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Chelskis funds.

Roo1976

By Roo1976
in The Saints

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Roo1976

Roo1976

Posted
Posted

As the title suggests could the premier league seize  Chelseas financial clout?, this could be a possibility as the government want to seize Russian finances.

Jimmy_D

Jimmy_D

Posted
Posted

It’s not just Chelsea. The funds behind Everton seem to be in danger of being affected by sanctions.

Also to a lesser extent Newcastle, that’s probably just down to PIF having a wide portfolio of investments, something was probably going to be hit.

Ted Bates Statue

Ted Bates Statue

Posted
Posted

Abramovich stepping away from Chelsea, I did not expect that to happen.

Don't know too much about their finances but guessing there has been a fair bit of work in recent years to make them self-funding. No new stadium though...

Suhari

Suhari

Posted
Posted
2 minutes ago, Ted Bates Statue said:

Abramovich stepping away from Chelsea, I did not expect that to happen.

Don't know too much about their finances but guessing there has been a fair bit of work in recent years to make them self-funding. No new stadium though...

Interesting. Wonder what this means for their spending power?

Selfishly..... does it make signing Broja more, or less likely.

  • Like 3
S-Clarke

S-Clarke

Posted
Posted (edited)

I think this is step 1 of removing his involvement, he's got to try and sell it now. Not sure how easy that will be though, so it could put Chelsea in a very, very tricky position for a couple of years.

Broja is probably going to be needed by them.

Edited by S-Clarke
Weston Super Saint

Weston Super Saint

Posted
Posted
20 hours ago, coalman said:

Tough to do that. Chelsea owes Abramovich $2billion.

https://www.forbes.com/sites/daviddawkins/2022/02/24/roman-abramovich-has-sanction-insurance-a-2-billion-loan-to-chelsea-fc/

Presumably he's wiping that debt if he's giving control to the charity as they simply won't have the funds to cover that much debt and would have to call in administrators as soon as they took control 🤷‍♀️

The Kraken

The Kraken

Posted
Posted
1 minute ago, Weston Super Saint said:

Presumably he's wiping that debt if he's giving control to the charity as they simply won't have the funds to cover that much debt and would have to call in administrators as soon as they took control 🤷‍♀️

It’s just a media exercise. Abramovic hasn’t been hands on at Chelsea for some time now. He’s not giving away his ownership, he’s just distancing himself from the running of the club. I suspect in all,other ways it’s business as usual.

  • Like 2
Sarisbury Saint

Sarisbury Saint

Posted
Posted
9 minutes ago, S-Clarke said:

I think this is step 1 of removing his involvement, he's got to try and sell it now. Not sure how easy that will be though, so it could put Chelsea in a very, very tricky position for a couple of years.

Broja is probably going to be needed by them.

Puts the buyer in a better bargaining position. 

Turkish

Turkish

Posted
Posted
55 minutes ago, S-Clarke said:

I think this is step 1 of removing his involvement, he's got to try and sell it now. Not sure how easy that will be though, so it could put Chelsea in a very, very tricky position for a couple of years.

Broja is probably going to be needed by them.

Or maybe they’ll need to sell him to generate funds for new signings at the  level they need right now……

rooney

rooney

Posted
Posted
17 minutes ago, East Kent Saint said:

Nothing will change at Chelsea , the move is just to stop the Govt seizing Abramovich's assets due to his links to Putin . Last I heard he didn't have a visa to enter UK

I d not think he is giving his  assets to the charitable Trust from what I have read in the media so far, simply the management of the club.

coalman

coalman

Posted
Posted
2 hours ago, rooney said:

I d not think he is giving his  assets to the charitable Trust from what I have read in the media so far, simply the management of the club.

Yup. It's almost like our government's slow response is giving the oligarchs who fund them time to make arrangements to stop their assets being seized or frozen.

  • Like 1
TWar

TWar

Posted
Posted

Meaningless stuff from Chelsea. He didn't have any real role in running Chelsea anyway, now he just officially won't have any role in running them. He still owns them and they have a massive debt to him, its all just for show.

  • Like 1
Secret Site Agent

Secret Site Agent

Posted
Posted (edited)
On 27/02/2022 at 09:32, TWar said:

Meaningless stuff from Chelsea. He didn't have any real role in running Chelsea anyway, now he just officially won't have any role in running them. He still owns them and they have a massive debt to him, its all just for show.

I agree.

This is simply a paperwork exercise to keep it out of Government hands.

It'll be just as easy to give it back either after the Ukrainian crises is over or he becomes one of our new overlords. 

Edited by Secret Site Agent
Dellman

Dellman

Posted
Posted
5 hours ago, East Kent Saint said:

Nothing will change at Chelsea , the move is just to stop the Govt seizing Abramovich's assets due to his links to Putin . Last I heard he didn't have a visa to enter UK

I think he does, as a Jew he claimed Israeli citizenship and that meant no visa required. That's the last I heard. It happened when UK govt began checking how the ultra rich had made their money and tried to refuse him entry. He took Israeli citizenship and that gave him entry. That's my memory.

rallyboy

rallyboy

Posted
Posted

Nothing has changed, this vague handover of control is irrelevant.

Chelsea is still his asset, if the UK had the balls to seize it and freeze the cash he has tied up in London, that might get the attention of him and his mate Putin.

  • Like 1
Micky

Micky

Posted
Posted

All flannel.  Let's be honest, the government are not going to seize any Chelsea assets, and we all know that the Premiere League couldn't give two hoots about where its money comes from, so long as it continues to flow. Knowing what 'the right thing to do' is,  and actually doing it, are two very different things. 

  • Like 1
East Kent Saint

East Kent Saint

Posted
Posted
13 hours ago, Dellman said:

I think he does, as a Jew he claimed Israeli citizenship and that meant no visa required. That's the last I heard. It happened when UK govt began checking how the ultra rich had made their money and tried to refuse him entry. He took Israeli citizenship and that gave him entry. That's my memory.

Yes , apparently he popped over last October as a visitor on that basis (Google) It sounds like he let his business visa lapse when the Govt were chasing russian dodgy money last time .

Ex Lion Tamer

Ex Lion Tamer

Posted
Posted
1 hour ago, rooney said:

There is some doubt now if the Charitable Foundation wish to run the club. DT says they are taking legal advice.

A charity can't just start running a private business. The trustees could separately get together and form a board to run the business, but they might be seen as having a conflict of interest

Verbal

Verbal

Posted
Posted
On 27/02/2022 at 09:32, TWar said:

Meaningless stuff from Chelsea. He didn't have any real role in running Chelsea anyway, now he just officially won't have any role in running them. He still owns them and they have a massive debt to him, its all just for show.

True, but there are serious implications for some people, especially the trustees of the Chelsea Foundation. The terms of their registration with the Charity Commission would not have included running a premier league club - least of all one that owes a billion and a half or more to the owner.  Charity trustees have personal liability - they are not protected by the limited liability you get in private or public limited companies.

A Chelsea trustee with any sense should resign now

  • Like 1
eurosaint

eurosaint

Posted
Posted
8 minutes ago, Verbal said:

True, but there are serious implications for some people, especially the trustees of the Chelsea Foundation. The terms of their registration with the Charity Commission would not have included running a premier league club - least of all one that owes a billion and a half or more to the owner.  Charity trustees have personal liability - they are not protected by the limited liability you get in private or public limited companies.

A Chelsea trustee with any sense should resign now

I am a trustee director of a local charity with funding circa £300k so am aware of the obligations required !

Obviously Chelski is a totally different ballgame but if similar rules apply, I wouldn’t touch it with a bargepole..

Risky business if you don’t have your wits about you….

 

  • Like 1
tajjuk

tajjuk

Posted
Posted

I think they have been running on a sell to buy path anyway, the transfer ban and them having horded so many players has put them into a good position financially to spend. 

Like Lukaku was basically bought with sales, they recouped more than £100 million on academy graduates last year.  The main issue they have I think is contracts, with Rudiger,  Christensen and Azpilicueta out of contract in the summer , which is basically most of their defence, leaving a soon to be 37 Thiago Silva. 

JRM

JRM

Posted
Posted
23 minutes ago, East Kent Saint said:

Today it is reported that Abromavich is selling his properties in London and Chelsea is also for sale !

He'll have to write off a lot of that debt to secure a sale I think but they'll be attractive to buy, world club champions located in a prime London location 

Lighthouse

Lighthouse

Posted
Posted
1 hour ago, East Kent Saint said:

Today it is reported that Abromavich is selling his properties in London and Chelsea is also for sale !

How much? I've been thinking of moving up the ladder.

  • Like 1
  • Haha 1
richardc

richardc

Posted
Posted

Chelsea could look to sell Albania forward Armando Broja, 20, and English midfielder Faustino Anjorin, 20, to help fund transfers this summer. (Evening Standard)

AlexLaw76

AlexLaw76

Posted
Posted
25 minutes ago, richardc said:

Chelsea could look to sell Albania forward Armando Broja, 20, and English midfielder Faustino Anjorin, 20, to help fund transfers this summer. (Evening Standard)

Flirting with us I see 

 

CB Fry

CB Fry

Posted
Posted
1 hour ago, Lighthouse said:

How much? I've been thinking of moving up the ladder.

Don't commit to anything until Dion Dublin has had a look round.

  • Like 1
  • Haha 3
JRM

JRM

Posted
Posted
11 minutes ago, Turkish said:

Everton have suspended all sponsorship deal activities with 3 Russian partners

That could be brilliant timing, losing income whilst getting relegated and having a new stadium just underway with bills to pay on that. 

  • Like 1
  • Haha 1
East Kent Saint

East Kent Saint

Posted
Posted

I see Boris is claiming to be THE world leader advocating sanctions despite dragging his heals because so many bent rich Russians fund the tory party , pay to play tennis with Boris , have been appointed to advisory groups to this govt etc . Abromvich will get off scott free guaranteed . What a wanker 🤨

  • Like 2
coalman

coalman

Posted
Posted
33 minutes ago, East Kent Saint said:

I see Boris is claiming to be THE world leader advocating sanctions despite dragging his heals because so many bent rich Russians fund the tory party , pay to play tennis with Boris , have been appointed to advisory groups to this govt etc . Abromvich will get off scott free guaranteed . What a wanker 🤨

"No one could have foreseen him selling his assets and it was vital we followed due process"

Which doesn't compare favourably with "we'll hit them with sanctions as soon as one russian toe crosses the border".

At least we have Top Gun Truss...

coalman

coalman

Posted
Posted
1 minute ago, Saint Garrett said:

So, he’s confirmed hes selling…

Better get a move on. Boris is imposing sanctions any year now

  • Haha 3
Holmes_and_Watson

Holmes_and_Watson

Posted
Posted

Abramovic always has Amanda Staveley to offer support "

"We're always going to have geopolitical issues.

I'm really sad that someone is going to have a football club taken away because of a relationship he may have with someone."

Not talking about anything closer to home there.

  • Haha 1

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