MachoFantastico Posted February 24, 2022 Share Posted February 24, 2022 Taken way to long for the government to take action against him. They've known about his connections to Putin for years now and not done a damn thing. Sadly I doubt anything will change. Link to comment Share on other sites More sharing options...
LondonLax Posted February 24, 2022 Share Posted February 24, 2022 Is there any concrete news that is not just ´twitter rumour'? Link to comment Share on other sites More sharing options...
MrBlack Posted February 25, 2022 Share Posted February 25, 2022 Surely his assets in this country are in line to be seized? Would that extend to Chelsea football club? Link to comment Share on other sites More sharing options...
ender4 Posted February 25, 2022 Share Posted February 25, 2022 Nothing is going to happen to Abramovich or Chelsea. The twitter rumour even basically says as much.. only that he can't live in the UK, which he already doesn't anyway. 1 Link to comment Share on other sites More sharing options...
NeilS Posted February 25, 2022 Share Posted February 25, 2022 From Forbes.com - I have pasted a couple of paragraphs taken from the article in the link that could cause Chelsea problems, and worry the fans in the upcoming weeks. I can't see that happening though, I am not sure what would be gained by doing that. Chelsea owe $2bn to Abramovic Quote As pressure mounts to punish oligarchs for Russian President Vladimir Putin’s invasion of Ukraine, Roman Abramovich has a multibillion-dollar insurance policy should the U.K. come after his assets: his beloved Chelsea FC. The club Abramovich bought for around $190 million in 2003, loved, nurtured and built into the 2021 UEFA Champions League winner was valued by Forbes at $3.2 billion last year. It owes the Russian billionaire, its majority owner, a staggering $2 billion. Kieran Maguire, a soccer-finance lecturer at the University of Liverpool, says it gives Abramovich no shortage of leverage in the U.K., depending on how deep sanctions might go. The worst-case scenario for Chelsea fans is now on the table. “If he wants to get his own back, he could call in the loan from Chelsea,” Maguire says. “That means Chelsea goes out of business, and Putin will be able to say, ‘Well, you started it.’” Maguire describes the loans as leverage against any significant attack on his assets. “The club does not have the resources to pay the money back,” Maguire says. “If Chelsea was sold, ultimately you sell for enterprise value. Whether this money goes in the form of equity or debt is irrelevant. But the club, potentially, could be on the hook here because he could demand the money back.” Maguire says Abramovich could effectively argue that his assets are frozen, he needs the money, “and then the club ceases to be.” Link to comment Share on other sites More sharing options...
OutByEaster? Posted February 25, 2022 Moderator Share Posted February 25, 2022 I'm prepared to take that risk. 4 Link to comment Share on other sites More sharing options...
nick76 Posted February 25, 2022 Share Posted February 25, 2022 6 hours ago, NeilS said: From Forbes.com - I have pasted a couple of paragraphs taken from the article in the link that could cause Chelsea problems, and worry the fans in the upcoming weeks. I can't see that happening though, I am not sure what would be gained by doing that. Chelsea owe $2bn to Abramovic As pressure mounts to punish oligarchs for Russian President Vladimir Putin’s invasion of Ukraine, Roman Abramovich has a multibillion-dollar insurance policy should the U.K. come after his assets: his beloved Chelsea FC. The club Abramovich bought for around $190 million in 2003, loved, nurtured and built into the 2021 UEFA Champions League winner was valued by Forbes at $3.2 billion last year. It owes the Russian billionaire, its majority owner, a staggering $2 billion. Kieran Maguire, a soccer-finance lecturer at the University of Liverpool, says it gives Abramovich no shortage of leverage in the U.K., depending on how deep sanctions might go. The worst-case scenario for Chelsea fans is now on the table. “If he wants to get his own back, he could call in the loan from Chelsea,” Maguire says. “That means Chelsea goes out of business, and Putin will be able to say, ‘Well, you started it.’” Maguire describes the loans as leverage against any significant attack on his assets. “The club does not have the resources to pay the money back,” Maguire says. “If Chelsea was sold, ultimately you sell for enterprise value. Whether this money goes in the form of equity or debt is irrelevant. But the club, potentially, could be on the hook here because he could demand the money back.” Maguire says Abramovich could effectively argue that his assets are frozen, he needs the money, “and then the club ceases to be.” If his assets are frozen of which one would be Chelsea and the loan to Chelsea, he would have no ability to ask for the money back until unfrozen surely? 1 Link to comment Share on other sites More sharing options...
kidlewis Posted February 25, 2022 Share Posted February 25, 2022 3 minutes ago, nick76 said: If his assets are frozen of which one would be Chelsea and the loan to Chelsea, he would have no ability to ask for the money back until unfrozen surely? That’s how I see it. and he’s also barred from entering the UK as part of the sanctions Link to comment Share on other sites More sharing options...
NeilS Posted February 25, 2022 Share Posted February 25, 2022 (edited) 5 minutes ago, nick76 said: If his assets are frozen of which one would be Chelsea and the loan to Chelsea, he would have no ability to ask for the money back until unfrozen surely? Yeah, it doesn’t make sense to me either. Unless he means RA is purposely going to throw away his money by crashing Chelsea into a liquidation situation, which could have knock on effects with whoever else is owed money/transfer fees by Chelsea.This guy Kieran Maguire is supposedly an expert in that field though, well his name seems to crop up regularly in these football finance stories. Edited February 25, 2022 by NeilS Link to comment Share on other sites More sharing options...
nick76 Posted February 25, 2022 Share Posted February 25, 2022 (edited) 7 minutes ago, NeilS said: Yeah, it doesn’t make sense to me either. Unless he means RA is purposely going to throw away his money by crashing Chelsea into a liquidation situation, which could have knock on effects with whoever else is owed money/transfer fees by Chelsea.This guy Kieran Maguire is supposedly an expert in that field though, well his name seems to crop up regularly in these football finance stories. Maybe but my understanding is that RA can do nothing at the moment, he has the ability to do nothing. When his assets are frozen, it’s essentially temporarily taken away from him so he couldn’t crash Chelsea into anything. He currently has as much legal power over Chelsea and the loan to Chelsea as you and I, which is none. Obviously Kieran may know a lot more than we do so I’ll defer to his words but when your assets are frozen, you can’t do a damn thing. edit: just checked his (Kieran) academic qualifications and career…very impressive. Edited February 25, 2022 by nick76 Link to comment Share on other sites More sharing options...
Jareth Posted February 25, 2022 VT Supporter Share Posted February 25, 2022 It's not **** difficult - rob RA of his Uk investments and **** russia Link to comment Share on other sites More sharing options...
villa89 Posted February 25, 2022 Share Posted February 25, 2022 (edited) 22 minutes ago, Jareth said: It's not **** difficult - rob RA of his Uk investments and **** russia It is though. The UK is basically a money laundering facility for russian oligarchs. Look at the volume of wealth they bring to london. It's the same reason nobody really cares about ukraine, they don't have any money. Dont piss off rich people because they will just move their money somewhere else. Dubai or rio or Beijing will take that money quick fast. Edited February 25, 2022 by villa89 Link to comment Share on other sites More sharing options...
Zatman Posted February 26, 2022 Share Posted February 26, 2022 I think Chelsea are prepared for this. Made so much profit on average players and won 2 Champions Leagues Link to comment Share on other sites More sharing options...
OutByEaster? Posted February 26, 2022 Moderator Share Posted February 26, 2022 59 minutes ago, Zatman said: I think Chelsea are prepared for this. Made so much profit on average players and won 2 Champions Leagues You'd think so, but they're not - they're a much bigger company than when Abramovich took over, they have a much higher top line - but ultimately it sits in a huge pile debt made up of Abramovich's money - and he hasn't given that money to Chelsea, he's loaned it to them. The loan debt is enormous. It's another of those ways in which our owners are superb, all of the money they've put in has been through share issues - it's money that made the company of Aston Villa bigger - if they left, they'd look to make money on their selling price, but we wouldn't owe them a penny. Chelsea on the other hand would have a selling price that wouldn't be a realistic option for potential owners - if the club is worth £800m - you'd need to pay that, and the £1.7bn they owe Roman. No one would want to pay £2.5bn for an asset worth a third of that, so they'd have to look to sell assets or borrow - it makes the club almost unsellable and is something of a ticking time bomb for them. 1 Link to comment Share on other sites More sharing options...
blandy Posted February 26, 2022 Moderator Share Posted February 26, 2022 5 hours ago, OutByEaster? said: he hasn't given that money to Chelsea, he's loaned it to them It’s a mix. In the past he’s done the same as our owners - converting debt to equity. I think I read that when UEFA FFP came in, or around that time, he wrote off nearly all the debt the club owed him. Obviously since then he’s subsequently loaned them a load more, but I just thought I’d be pedantic. 1 Link to comment Share on other sites More sharing options...
Demitri_C Posted February 26, 2022 Share Posted February 26, 2022 Chelsea are not self reliant. Their wage bill is ridiculous. If the roman money runs out i think they could be in massive trouble. Link to comment Share on other sites More sharing options...
Zatman Posted February 26, 2022 Share Posted February 26, 2022 2 hours ago, Demitri_C said: Chelsea are not self reliant. Their wage bill is ridiculous. If the roman money runs out i think they could be in massive trouble. They are making 100 million or so a season on player transfers like Tammy or Tomori. They dont pay wages as high as City and United do plus all that TV money They will be fine whatever happens, they are pretty much the big team in London Link to comment Share on other sites More sharing options...
Only2McInallys Posted February 26, 2022 Share Posted February 26, 2022 (edited) 55 minutes ago, Zatman said: They are making 100 million or so a season on player transfers like Tammy or Tomori. They dont pay wages as high as City and United do plus all that TV money They will be fine whatever happens, they are pretty much the big team in London I think Tottenham(unbelievably) and Arsenal both have much bigger fan bases,Chelsea have to advertise on the radio to sell tickets for European games. They are able to sustain losses of up to £100 million only due to RA.They do have a fantastic academy and are making big profits from loans and sales of young players which keeps them inside limits of FFP. Their financial model is totally dependent on RA’s bankrolling. You would think they will have to sanction RA and this will be the end of them being a top 4 club.You could see them being another Leeds circa 2005. Edited February 26, 2022 by Only2McInallys 1 Link to comment Share on other sites More sharing options...
PaulC Posted February 26, 2022 Share Posted February 26, 2022 28 minutes ago, Only2McInallys said: I think Tottenham(unbelievably) and Arsenal both have much bigger fan bases. They are able to sustain losses of up to £100 million only due to RA.They do have a fantastic academy and are making big profits from loans and sales of young players which keeps them inside limits of FFP. Their financial model is totally dependent on RA’s bankrolling. You would think they will have to sanction RA and this will be the end of them being a top 4 club.You could see them being another Leeds circa 2005. I agree its got to have a massive impact on them and Arsenal and Spurs have always been bigger clubs. Link to comment Share on other sites More sharing options...
Tommo_b Posted February 26, 2022 Share Posted February 26, 2022 Yeah Chelsea will struggle without Abramovichs funding. Weirdly not sure how much of an impact sanctions would have on Abramovich, more impact on Chelsea football club is my guessing. Link to comment Share on other sites More sharing options...
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