Let's All Laugh At... Let's all laugh at Chelsea thread

worcestersauce · Mar 11, 2022

easley91 said:
What about those who are genuine folk that loved the club prior to Abramovich? Can we feel sorry for them or are you and everyone else putting them under the same brush? My dad has been a blue since he was a child. I feel sorry for him. His whole life dedicated to a club may end in a way nobody saw coming. Regardless of Abramovich and his money or the trophies they won in that time, a club going out of business because its owner is linked with an invasion is insane. The genuine fans like my dad may have their club taken away and it has come out of nowhere.

I feel for the genuine fans and the staff who work at the club. The admin staff. The people nobody gives a damn about apparently. Nobody has thought about them losing their jobs have they?

They were days off bankcruptcy when Abramovich took over so if they come out of this still going concern they've still come out of it ahead.
Fact is we talk about doing a Leeds but actually Leeds did a chelsea but didn't get an Abramovich to save them.
I'm not hoping for Chelsea to go under and I don't expect them to I suspect they'll just have a future of having to face reality.

animalmom · Mar 11, 2022

Ribble said:
Before the freeze came in I expect the plan was to do another debt to equity conversion, something he's done previously.

Roman Abramovich turns £340m of debt into equity as Chelsea loss falls

Roman Abramovich has wiped off his outstanding loans to render Chelsea almost debt-free

www.theguardian.com

Also its hilarious to read that article from 2009 talking about the club aiming for self-sufficiency by 2010.

OMG I remember reading that article at the time and laughing

Cornpattbuck · Mar 11, 2022

Ribble said:
Before the freeze came in I expect the plan was to do another debt to equity conversion, something he's done previously.

Roman Abramovich turns £340m of debt into equity as Chelsea loss falls

Roman Abramovich has wiped off his outstanding loans to render Chelsea almost debt-free

www.theguardian.com

Also its hilarious to read that article from 2009 talking about the club aiming for self-sufficiency by 2010.

Had completely forgotten about that...

mark87 · Mar 11, 2022

They folded yet?

NickHSpurs · Mar 11, 2022

soflapaul said:
Has it been explained how the 1.5B loan can be written off within the confines of FFP?

This is the most important thing from a pure footballing perspective. It cannot be allowed to just be written off with no punishment, if it’s allowed to happen we may as well all just give up now.

Saoirse · Mar 11, 2022

Surely a 1.5bn write off is the same as a 1.5bn injection, which is blatantly breaking FFP

Trix · Mar 11, 2022

waresy said:
You just know damn well that they will come out of this smelling of roses. A 1.5bn debt just written off and a new owner buying it for pittance.

Even if it is, and I don't think it will be, people are missing the bigger picture here. The debt is huge no question of that, but it's not a debt that's been there forever. It's accumulated over time and Abramovic has been consistently adding to it just to keep them where they are. Even if the debt is written off just to maintain their current status quo they are going to need an owner that is willing to do the same. That is very very unlikely.

They may come out of this ok, but there is very little chance they will be what they were, and they'll have to adapt and cut their cloth accordingly.

The only people that are willing to bank roll a club like they have currently been run won't be going anywhere near them. Sportswashing as far as new owners in this country is done.

Tucker · Mar 11, 2022

Monkey boy · Mar 11, 2022

littlewilly said:
Your Dad, respectfully, has been a great supporter of a Club who should have at least questioned why obscene amounts of money, at a time and place, should change football forever. I’ve said this before but I believe everything Chelsea and Manchester City have achieved in the last twenty years will be annotated with an asterisk, noted against their achievements. Maybe Newcastle will join them too. I’m immensely proud that Tottenham (and teams like Arsenal and Everton) have found their way through largely legitimate means.

Everton??

carmeldevil · Mar 11, 2022

Here's hoping

dirtyh · Mar 11, 2022

carmeldevil said:
Here's hoping

Tick tock. T-17 then.
Hope they fold, the so called ‘true’ fans can get to fuck too, ask them if they’d give back any one of their blood money trophies. No? Thought not.

****s

KILLA_SIN · Mar 11, 2022

brasil_spur said:
You're probably right, but the market should decide that, no-one else. If there is a fit a proper investor who wants to buy the club and following all due diligence and proper process the club is transferred over to that person then so be it. But that should be the only way here, no-one should be going out of their way to stop them going bust.

I don't personally think the fit and proper test will be still robust enough, I think the bar on that is very low in the UK as to who can bring money into the country

Cream · Mar 11, 2022

I heard a fan on the radio saying in his best Chelsea accent 'it's a stich up'

****

I hope Blood Money FC goes to the wall.

carmeldevil · Mar 11, 2022

Yid-ol · Mar 11, 2022

carmeldevil said:

Their owner is part funding it.... But if we also take what they say there. Let's ban all English clubs playing in Europe this year as well as their sanctions :whistle:

sounds fair to me

thebenjamin · Mar 11, 2022

Saoirse said:
Surely a 1.5bn write off is the same as a 1.5bn injection, which is blatantly breaking FFP

It's not a lump sum though, it's all been accounted for over the last 18 years. Don't see a way it violates FFP, sadly.,

mmidgers · Mar 11, 2022

thebenjamin said:
It's not a lump sum though, it's all been accounted for over the last 18 years. Don't see a way it violates FFP, sadly.,

Cream · Mar 11, 2022

Their trophies should be removed or at the very least given an *

Trix · Mar 11, 2022

Cream said:
Their trophies should be removed or at the very least given an *

Why?

spursfan77 · Mar 11, 2022

Inq said:
Does anyone have a realistic outcome to all this?
Because I have no idea. Doesn’t seem like an easy task getting someone to pay 3billion these days

The sanctions were only put in place yesterday with a licence for the rest of the season. It’s feasible nothing happens until then.

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