito=newsnow-feed
https://metro.co.uk/2022/03/11/roma...e-for-bids-now-set-16262425/?ito=newsnow-feed
spurspinter1
Steve Carr
As a family (on my Dad’s side that is) of Spurs fans (where one of my Dad’s brothers chose to support Chelsea for supposed bricks and giggles) I’ve no doubt things will continue as they have done for that bunch of clams.
It’s beyond nice to see things turn supposedly south for them. I’ve used the phrase blood stained money for the aforementioned black sheep in the family (who ironically is a vegan despite all the blood, albeit human rather than chicken/ beef etc). I love the sponsor melodrama aded to the risk of out of contract players leaving in the summer as much as anyone.
If there is a GHod I hope we’re awarded a title and a league cup, however in the real world... i’m predicting that everything will be the same as it has been flash forward a couple of months apart from an arbitrary name change of owner alongside some new conglomerate that’ll make everything fine, can anyone tell me why I’m wrong?
I know it’s cool to believe that the transfer ban didn’t help them and that mount wouldn’t get in to our team etc but on a real level like what is going to happen here?
It’s beyond nice to see things turn supposedly south for them. I’ve used the phrase blood stained money for the aforementioned black sheep in the family (who ironically is a vegan despite all the blood, albeit human rather than chicken/ beef etc). I love the sponsor melodrama aded to the risk of out of contract players leaving in the summer as much as anyone.
If there is a GHod I hope we’re awarded a title and a league cup, however in the real world... i’m predicting that everything will be the same as it has been flash forward a couple of months apart from an arbitrary name change of owner alongside some new conglomerate that’ll make everything fine, can anyone tell me why I’m wrong?
I know it’s cool to believe that the transfer ban didn’t help them and that mount wouldn’t get in to our team etc but on a real level like what is going to happen here?
It won't be the same as under abramovich. New owners will come in. They might spend initially to get fans on side. They might even push for a new stadium. But they'll want to make money. If it's a leveraged buyout, they'll have to pay the banks back the loans. Will at least put us on a more equal footing with them.
spurspinter1
Steve Carr
I feel like I should have put an “aside from speculative flimflam” hashtag on my post to make it more clear. Even in the best case scenario. it’s not about spending or being unable to spend, they won the CL last season remember? How long until we’re allowed to acknowledge that #Mr positive?
Edit- I’m not going to edit my response to a disappointing response even if it is emotional, how about something objective? Otherwise all this noise is just childish hoping something may happen rather than what will actually be. If this is all just us idiots pretending to feel better about themselves then say it as it is.
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The sale seems to be going through (according to matt law, abramovich has ok'd it). Should be completed in the next 4-6 weeks.
Nobody has £2-3bn laying about unless you are a soverign wealth fund or an oligarch that just sold your company. None have been linked. Mostly american consortiums. So banks will have to be involved. Which will have to be paid back. Abramovich was subsidising them still. So there will be less money to spend. That isn't being positive, or speculation. Just common fudging sense.
johnola
Jermaine Jenas
What the f do you mean Abramovic has okayed it the whole point is he has no control.
The license they had to continue trading despite sanctions against RA expressly forbade him selling it.
He is trying to force the hand of HM Government but he is fubar.
In my opinion that club will be made to sink like a stone as they represent nothing but bad things. Never have.
The license they had to continue trading despite sanctions against RA expressly forbade him selling it.
He is trying to force the hand of HM Government but he is fubar.
In my opinion that club will be made to sink like a stone as they represent nothing but bad things. Never have.
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spurspinter1
Steve Carr
I’d imagine that a lot of despicable people have 2/3 billion lying around and it’ll be a commercial rebrand rather than any actual change as opposed to “common fudging sense”, no matter how you want to dress it up for likes.
Unless you can readdress the initial question (plainly put for idiots which I certainly am one of) you haven’t answered it, if it’s all just hopeful speculation and it’s much easier to hope to hope for more of the same just say that, or perhaps nothing at all.
If it seems tremendously unclear what I’m asking, try imaging you’re not on a Spurs forum. I love buying in to the idea those pricks are fudged, I really do, however I remain to be convinced given actual history, they often come up smelling of roses.
It's still his company. The government can't sell it without his permission. He seems to have given it. So the sale goes through but he doesn't get the money. It's frozen.
https://www.telegraph.co.uk/footbal...y-scenario-financial-impact-roman-abramovich/
I don't know what you want? The deadline for the bids is next friday from reports. The main bidders have been named already.
johnola
Jermaine Jenas
Anyone could inject that sort of money into any club and turn them into a force. Why would anyone want to inject it into a club associated with an abandoned vehicle of the Russian Federation?
Even if a bid came out of the blue. Who has that sort of money? The ccp have ordered the chinese to wind down investments in football. Arabs aren't going to go up against both the saudis and uae. A drug dealer? Not sure the government would want to ok that deal after roman.
Can only see an investment consortium.
Can only see an investment consortium.
johnola
Jermaine Jenas
gonads. He has no power and is not in control of the club. He is sanctioned in the Western world.
He is in international waters waiting to see how many tens of millions dollars it is going to cost him to overnight in the Maldives or Dubai before he gets destroyed by a covert submarine.
spurspinter1
Steve Carr
I guess what I’m after in laymen’s terms is what’s going to change in the long run other than the name of the person in charge?
Sure for now there’s some sanctions on the travelling arrangements and whatnot + Chelsea get to play the victim “As long as there’s fuel in the bus we’ll get to the games”.
If there’s a feasible sale to a non despot / oligarch it’s more of the same and it’s all redundant in a football sense, if it doesn’t change the pecking order and it’s going to surmount to admin off the pitch then it’s a bit meh (in terms of this thread, not the cost of conflict of course)
spurspinter1
Steve Carr
I appreciate your input but don’t feel like you’re gauging my initial question of what’s actually going to happen to Chelsea (if we don’t know then just say it). The 2/3 billion dollars point is more a criticism of the world finance system then anything, it’s all zeros and ones on a computer somewhere..Are the recent developments going to actually change anything meaningful is my question.
Look at the difference between the glazers and abramovich.
Abramovich subsidised chelsea to the tune of over £1.5bn.
The glazers have cost utd over £700m in loan repayments (so far) as they mortgaged the club.
Utd being (possibly) the biggest club in the world, could absorb that to an extent. Chelsea less so.
Utd cost £790m to buy. Chelsea will be £2-3bn.
If you think that could be more of the same, i don't know what to say.
spurspinter1
Steve Carr
So your prediction is that they’re going to have business type people rather than vanity project people? You could have said that earlier.
“If you think..*add misrepresented opinion...I don’t know what to say” is as good as saying nothing at all. We should keep it positive unless it’s about other clubs though right? How simultaneously productive and objective!