pure_white
Well-known member
- Dec 8, 2021
- 1,216
https://www.bbc.co.uk/sport/live/football/60688168 Chelsea going bust
[Football] Chelsea - up for sale, Roman Abramovich sanctioned, not up for sale etc
- Thread starter nicko31
- Start date
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No FURTHER casual ticket sales. You’d imagine the match by match tickets for the next few matches have already been sold.
That might suit a political narrative perhaps, but it's how sanctions work. The underlying business will be protected but any proceeds due to Abramovich will be frozen. Doesn't really matter whether it's the club, or money raised from the sale of the club from a sanctions perspective (however much some would like to see Chelsea collapse) that's frozen - it's his asset that gets blocked. Pretty obvious that that they've taken so long over this due to the complications that arise - the legal discussions alone over what Chelsea can and can't do within the confines of a sanctioned owner would have taken ages and they couldn't really risk ****ing it up.
Damned if they do, damned if they don't.
happypig
Staring at the rude boys
I presume the ban on ticket sales means no away fans. Given the PL requires 10% of capacity should go to away fans, could the PL tell Chelsea to give the allocation to the away club for free ?
....and away club to sell them as usual and give the money to the DEC appeal.
happypig
Staring at the rude boys
They allowed Hereford United to go bust..
Delaying the sanction was a very high risk strategy that luckily appears to have paid off. Had Putin's pal been able to offload the club last week he could have just buggered off with his £3bn and nothing could have been done. But all's well that ends well.
Slightly different don’t you think?
Doubt it, they'd have been ready to trigger them if that happened (unlikely in any event that the sale could have been concluded that quickly)
happypig
Staring at the rude boys
"you lie down with dogs, you get fleas"
Why is it different ? Of course Chelsea are a higher-profile, higher budget, more successful club but a lot of that success has been built using dodgy money.
In a nutshell, f..k 'em
No reason not to. They are a business that has been bankrolled by a bent pal of Putins for years. Chickens. Roost. And all that jazz. My attitude towards Chelsea going bust is along the lines of
Of course not. Both the Govt and the Premier League will be desperate for CFC to be sold ASAP. The proceeds will obviously be retained by the Govt until such time as the sanctions are removed (or, if they aren't, presumably the monies are simply kept by the Govt). The new owners will then take over and things will return to normal (for the football world).
However, this underlines (if more proof were needed) that Chelsea's success has been bought with tainted money. In the short term their reputation is trashed!
Government cutting of funding is a massive difference, as it stands they can’t even sell players.
Hereford/Bury etc didn’t have funding blocked by the Government .
I can’t stand Chelsea, but you can’t compare this situation with other clubs that have folded
Thunder Bolt
Silly old bat
Financial expert Kieran Maguire speaking on BBC Radio 5 Live: “In the short term, it’s to a large extent business as usual. Chelsea will be able to pay wages due at the end of March and will have other overheads. The government will have been working with the Premier League to try to ensure that there is no disruption as far as the remainder of the season. Ultimately it’s a sideshow given what is happening in Ukraine.
“In terms of the ability of the club to generate extra money, no matchday tickets will be able to be sold. The majority of tickets are via season tickets so shouldn’t make a significant difference to attendances. Going forward, Chelsea have some players who are out of contract at the end of June. First noises suggest no new contracts will be able to be signed until the period of freezing ends."
More from Kieran Maguire on implications for Chelsea: “Chelsea’s wage bill is round about £28m a month. We don’t know how much cash they have in the bank. The most recent accounts we have are from June 2021 when there was £16m in the bank. Abramovich has been injecting money into Chelsea on a regular basis over recent years and presumably that won’t be able to continue.
"The concern might be what happens if Chelsea’s cash reserves are insufficient to pay their wage bill but presumably the government and Premier League, who have been working on this, will have been looking at it to try to minimise disruption on a club level.
“We need to see the terms of any sale licence. Presumably, the government would be in a position to ensure any funds from the sale of the club would go into an account that they can monitor to ensure that none of the proceeds go to Abramovich.
"He’s said the money would be paid into some form of funds to relieve victims in Ukraine so clearly the government would be careful to monitor how that money was collected from the sale of the club and then probably freeze it before releasing it to the appropriate sources."
I agree, It does put the PL in an interesting situation - will they want Chelsea (or Everton) stinking up the league and potentially losing sponsors?
Empty grounds doesn’t look good either
happypig
Staring at the rude boys
They could release players or not pay them in order to keep the club afloat. They could play youngsters to fulfil fixtures.
Peter Grummit
Well-known member
£28m wages per month and an estimate of £16m in the bank. Either wages will be delayed or very real risk of insolvency, Shirley? Insolvency = relegation or points deduction?