No other chairman has had to compete against two oil money doped clubs?
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Management FFP / PSR Requirements & Breaches
- Thread starter Ulrika-ka-ka-ka
- Start date
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Not in 'that' sense.... No. (Damn the internetty implications of "triggered".)
What I've been saying isn't a matter of being 'cool cucumbers'....
Anyway; already said my piece.
......And I learned a new word: ""iatrogenic". Handy.
Oh god it’s the battle of the WUMs in here now!
When a company buys an entity from another company, 99/100 the seller has to warrant certain things, such as no outstanding tax liability, no fraud etc.
Expect Borhly to go after Abramovich if Chrlsea found guilty based on mis-representation of financial wellbeing.
Is he still in Israel?
I have no idea what I'm talking about, so I will prefix this with admitting this but surely you don't buy something as big as a football club from a known oligarch with shady links to Putin and just take his say-so if he says "yeah it's all good mate". You don't even buy a house without solictors seeing and being satisfied with supporting documentation.
Something always stank about that sale though...... The gov. were involved in massaging it through.
You are exactly right, no-one is dropping £4B on an asset without some due diligence on the accounts beforehand, what's more it was the worst kept secret in the football world that Roman was using Chelsea as a vehicle to launder his cash, so if we knew that then imagine the kind of close circles businessman move in and the insider info they have - Boehly was more than aware what he was investing into.
If anything he likely just assumed that they wouldn't come down hard as it wasn't on his watch... A bit like he probably assumed he'd just pay the fines if he got busted by FFP for over-spending.
5-d chess.Perhaps, just perhaps Levy/ENIC actually know what they're doing afterall?!
Not so
At the moment Spurs get 'Tottenham Hotspur' stadium broadcast around the world whenever there is Beyonce/Adele et al concerts (viewing is in tens of millions), NFL games etc - and Sponsors respond by paying higher sums as they know their sponsorships get broadcast too.
So having our name broadcast round the world has huge name recognition (= dollar value) which we lose if there is a naming rights deal.
It wouldn't surprise me if Spurs have worked out at what price its advantageous to have a naming rights deal which might be say £25m pa for 10 years as the current arrangements are worth say £20m pa.
So a naming rights deal at a low price = lost value, at £25m pa, extra value might be £5m pa (or enough to buy and pay wages of a Gift Orban not an Victor Osimhen)
They don’t but apparently the interest payments do, which was a surprise to Everton.
2 yrs ago they were paying 95% of their turnover in wages. They voted for the rules, get on with it.
For comparison our wage to turnover was 47% in 21/22.
Evertons argument that they could have got 80m for Richarlison Is laughable. Most people thought he was overpriced at 50-60m, including most people on here I would think.
Deadline day should be interesting. Loans, loans and more loans.
Also, remember when the take-over happened; part of the deal was that he had to pledge further investment to the tune of something like another billion quid... Was there an oversight in him thinking that he could just spend that money without FFP consequence?
The Richarlison thing is dumb.... It doesn't matter what you thought you might get. If they gambled on the basis of a hypothetical price-tag; that's their own silly fault.
ignorance of the law is no excuse
otherwise everyone drives at 150 mph on a motorway and says when caught 'ooh I didn't know there was a speed limit'
He obviously did know at least about some of it but thought FFP breaches could be paid off.
New Chelsea owner Todd Boehly held £100m back from takeover cost
Todd Boehly held back £100million from his purchase of Chelsea amid concerns the club could inherit “unforeseen liabilities” further down the line.
www.standard.co.uk
‘’But days before the competition of the deal, it was agreed that some money would be held back because of the club’s financial complexities under Abramovich. Concerns were raised by the Boehly consortium, who are principally funded by Clearlake Capital, because of the speed with which they had to close the deal.‘’
LOL.... As if that was my general sentiment.
Possibly but the complexity of the operational may have been too much even for decent legal teams. As per my above post it sounded like they didn’t fully understand all the complex finances. Boehly badly wanted a football club but that football club was like unwinding Lehman Brothers derivatives and MBS books post 2008.
He obviously did know at least about some of it but thought FFP breaches could be paid off.
New Chelsea owner Todd Boehly held £100m back from takeover cost
Todd Boehly held back £100million from his purchase of Chelsea amid concerns the club could inherit “unforeseen liabilities” further down the line.
£100m would be a small price to pay for decades of cheating resulting in the vast economic benefit from winning and the rocketing profile of being seen as one of the world's biggest/most successful clubs.... Particularly if factored into the initial price of purchase.
(Fucking hate the arrogance of the mega-rich in thinking that a cheque-book magically makes any problems go away........)