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When he lent the money they would look if it broke ffp, owners are allowed to invest some he could have just written it off at the time but chose to have as non-interest debt.Theres's a bit of a Q&A going on on TS atm.....
"If RA writes off the 1.5bn debt then surely that's essentially a loss and massively breaches FFP"
"No.... FFP only concerns itself with revenue.... Issuing further shares and loans doesn't count......."
Surely that can't be right?
Why would City etc. fuck around with fake sponsorship deals if they can just loan the club 1bn and then write it off a year later.......
When he lent the money they would look if it broke ffp, owners are allowed to invest some he could have just written it off at the time but chose to have as non-interest debt.
If he wanted to for example he could pay for a new ground 100% and it wouldn't break ffp as infrastructure is outside it.Seems awfully open to abuse.......
Not a great deal more insight but still a good read
What do Abramovich sanctions mean for Chelsea and their fans?
With owner’s assets seized, club are confined to ‘football-related’ activity
March 10 2022, The Times
Chelsea are in an unprecedented state of limbo after the UK government issued sanctions against Roman Abramovich, putting the sale of the club on hold and stopping the European champions from operating as a business.
Although the government has granted the club a licence that will enable Thomas Tuchel’s side to continue playing — they meet Norwich City in a Premier League encounter at Carrow Road this evening — they are no longer able to operate on any commercial level, so that they cannot sell any match tickets. The licence will be limited to “football related activities”.
Only season-ticket holders and those who have already purchased their tickets will be allowed to attend matches, with Tuchel now unable to plan any business in the transfer market this summer. It will be impossible to renegotiate contracts with players, but existing players and staff’s salaries will still be paid under the licence. If Chelsea are prevented from negotiating contracts, then Andreas Christensen, Antonio Rüdiger and César Azpilicueta will leave as free agents in the summer.
•Chelsea owner Roman Abramovich sanctioned by UK over links to Russia
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Three, the British telecoms company which is the team’s principal shirt sponsor, confirmed this morning that it was reviewing its relationship with the club. The deal is believed to be worth £40 million a year. The Times understands other prominent Chelsea sponsors are also reviewing their position. An emergency meeting is taking place at Stamford Bridge this morning.
The sale of the club will be put on hold and the government will have to issue another special licence for it to be sold. As well as a freeze on ticket sales, merchandise sales have also been banned, with the club shop closing this morning, but catering facilities at Stamford Bridge will remain open. Abramovich will not be allowed to put any money into the club or take any out of it.
There was already discontent among senior players last week after they discovered Abramovich’s plans to sell the club through the media. A meeting with the squad then was taken by Petr Cech, the technical adviser, and David Barnard, the club secretary, when they were told to focus on football.
Some players now fear for the future of the club and suspect many team-mates will look to jump ship, although there are some doubts over whether that is possible at this stage. Rival clubs have already begun attempting to take advantage of the situation by making subtle advances for Chelsea players, while there are also fears that Tuchel will look to leave.
The government’s licence, which initially runs until May 31, states: “Remuneration, allowances and pensions of all employees of the club, including the wages of players and coaching staff . . . are payable under obligations which pre-date the date of this licence and are due in the period of this licence.”
It also permits:
• “Reasonable travel costs” to and from fixtures up to a maximum of £20,000
•“Reasonable costs necessary” including security, stewarding and catering up to £500,000 per match
•Payments to and from other clubs for existing transfer and loan deals
• Broadcasters may continue to show Chelsea matches
•Third parties who have club merchandise already in stock can sell it “on the condition that no funds or other financial benefits are made available to the club” or Abramovich.
Government officials have been in touch with Chelsea about the £20,000 limit on travel costs and have been told the club could comply for domestic fixtures. There is some flexibility under the licence for more to be spent on travel for European away matches, such at Chelsea’s Champions League trip to Lille next week.
Last week Abramovich announced his intention to sell the club, appointing a US merchant bank to lead the search for a new owner, in anticipation of sanctions being imposed on Russian oligarchs in response to the invasion of Ukraine. Abramovich, who has owned Chelsea since 2003, said that he would write off the £1.5 billion loan owed to him, donating the net proceeds of any sale to the victims of war in Ukraine.
A number of billionaires in America and Europe have already expressed an interest, including the British property tycoon Nick Candy, with The Raine Group inviting potential buyers to table their first bids by next Tuesday. While more than ten potential bidders have expressed an interest, The Times understands there are three outstanding candidates.
That process, however, has now been halted by the UK government’s intervention. Abramovich has had all his assets in the UK frozen, including his £200 million property portfolio in London. The oligarch will be formally barred from travelling to the UK and conducting financial transactions with any individuals or businesses in this country.
The government would need to give special dispensation to allow the sale to go ahead and Abramovich would be barred from receiving any funds. “He will not get a penny from the sale of the club,” a government source has told The Times.
Government insiders say the measures are aimed to protect the integrity of the Premier League’s competition by allowing Chelsea to continue to operate and fulfil their fixtures but to ensure that there is no benefit to Abramovich in continuing to own the club. The Premier League has been in talks with the government since last week. The proposal made by Abramovich of passing the stewardship of the club to Chelsea’s charitable foundation has also been ruled out.
Abramovich has a 15-bedroom mansion at Kensington Palace Gardens, valued at more than £150 million, and a three-storey penthouse at Chelsea Waterfront acquired in 2018 for a reported £22 million. He was reportedly preparing a fire sale.
Seven other high-profile oligarchs have been sanctioned including Oleg Deripaska, the owner of the EN+ Group — a multi-lateral with interests in mining, metals and the energy market. Igor Sechin, the chairman of the Russian state oil company Rosneft, has also been sanctioned.
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It's the fans that you gotta feel sorry for.........................
Yeah, fuck that. Fuck Chelsea!
Go fuck yourself goat. Done with this forum tbh, everyone has turned into an absolutist cunt of late.
No room for nuance or humanity just 100% blind tribalism and conformity to whatever the popular opinion that's being crammed down everybody's throats happens to be.
Most of them were too thick to understand. To be honest, there are knowledgable people in the press and media who stayed silent and they are complicit in this more than Chelsea fans (who struggle to understand most things let alone geopolitics)Chelsea fans celebrated every win, every trophy, knowing it was all built with dirty Russian oligarch money. A bit of humility and regret, rather than crowing Abramovich's name like they did last weekend, wouldn't go amiss.
You've spelt Scouse incorrectly.I assume they will go into some Citeh-esque victim complex.
"A lot of you wont remember but there used to be racism at this club that's all be stamped out!"