VillaJ100 Posted May 31, 2016 Share Posted May 31, 2016 I read somewhere before that Chelsea have a huge debt that Abramovic has never paid off, he's just the guarantor of it. Which the lender thinks is fine, because they know he can stump up if they need it. But if he was ever to leave or be forced out etc you can guarantee that the banks will call the debt in and cripple the club, smart insurance really. Link to comment Share on other sites More sharing options...
Genie Posted May 31, 2016 Share Posted May 31, 2016 44 minutes ago, VillaJ100 said: I read somewhere before that Chelsea have a huge debt that Abramovic has never paid off, he's just the guarantor of it. Which the lender thinks is fine, because they know he can stump up if they need it. But if he was ever to leave or be forced out etc you can guarantee that the banks will call the debt in and cripple the club, smart insurance really. This is how a lot of owners manage the business and RA is the same. When he puts all this money into the club it is not in terms of cash, it is 0% interest loans which he agrees to defer the repayment of. There must be a reason for it, maybe better for tax to keep the club in debt. I guess Chelsea FC PLC owe Roman Abramovic hundreds of millions of pounds, probably similar with Villa when Randy has been plugging holes in our finances. Link to comment Share on other sites More sharing options...
blandy Posted May 31, 2016 Moderator Share Posted May 31, 2016 1 hour ago, VillaJ100 said: I read somewhere before that Chelsea have a huge debt that Abramovic has never paid off, he's just the guarantor of it. Which the lender thinks is fine, because they know he can stump up if they need it. But if he was ever to leave or be forced out etc you can guarantee that the banks will call the debt in and cripple the club, smart insurance really. He has loaned Chelsea the money, rather than banks lending it. Quote It is true that the loans from the holding company to Chelsea FC plc were fully converted to shares last year. However Abramovich's loan to Chelsea Limited, the holding company which owns Chelsea FC plc, was not. That loan remains owing; in fact it increased from £701m, because Abramovich loaned another £25m in a year when Chelsea's extravagant spending, and the dismissal of Luiz Felipe Scolari and his coaching team, produced losses of £47m. The accounts of Chelsea Limited (whose name was changed during the year to Fordstam Limited), show that loan still outstanding: £726m, owed to Abramovich. A spokesman for the club confirmed that yesterday: "Recapitalisation of loans happened at the level of Chelsea FC plc, not the holding company (Fordstam), therefore making the football club debt free." That is true. But Fordstam owns the football club company, and owes Abramovich £726m. The loan is interest free, but it is repayable if Abramovich gives 18 months' notice. The Russian could still demand the money back some day, either if the club is making a profit, or if he were to sell it. He has not, in fact, written off the huge loans he has made on his Chelsea adventure. https://www.theguardian.com/football/2010/may/19/roman-abramovich-chelsea-loan-debt Link to comment Share on other sites More sharing options...
VillaJ100 Posted May 31, 2016 Share Posted May 31, 2016 So if RA croaked it, Chelsea would owe his estate 700 odd million? Presuming his next of kkn had no interest in the club Link to comment Share on other sites More sharing options...
Daweii Posted May 31, 2016 Share Posted May 31, 2016 34 minutes ago, VillaJ100 said: So if RA croaked it, Chelsea would owe his estate 700 odd million? Presuming his next of kkn had no interest in the club Pretty much yeah. Good luck paying that back while remaining competitive in the Premier League. Link to comment Share on other sites More sharing options...
spiezels Posted May 31, 2016 Share Posted May 31, 2016 So if RA croaked it, Chelsea would owe his estate 700 odd million? Presuming his next of kkn had no interest in the club I'd imagine his life insurance pay out and estate would more than cover anything Link to comment Share on other sites More sharing options...
Rob182 Posted May 31, 2016 Share Posted May 31, 2016 I'd imagine his life insurance pay out and estate would more than cover anything His next of kin would get a ton of money from insurance, no doubt, but I thought the debt being talked about is money that Chelsea owe him. So Abramovich's insurance wouldn't stump up that amount when they could just ask Chelsea to pay what is owed, I'd have thought? (Anyway... Back on topic..... I love Dr Xia! He looks cool) 1 Link to comment Share on other sites More sharing options...
VillaChris Posted May 31, 2016 Share Posted May 31, 2016 8 hours ago, VillaJ100 said: So if RA croaked it, Chelsea would owe his estate 700 odd million? Presuming his next of kkn had no interest in the club I read ages ago his son was being primed to take over, no idea how old he is and whether that plan has changed. Link to comment Share on other sites More sharing options...
spiezels Posted May 31, 2016 Share Posted May 31, 2016 His next of kin would get a ton of money from insurance, no doubt, but I thought the debt being talked about is money that Chelsea owe him. So Abramovich's insurance wouldn't stump up that amount when they could just ask Chelsea to pay what is owed, I'd have thought? (Anyway... Back on topic..... I love Dr Xia! He looks cool) You're probably right, but I'd imagine his life insurance policy and estate is worth many billions so the Chelsea debt would be low down... Well either that or his death signals a power shift and all his family die from nuclear infused soup and a distant 2nd cousin that was also putins best man inherits 1 Link to comment Share on other sites More sharing options...
briny_ear Posted June 1, 2016 Share Posted June 1, 2016 So is this now the Roman Abramovich thread? Link to comment Share on other sites More sharing options...
spiezels Posted June 1, 2016 Share Posted June 1, 2016 So is this now the Roman Abramovich thread? Soz Link to comment Share on other sites More sharing options...
avfc456 Posted June 1, 2016 Share Posted June 1, 2016 All the signs point to the Premier League and Football League turning down Aston Villa’s £60million takeover by Dr Tony Xia’s Chinese consortium, on the grounds that they haven’t the funds to do so. Well-placed sources claim that American Randy Lerner, who is trying to offload the club at a knockdown price, has already been told that Xia will not pass the necessary financial tests. http://www.dailymail.co.uk/sport/article-3618506/Football-League-puts-B-teams-agenda-turn-flight-clubs-help-finance-revolutionary-proposal.html Link to comment Share on other sites More sharing options...
Villarocker Posted June 1, 2016 Share Posted June 1, 2016 ^^^ If said story is true we will be royally fooked next season ^^^ 1 Link to comment Share on other sites More sharing options...
Jimzk5 Posted June 1, 2016 Share Posted June 1, 2016 Well placed sources might aswell read "my mate reckons" 1 Link to comment Share on other sites More sharing options...
Jareth Posted June 1, 2016 VT Supporter Share Posted June 1, 2016 Well I suppose journos (ahem) are running out of time to get this sort of story in. As Pat Murphy has said, the best of them are pressing their noses against the glass at this point in time. So Charles Sale has some knockout insider contacts or he is rehashing that daft tweet from the other day to shock horror fill his column, literally filling out his word count. Plus its the Daily Heil, they don't believe that the Chinese are a great bunch of lads. Link to comment Share on other sites More sharing options...
John Posted June 1, 2016 Share Posted June 1, 2016 Time for the Doctor to rock into town with his suitcases bulging with money. Show the PL/FL the money Tony! Link to comment Share on other sites More sharing options...
sharkyvilla Posted June 1, 2016 Share Posted June 1, 2016 Charles Sale is basically just a sports gossip columnist, whilst he often has some interesting tidbits, I wouldn't necessarily hang on his every word. This would be a much bigger story and we wouldn't be about to appoint Di Matteo, I wouldn't have thought. Link to comment Share on other sites More sharing options...
Richard Posted June 1, 2016 Share Posted June 1, 2016 6 hours ago, briny_ear said: So is this now the Roman Abramovich thread? It's always been the Michael Knighton thread 1 Link to comment Share on other sites More sharing options...
briny_ear Posted June 1, 2016 Share Posted June 1, 2016 That Mail story surely just has to be complete bollocks? Not even Lerner could deliver such a steaming pile on our doorstep? And what would that mean about the judgement of his new henchman Hollis, so much admired on site? Link to comment Share on other sites More sharing options...
PieFacE Posted June 1, 2016 VT Supporter Share Posted June 1, 2016 14 minutes ago, briny_ear said: That Mail story surely just has to be complete bollocks? Not even Lerner could deliver such a steaming pile on our doorstep? I really wouldn't put it past him to be honest, would be quite fitting of his tenure here, Link to comment Share on other sites More sharing options...
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