Baleforce
Arthur Rowe
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
I saw that, figured it was just a spurs fan trolling
I saw that, figured it was just a spurs fan trolling
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Cheatski are still scum
- Thread starter NewYorkSpurs
- Start date
Superted
Jonathan Woodgate
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
So if they back Roman, and Roman backs Rafa, surely then they'd back Rafa too???
So if they back Roman, and Roman backs Rafa, surely then they'd back Rafa too???
nelto
Sergei Rebrov
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
I'm sure it's not true, but I dream of that day. I'd love him to call in what they owe him as well.
I'm sure it's not true, but I dream of that day. I'd love him to call in what they owe him as well.
Crawley
Board Legend
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
Well, it was tweeted by Crackers.
Crackers has a part time job with Talksport now, and isn't prone to posting made-up brick because he will be called up about it later.
Well, it was tweeted by Crackers.
Crackers has a part time job with Talksport now, and isn't prone to posting made-up brick because he will be called up about it later.
Essex Yid
Bobby Zamora
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
http://www.theshedend.com/topic/23067-rafa-rant-at-the-fans/
This thread shows Chelsea fans at their best. Congratulating and patting themselves on the back for getting to Benitez, which has basically fudged their season up.
The stupidity of these macarons really is staggering.
http://www.theshedend.com/topic/23067-rafa-rant-at-the-fans/
This thread shows Chelsea fans at their best. Congratulating and patting themselves on the back for getting to Benitez, which has basically fudged their season up.
The stupidity of these macarons really is staggering.
greatwhitenorf
Edgar Davids
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
"Interim fans".
That's a great line. Would make a snappy little chant, too.
"Interim fans".
That's a great line. Would make a snappy little chant, too.
Lily White
Clive Wilson
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
You would have thought so. I don't know if all the bluescum fans feel the same but that bloke said he backed RA 100%. Surely there has to come a time regardless of the money being pumped in where you get cheesed off with the odd decisions and the ridicule aimed at the club and start asking serious questions of the owner. I'm no fan of the spanish waiter but he has a very good point and hasn't been given a chance.
You would have thought so. I don't know if all the bluescum fans feel the same but that bloke said he backed RA 100%. Surely there has to come a time regardless of the money being pumped in where you get cheesed off with the odd decisions and the ridicule aimed at the club and start asking serious questions of the owner. I'm no fan of the spanish waiter but he has a very good point and hasn't been given a chance.
jts1882
Dean Richards
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
They don't owe him anything. He converted the £700m loan to equity. There might be a bit of debt from last summer's spending, but when if sells the club will be solvent. They would have the wage bill to deal with but they would be in much better shape than when Bates sold them.
I can't see him selling now. After the CL win they spent a lot so he still have the enthusiasm. And for a Russian oligarch a high profile position in a foreign country is useful in case you fall foul of the Kremlin.
They don't owe him anything. He converted the £700m loan to equity. There might be a bit of debt from last summer's spending, but when if sells the club will be solvent. They would have the wage bill to deal with but they would be in much better shape than when Bates sold them.
I can't see him selling now. After the CL win they spent a lot so he still have the enthusiasm. And for a Russian oligarch a high profile position in a foreign country is useful in case you fall foul of the Kremlin.
nelto
Sergei Rebrov
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
I must admit that I struggle to understand finance, especially high finance. How can he turn Chelsea's debt into equity when they owed him the loan money, but he was effectively lending the money to himself to give to Chelsea, then converts it to equity to buy shares and buy the Club. Baffled. £760m just goes poof into the air. Can't be straight, can it?
How can ffp ever be implemented? I know it's probably to tackle this type of thing, but I'm sure the world of big business will easily circumvent it.
I must admit that I struggle to understand finance, especially high finance. How can he turn Chelsea's debt into equity when they owed him the loan money, but he was effectively lending the money to himself to give to Chelsea, then converts it to equity to buy shares and buy the Club. Baffled. £760m just goes poof into the air. Can't be straight, can it?
How can ffp ever be implemented? I know it's probably to tackle this type of thing, but I'm sure the world of big business will easily circumvent it.
jts1882
Dean Richards
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
Not sure exactly how it works. I think the club just issues new shares and he buys them for the same amount as the debt. He has purchased the shares so has an asset in exchange for the money. In simplistic terms, the value of the club is total share value minus debt (or is it plus the debt?) and that doesn't change, but the number and individual value of the shares changes.
I can't see FFP working. Just look at the value of the new sponsorship deals City are getting. UEFA can't turn round and say the Champions of England can't have similar deals to United.
Not sure exactly how it works. I think the club just issues new shares and he buys them for the same amount as the debt. He has purchased the shares so has an asset in exchange for the money. In simplistic terms, the value of the club is total share value minus debt (or is it plus the debt?) and that doesn't change, but the number and individual value of the shares changes.
I can't see FFP working. Just look at the value of the new sponsorship deals City are getting. UEFA can't turn round and say the Champions of England can't have similar deals to United.
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nelto
Sergei Rebrov
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
Cheers jts1882. I need to go to a crayon class in economics to understand this.
Article from 2010:
http://www.independent.co.uk/sport/...ent/debt-swap-is-window-dressing-1859997.html
Recent moves by Chelsea and Emirates Marketing Project's owners to wipe out debt by converting loans into equity work "by moving money from their left pocket to the right", say financiers.
It emerged this week that Emirates Marketing Project's Sheikh Mansour had converted £304.9m of the club's loans into equity, a week after Roman Abramovich had done the same with £340m of interest-free loans to his club, Chelsea.
The accounting operation, which one banker called "balance sheet window dressing," was in reaction to Uefa president Michel Platini's calls for financial fair play in football. He has threatened those that load themselves with unsustainable levels of debt with exclusion from European competitions.
Stephen Schechter, who founded investment bank Schecter & Co, and has worked with football clubs including Emirates Marketing Project and Leeds, said the loans had been left over from the time the clubs were bought. "They were convenient at the time but it doesn't serve any purpose now," he said. "They can't get any tax deduction on the interest because the clubs weren't paying it."
Essentially the owners, who hold all of the club's equity, have also lent it money. A debt for equity swap will beef up the balance sheet, what Mr Schechter called: "putting money from your left pocket to your right pocket". It doesn't change the clubs' potential valuation nor does it change the way they are run. He added: "The bonds didn't pay interest and had no maturity. Why go through the illusion?"
He added that it wasn't like the loans at clubs like Liverpool, whose debt is held by banks and features repayment schedules and interest.
Cheers jts1882. I need to go to a crayon class in economics to understand this.
Article from 2010:
http://www.independent.co.uk/sport/...ent/debt-swap-is-window-dressing-1859997.html
Recent moves by Chelsea and Emirates Marketing Project's owners to wipe out debt by converting loans into equity work "by moving money from their left pocket to the right", say financiers.
It emerged this week that Emirates Marketing Project's Sheikh Mansour had converted £304.9m of the club's loans into equity, a week after Roman Abramovich had done the same with £340m of interest-free loans to his club, Chelsea.
The accounting operation, which one banker called "balance sheet window dressing," was in reaction to Uefa president Michel Platini's calls for financial fair play in football. He has threatened those that load themselves with unsustainable levels of debt with exclusion from European competitions.
Stephen Schechter, who founded investment bank Schecter & Co, and has worked with football clubs including Emirates Marketing Project and Leeds, said the loans had been left over from the time the clubs were bought. "They were convenient at the time but it doesn't serve any purpose now," he said. "They can't get any tax deduction on the interest because the clubs weren't paying it."
Essentially the owners, who hold all of the club's equity, have also lent it money. A debt for equity swap will beef up the balance sheet, what Mr Schechter called: "putting money from your left pocket to your right pocket". It doesn't change the clubs' potential valuation nor does it change the way they are run. He added: "The bonds didn't pay interest and had no maturity. Why go through the illusion?"
He added that it wasn't like the loans at clubs like Liverpool, whose debt is held by banks and features repayment schedules and interest.
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
You cannot apply laws retroactively.
FFP will mean an owner cannot just openly hand a club money in future. Whether or not Abramovic can give one of his Russian friends a billion pounds to pay for sponsorship is where the waters are muddied. But even if a club takes out a loan from their owner and instantly gets that debt converted into equity, it won't help them for FFP.
FFP is simple. Subtract the money a club spends in a year* from the money they earn in a year* and if they go too far* into debt, they have fudged up.
* Only certain costs count for FFP.
* Only certain income sources count for FFP.
* If a club has a rich owner, they're allowed to go post a bigger negative than a club that does not have a rich owner that'll absorb the losses.
Yes, it's bent. Yes, I'm oversimplifying it, but there are very limited options to stop "financial doping".
You cannot apply laws retroactively.
FFP will mean an owner cannot just openly hand a club money in future. Whether or not Abramovic can give one of his Russian friends a billion pounds to pay for sponsorship is where the waters are muddied. But even if a club takes out a loan from their owner and instantly gets that debt converted into equity, it won't help them for FFP.
FFP is simple. Subtract the money a club spends in a year* from the money they earn in a year* and if they go too far* into debt, they have fudged up.
* Only certain costs count for FFP.
* Only certain income sources count for FFP.
* If a club has a rich owner, they're allowed to go post a bigger negative than a club that does not have a rich owner that'll absorb the losses.
Yes, it's bent. Yes, I'm oversimplifying it, but there are very limited options to stop "financial doping".
jts1882
Dean Richards
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
The other thing that makes me negative on FFP is that it does nothing to stop people like the Glazers and Hicks-Gillett taking over clubs and loading them with debt, as long as they can pay the interest). United are strong enough financially to survive, but it nearly brought down Liverpool. If a club of the stature of Liverpool needs luck and a friendly judge to survive such takeovers, what hope is there for others?
The other thing that makes me negative on FFP is that it does nothing to stop people like the Glazers and Hicks-Gillett taking over clubs and loading them with debt, as long as they can pay the interest). United are strong enough financially to survive, but it nearly brought down Liverpool. If a club of the stature of Liverpool needs luck and a friendly judge to survive such takeovers, what hope is there for others?
braineclipse
Steve Sedgley
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
Benitez knew exactly what he was walking into when he signed for Chelsea. He knew he was signing on as an interim manager, he knew he was taking over from DiMatteo who was a previous player and won them the CL and thus was obviously popular while he wasn't. If it wasn't for the fact that his career was already tanking (slight hyperbole I know) at the time he never would have signed for them under those terms. It was a bit of a long shot for him because he knew no top club in a top league would sign him permanently now. So he's frustrated that it didn't work out.
He not done at the end of the season because he signed on as an interim manager, he's done because he hasn't been able to deliver results.
At the beginning he was saying how the fans had every right to voice their opinion and that it didn't affect him, maybe if he straight away had said that they shouldn't do stuff like that because it was hurting the team I would have respected him. But to start crying about it now, when things aren't going his way makes him look whingy to me.
Benitez knew exactly what he was walking into when he signed for Chelsea. He knew he was signing on as an interim manager, he knew he was taking over from DiMatteo who was a previous player and won them the CL and thus was obviously popular while he wasn't. If it wasn't for the fact that his career was already tanking (slight hyperbole I know) at the time he never would have signed for them under those terms. It was a bit of a long shot for him because he knew no top club in a top league would sign him permanently now. So he's frustrated that it didn't work out.
He not done at the end of the season because he signed on as an interim manager, he's done because he hasn't been able to deliver results.
At the beginning he was saying how the fans had every right to voice their opinion and that it didn't affect him, maybe if he straight away had said that they shouldn't do stuff like that because it was hurting the team I would have respected him. But to start crying about it now, when things aren't going his way makes him look whingy to me.
markysimmo
Johnny nice-tits
Re: The Official Oh F*** Chelsea Destroyed Footie Thread feat. FSW
So The Standard reporting tonight that Rafa will go after the game on saturday and that
is on standby to take over till the end of the season
So The Standard reporting tonight that Rafa will go after the game on saturday and that
is on standby to take over till the end of the season
