Announcement

Collapse
No announcement yet.

Peter? Roman. About that £578M...

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Peter? Roman. About that £578M...

    ...it's a loan!

    OK, an interest-free loan, but still one Chelsea have no realistic prospect of ever repaying.

    #2
    Peter? Roman. About that £578M...

    Some scary reading in there for fans of both clubs.

    Comment


      #3
      Peter? Roman. About that £578M...

      I understand that Kenyon is trying to hide all of Daria's auction catalogues . . .

      A bit more seriously, I would be shocked if Abramovich has any real security for that "loan"; it surely isn't secured by a pledge on assets (as the pledge would have to be to disclosed in the accounts), and the probability that he would seek to recoup the funds by threatening the company with insolvency is extremely small (as is his possibility of getting any significant amount back from an insolvency proceeding).

      It still is quite a staggering amount of money, though. The Dallas Cowboys are generally thought to be the most valuable sports "franchise" in the world, and Forbes' latest estimate of what it would cost to buy the Cowboys lock, stock, barrel and stadium is in the range of 750 million pounds.

      Comment


        #4
        Peter? Roman. About that £578M...

        If all that is so, Urs, why structure the investment as a loan? Is there some possible tax benefit?

        Comment


          #5
          Peter? Roman. About that £578M...

          I was thinking about that myself.

          There likely is a tax benefit, and it also makes whatever entity Roman is using to fund the club look more solvent than it in fact is.

          Comment


            #6
            Peter? Roman. About that £578M...

            It's also hiding his fortune from the grasping hands of the Russian state. I'm sure many of you know about the treatment of some of the other Oligarchs. Although his position becomes murkier when considering he is governor of Chukotka.

            Comment


              #7
              Peter? Roman. About that £578M...

              the fortune came courtesy of the russian state though. They paid two to three times over the odds for sibneft.

              Who would have thought that the the lovely daria was so into Francis Bacon

              Comment


                #8
                Peter? Roman. About that £578M...

                Even if Abrahamovic is unlikely to drive Chelsea out of business in an effort to get his money back, it's got to be a source of reflection for anyone looking to take Chelsea over.

                Comment

                Working...
                X