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Brian Fantana said:
I've always been sceptical that Abramovich would just write off that £1.6bn loan.

What I didn't realise that the Boehly bid period of exclusivity is only 5 days. It was granted Friday so must be up unless it is 5 business days. I wouldn't be surprised if there's some cloak and dagger shit going on behind these reports coming out today. The timing feels convenient for Ratcliffe who wants to be the fall back bid.
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I worry that Radcliffe would give them Roman level backing. But I can't see the yanks(Boehly group) being happy to simply step aside even if the 5 day is breached. From what that bloke said to me there's a massive financial hole at the heart of the entity that fronts Chelsea FC. I don't think the due accounting diligence can be done and it all signed off in the 25 odd days left of the month. The other EPL chairmen including an extremely motivated Daniel Levy will want to know how the losses accrued will be covered without FFP issues. I think a points deduction if not relegation becomes more likely with each passing day..
 
Shotgunofmichalebrow said:
I worry that Radcliffe would give them Roman level backing. But I can't see the yanks(Boehly group) being happy to simply step aside even if the 5 day is breached. From what that bloke said to me there's a massive financial hole at the heart of the entity that fronts Chelsea FC. I don't think the due accounting diligence can be done and it all signed off in the 25 odd days left of the month. The other EPL chairmen including an extremely motivated Daniel Levy will want to know how the losses accrued will be covered without FFP issues. I think a points deduction if not relegation becomes more likely with each passing day..
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I thought Radcliffe was a tight arse, an arse as tight as a flies fanny.
 
Tomo said:
Fall back bid or not it can’t go through if the government thinks the money is going to Roman. Roman isn’t allowed to get a penny of the sale so the bid amounts make no difference to him, something odd is going on, why does he want bigger and bigger bids for charity??????
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I think Roman is about to drop the nice guy act Tommo. I think he wants a pound of fleash as the realisation dawns the Ukraine disaster and global pariah status is here to stay.
 
Roman asking for ever more money when he is not supposed to get a penny, something seriously dodgy with this. He is looking to get some cash somehow, he must be.
 
Shotgunofmichalebrow said:
I think Roman is about to drop the nice guy act Tommo. I think he wants a pound of fleash as the realisation dawns the Ukraine disaster and global pariah status is here to stay.
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That or he is shit scared of Putin, it’s only small but I can’t imagine Putin would turn down the chance to fuck over a ‘’U.K. cultural asset’’.
 
CarrieFi said:
Also, (I doubt it would happen, because Chelsea) but if Chelsea did get expelled from the PL next season, who would make up the numbers? Would a team from the PL not be relegated, or would an additional team come up from the Championship?
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I can't see them dropping to the Championship. More like League One.
 
Tomo said:
Fall back bid or not it can’t go through if the government thinks the money is going to Roman. Roman isn’t allowed to get a penny of the sale so the bid amounts make no difference to him, something odd is going on, why does he want bigger and bigger bids for charity??????
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But why has this come out now in the week the Boehly exclusivity contract ends? The timing isn't coincidental. This is the part from the Times article which suggests to me that someone has leaked this loan news in an attempt to torpedo the Boehly deal. Whatever is happening, this is going to run for a while.

Last week the consortium led by Todd Boehly, the co-owner of the Los Angeles Dodgers baseball team, was informed by Chelsea’s US bankers that it had been given a five-day period of exclusivity as preferred bidders.
But sources from the rival bid groups said it was only “days” before that decision was taken that they were informed that the loan, which is in trust in Jersey, needs to be repaid on the sale of the club.

When Abramovich, 55, put Chelsea up for sale, he said: “I will not be asking for any loans to be repaid”. It is believed that he is claiming the sanctions prevent him from being able to write off the debt, but that would be challenged by the government.

The bidding groups also now believe the late change to the structure of the sale could present a serious problem, not least for the Treasury officials whose task it is to examine the deal. That could lead to Jersey’s financial authorities being asked to look into the details of the loan.

“What kind of due diligence and comfort does the government have with the loan?” said one source from a rival bid group. “We need to follow the money here and see whether Clearlake’s [the private equity firm financing the Boehly bid] repayment of that debt meets with government approval. We sought the expertise of major figures in the banking world and they are struggling to see how more than £1.5 billion doesn’t end up with either Abramovich or his beneficiaries.”

The ultimate ownership of Camberley International Investments is unclear, but it appears to be linked to Abramovich or family members.

Fordstam’s latest accounts state: “Funding is provided by the ultimate controlling party, Mr R Abramovich.” The accounts also state in the “related party transactions” section that “Camberley International Investments Ltd provides funding to Fordstam Ltd and its subsidiaries as required to enable the Group to continue as a going concern”.

The accounts show that as of June 30, the balance on all related party loans was £1.514 billion though it is understood the debt now stands at close to £1.6 billion.

Jersey’s register of companies shows Camberley International Investments was first registered in August 2020 but it is difficult to ascertain the ultimate controlling parties. The company document was signed by Andrew Duncan, a director of Zedra Trust Company (Jersey) Ltd, a corporate services provider which works with “high net-worth individuals”.

The Times contacted Duncan and asked if Camberley International Investments was connected to Abramovich. He responded by saying: “We are not commenting on anything.” A spokeswoman for Abramovich did not respond when contacted for comment. Chelsea have also been approached for comment.
 
Shotgunofmichalebrow said:
I worry that Radcliffe would give them Roman level backing. But I can't see the yanks(Boehly group) being happy to simply step aside even if the 5 day is breached. From what that bloke said to me there's a massive financial hole at the heart of the entity that fronts Chelsea FC. I don't think the due accounting diligence can be done and it all signed off in the 25 odd days left of the month. The other EPL chairmen including an extremely motivated Daniel Levy will want to know how the losses accrued will be covered without FFP issues. I think a points deduction if not relegation becomes more likely with each passing day..
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Plus wouldn't it be in the interest of the other PL teams to delay their part in any decision making process with the PL and make the process drag on as long as possible if it means it ruins Chelsea?

Don't new owners have to be signed off by the other clubs?
 
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