[Football] Chelsea - up for sale, Roman Abramovich sanctioned, not up for sale etc

[Goldstone1976]

Well I’m gutted at the confusion and uncertainty that this action will bring to Chelsea’s billionaire owner, multi-millionaire players, and loveable fans.

 

[Bold Seagull]

let not worry about any of that. people wanted sanctions, got sanctions, dont need to worry about consequenses.

I can absolutely assure you I'm not worried about some millionaire footballers not being paid. Completely right imho he should be sanctioned. I was merely interested in the scenarios Chelsea face.

 

[Marty___Mcfly]

Just checked ticket site and it turns out they have some scheduled maintenance on today.

 

[Bold Seagull]

Perhaps they will have to live within their means and cut costs accordingly?

Yep. They can't sell players but presumably they can cancel contracts by mutual consent.

 

[Kinky Gerbil]

So how do the players leave (if they want to) can’t be sold ?

I can’t see this lasting

 

[Doc Lynam]

And down comes Chelsea like a house of cards,.

Wonder how Amanda Staveley is feeling right now!

 

[Springal]

So how do the players leave (if they want to) can’t be sold ?

I can’t see this lasting

Nailed on a sale of the club will go through very quickly

 

[Kinky Gerbil]

And down comes Chelsea like a house of cards,.

Wonder how Amanda Staveley is feeling right now!

One less rival?

A club they can get world class players off for free?

 

[banjo]

What comes around goes around.

 

[Kinky Gerbil]

Nailed on a sale of the club will go through very quickly

I imagine he will give it away soon.

 

[essbee1]

And down comes Chelsea like a house of cards,.

Wonder how Amanda Staveley is feeling right now!

Couldn't happen to a nicer bunch of fans*.

*wan***s

 

[dazzer6666]

So how do the players leave (if they want to) can’t be sold ?

I can’t see this lasting

OFSI can approve transactions on a case by case basis, so anything involving Chelsea outside the licence conditions granted will be subject to review.

Bottom line is Abramovich can’t put money in or take money out, and they’ve essentially cut off the income flow into the club (ex tv etc). He could still sell the club (again subject to review and approval) but the proceeds will be frozen if in his name. Suspect this is the most likely outcome.

 

[Springal]

I imagine he will give it away soon.

I'm not sure - with multiple buyers It'll still go for money, which will get ring fenced by the government or sit with an agent until sanctions lift or similar

 

[BBassic]

If this drags on into next season and they lose some players because they can't offer new contracts they might actually have to play some of the youth talent they've been harvesting for years.

 

[Bold Seagull]

Nailed on a sale of the club will go through very quickly

No club sale goes through that quickly. In a normal situation, the due diligence processes etc. take months. In this case I expect every single beneficiary of the sale will need to be checked at government level - every lawyer fee, admin fee, everything. Abramovich's ownership structure goes through several companies and holding companies, each will need to be thoroughly checked to ensure no benefit is going to the wrong place, every £1 will need accounting for.

The government may well give a green light to a sale, I can't see it being quick though.

 

[Mellor 3 Ward 4]

Chelsea were due to start selling tickets for their FA Cup game at Boro this am.

Sales for this game have been stopped.

 

[Springal]

No club sale goes through that quickly. In a normal situation, the due diligence processes etc. take months. In this case I expect every single beneficiary of the sale will need to be checked at government level - every lawyer fee, admin fee, everything. Abramovich's ownership structure goes through several companies and holding companies, each will need to be thoroughly checked to ensure no benefit is going to the wrong place, every £1 will need accounting for.

The government may well give a green light to a sale, I can't see it being quick though.

But if the sale goes into a trust fund or similar the government recommend the sale is quickly - then up to government / others to then manage how / when the 'proceeds' of the sale get released

 

[Nitram]

He will be able to sell the club but only under restrictions, that he will not be able to receive proceeds.

 

[Marty___Mcfly]

Chelsea now = pariah club.

This is going to be messy.

Best option maybe to agree a sale ASAP to move beyond this.

 

[Acker79]

Given that this is a picture of him at an illegal Tory lockdown party in December, I am sure cronyism will come to the fore for a party donor to help it happen.

After all, he probably missed out on PPE contracts.

And if anybody wants to criticise that for "bringing politics in to a football thread", give your head a wobble.

How dare you, sir. Suggesting this government does things to help their own. In other news...


[tweet]1501870144355807238[/tweet]

The government that has taken forever to apply sanctions to russian oligarchs, having finally applied them to a particular one, is allowing an exception to the the sanctions that benefits one of their own. I wonder if the government will be able to drive the price down for him...