Ramarena Posted February 26, 2022 Share Posted February 26, 2022 Handing stewardship of the club over to the clubs charitable foundation https://news.sky.com/story/chelsea-owner-roman-abramovich-to-relinquish-stewardship-of-club-12552700 Rammy03 1 Link to comment Share on other sites More sharing options...
GenBr Posted February 26, 2022 Share Posted February 26, 2022 Does that mean he is cutting all ties then. I.e will he still fund the club? Wont really matter if he isnt as James Ratcliffe will step in, but they do owe ambramovich a lot of money Link to comment Share on other sites More sharing options...
Ramarena Posted February 26, 2022 Author Share Posted February 26, 2022 Not sure how it will play out. I wonder if his assets are being/about to be frozen, so this is possibly a way around Chelsea being part of that problem. Link to comment Share on other sites More sharing options...
Boycie Posted February 26, 2022 Share Posted February 26, 2022 Damn, maybe Mike Ashley will step in? Link to comment Share on other sites More sharing options...
EtoileSportiveDeDerby Posted February 26, 2022 Share Posted February 26, 2022 Probably some kind of accountancy trick so if his assets are frozen the club is not affected. The timing of this is ominous. Ramarena and therealhantsram 2 Link to comment Share on other sites More sharing options...
PistoldPete Posted February 26, 2022 Share Posted February 26, 2022 2 hours ago, Ramarena said: Handing stewardship of the club over to the clubs charitable foundation https://news.sky.com/story/chelsea-owner-roman-abramovich-to-relinquish-stewardship-of-club-12552700 Maybe a condemnation of Vlad would be appropriate at this stage? Ramarena 1 Link to comment Share on other sites More sharing options...
Comrade 86 Posted February 27, 2022 Share Posted February 27, 2022 3 hours ago, PistoldPete said: Maybe a condemnation of Vlad would be appropriate at this stage? Not really. He had two choices. Denounce Putin, or do exactly what he's done. With the UK far keener to sanction Russians than take more direct action against Putin himself, he clearly feared for the club's future if he stayed at the helm. He's also written off £1.5 billion in loans. Not sure too many Chelsea fans will take issue with his decision. Link to comment Share on other sites More sharing options...
Tyler Durden Posted February 27, 2022 Share Posted February 27, 2022 Am sure this is some kind of BS accounting sleight of hand meaning he can still pump a grotesque amount of money into the club by proxy instead Link to comment Share on other sites More sharing options...
Gaspode Posted February 27, 2022 Share Posted February 27, 2022 8 hours ago, 86 Hair Islands said: Not really. He had two choices. Denounce Putin, or do exactly what he's done. With the UK far keener to sanction Russians than take more direct action against Putin himself, he clearly feared for the club's future if he stayed at the helm. He's also written off £1.5 billion in loans. Not sure too many Chelsea fans will take issue with his decision. Not sure he's written anything off - just handed over day-to-day running to the trustees. Suspect his main motive is to ensure he doesn't lose £1.5BN..... Tyler Durden 1 Link to comment Share on other sites More sharing options...
kevinhectoring Posted February 27, 2022 Share Posted February 27, 2022 (edited) 48 minutes ago, Tyler Durden said: Am sure this is some kind of BS accounting sleight of hand meaning he can still pump a grotesque amount of money into the club by proxy instead Presumably he’s afraid sanctions will result in expropriation and that he’ll lose the club. I’d guess he’s transferred control to the trust and possibly ownership as well. He’ll have done it in a way that should escape sanctions. And I’d guess he’s got a call option to get the whole thing back when sanctions are reversed (or one of his associates or family members has one) Edited February 27, 2022 by kevinhectoring Link to comment Share on other sites More sharing options...
kevinhectoring Posted February 27, 2022 Share Posted February 27, 2022 12 hours ago, PistoldPete said: Maybe a condemnation of Vlad would be appropriate at this stage? The club issued a statement. Does not condemn Putin. Just says the situation is terrible watched the Everton City game with someone who works at Chelsea. The RA news was on sky during the second half (he went pale) and employees didn’t get a message until well after the game. And then all they got was the RA statement. It’s not only dcfc/q who don’t care about employees comms Link to comment Share on other sites More sharing options...
therealhantsram Posted February 27, 2022 Share Posted February 27, 2022 14 hours ago, EtoileSportiveDeDerby said: Probably some kind of accountancy trick so if his assets are frozen the club is not affected. The timing of this is ominous. It's exactly this. A ploy to distance himself from the club so when his assets eventually get frozen Chelsea roll on. He still owns the club. He still bankrolls the club. EtoileSportiveDeDerby 1 Link to comment Share on other sites More sharing options...
Simmo’s left foot Posted February 27, 2022 Share Posted February 27, 2022 That's exactly why footballs in a mess. Why should anybody have to "Bankroll" the club? It should operate within its own cash flow and budget accordingly and not be allowed to do anything else by the football authorities.. Until football is made to do that then we will still have clubs getting in a mess. The Scarlet Pimpernel 1 Link to comment Share on other sites More sharing options...
Comrade 86 Posted February 27, 2022 Share Posted February 27, 2022 4 hours ago, Gaspode said: Not sure he's written anything off - just handed over day-to-day running to the trustees. Suspect his main motive is to ensure he doesn't lose £1.5BN..... He already lost it! This is the sum that that he's allegedly ploughed into the club including the last remaining £340 million still owed to him. I see @Tyler Durden agrees with you but it's all there in the public domain. Link to comment Share on other sites More sharing options...
Gaspode Posted February 27, 2022 Share Posted February 27, 2022 20 minutes ago, 86 Hair Islands said: He already lost it! This is the sum that that he's allegedly ploughed into the club including the last remaining £340 million still owed to him. I see @Tyler Durden agrees with you but it's all there in the public domain. It was quoted on the news reports last night that he had loaned them £1.5BN but the change or stewardship wouldn't see him demanding his money back - suggests to me that he's funded them though loans rather than donations.... Tyler Durden 1 Link to comment Share on other sites More sharing options...
Comrade 86 Posted February 27, 2022 Share Posted February 27, 2022 2 hours ago, Gaspode said: It was quoted on the news reports last night that he had loaned them £1.5BN but the change or stewardship wouldn't see him demanding his money back - suggests to me that he's funded them though loans rather than donations.... What am I missing here? If I lend you a tenner but don't ask for it back it becomes a gift does it not? Link to comment Share on other sites More sharing options...
Gaspode Posted February 27, 2022 Share Posted February 27, 2022 Just now, 86 Hair Islands said: What am I missing here? If I lend you a tenner but don't ask for it back it becomes a gift does it not? You’re missing the point that the loans are still loans - he’s not calling them in and (at this point) he’s not writing them off either…. Link to comment Share on other sites More sharing options...
TigerTedd Posted February 27, 2022 Share Posted February 27, 2022 2 hours ago, 86 Hair Islands said: What am I missing here? If I lend you a tenner but don't ask for it back it becomes a gift does it not? If you don’t ask for it back. Until you do. It’s not a gift until you say it’s a gift. Link to comment Share on other sites More sharing options...
Comrade 86 Posted February 27, 2022 Share Posted February 27, 2022 (edited) 2 hours ago, Gaspode said: You’re missing the point that the loans are still loans - he’s not calling them in and (at this point) he’s not writing them off either…. Err, ok... 44 minutes ago, TigerTedd said: If you don’t ask for it back. Until you do. It’s not a gift until you say it’s a gift. https://www.independent.ie/sport/soccer/chelsea-free-from-debt-as-abramovich-writes-off-340m-loan-26595291.html In their financial results for the 12 months to June 30, 2009, the club announced that Abramovich has converted his outstanding £340m interest-free loan in Chelsea into equity, leaving them effectively debt-free. Converted to equity and transferred to the Trust... ?♀️ Edited February 27, 2022 by 86 Hair Islands Link to comment Share on other sites More sharing options...
kevinhectoring Posted February 27, 2022 Share Posted February 27, 2022 9 hours ago, Gaspode said: It was quoted on the news reports last night that he had loaned them £1.5BN but the change or stewardship wouldn't see him demanding his money back - suggests to me that he's funded them though loans rather than donations.... Yes probably funded by loans and for tax reasons as well as the more obvious ones. So I’d guess that as well as protecting his equity interests from sanction he has also probably transferred his loans to some crony or other Link to comment Share on other sites More sharing options...
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