ewerk 30610 Posted March 10, 2022 Share Posted March 10, 2022 6 minutes ago, Kevin Carr's Gloves said: I wonder how much the club has in the bank and if that will be frozen. Basically I am hoping the players will be completely fucked off by Sunday. About £16m at last count. Which is enough to pay two weeks wages. Link to comment Share on other sites More sharing options...
Christmas Tree 4725 Posted March 10, 2022 Share Posted March 10, 2022 Didn’t take long Tor talkSPORT to bring Newcastle etc into it. Link to comment Share on other sites More sharing options...
Rayvin 5223 Posted March 10, 2022 Share Posted March 10, 2022 They surely can't just have been living day to day out of his pocket though, they must generate enough money to actually be sustainable..? Link to comment Share on other sites More sharing options...
ewerk 30610 Posted March 10, 2022 Share Posted March 10, 2022 3 minutes ago, Rayvin said: They surely can't just have been living day to day out of his pocket though, they must generate enough money to actually be sustainable..? Cash flow will fluctuate depending on when cash is received. Their largest sources of funds are likely to be prize money, TV money, season tickets and sponsorship. I'd imagine that right now the coffers are pretty empty. Link to comment Share on other sites More sharing options...
Tom 14011 Posted March 10, 2022 Share Posted March 10, 2022 7 minutes ago, Christmas Tree said: Didn’t take long Tor talkSPORT to bring Newcastle etc into it. It’s fair enough. Our lot are just as bad if not worse. 1 Link to comment Share on other sites More sharing options...
Rayvin 5223 Posted March 10, 2022 Share Posted March 10, 2022 Shedend's thread on this is now viewable: https://www.theshedend.com/topic/32425-roman-abramovich-chelsea-fc-sanctioned/page/48/#comments They think they're fucked, is the tl;dr version. Link to comment Share on other sites More sharing options...
trophyshy 7083 Posted March 10, 2022 Share Posted March 10, 2022 Link to comment Share on other sites More sharing options...
Rayvin 5223 Posted March 10, 2022 Share Posted March 10, 2022 2 minutes ago, ewerk said: Cash flow will fluctuate depending on when cash is received. Their largest sources of funds are likely to be prize money, TV money, season tickets and sponsorship. I'd imagine that right now the coffers are pretty empty. Fair enough but ffs you'd think they'd have some operational contingencies built into their accounts. Maybe they'll switch over to bank loans I suppose. How long this lasts is the real question in terms of the impact this has. Link to comment Share on other sites More sharing options...
ewerk 30610 Posted March 10, 2022 Share Posted March 10, 2022 1 minute ago, Rayvin said: Fair enough but ffs you'd think they'd have some operational contingencies built into their accounts. Maybe they'll switch over to bank loans I suppose. How long this lasts is the real question in terms of the impact this has. Borrowing money when you're a loss making entity who has just had your income streams severely curbed is going to be a tough ask. Their only hope is for a quick sale. Link to comment Share on other sites More sharing options...
Rayvin 5223 Posted March 10, 2022 Share Posted March 10, 2022 Can you buy a frozen asset? Link to comment Share on other sites More sharing options...
Ayatollah Hermione 13867 Posted March 10, 2022 Share Posted March 10, 2022 9 minutes ago, Rayvin said: Shedend's thread on this is now viewable: https://www.theshedend.com/topic/32425-roman-abramovich-chelsea-fc-sanctioned/page/48/#comments They think they're fucked, is the tl;dr version. Another one to add to the pile of clubs we’ll power past. There you are, Chelsea. Take a seat next to Spurs and Man United 1 Link to comment Share on other sites More sharing options...
ewerk 30610 Posted March 10, 2022 Share Posted March 10, 2022 1 minute ago, Rayvin said: Can you buy a frozen asset? This is what remains to be seen. I'd imagine it's not inconceivable. Surely the sale could go through then the proceeds frozen. However, who decides the sale price? Is Abramovich allowed to be involved in that? Has the power been handed over to the charity board? Would it require them to go into administration and the administrator decide? I've no idea. Link to comment Share on other sites More sharing options...
wykikitoon 20143 Posted March 10, 2022 Share Posted March 10, 2022 I hope it's Boris £500m sounds about right. Link to comment Share on other sites More sharing options...
Craig 6682 Posted March 10, 2022 Share Posted March 10, 2022 (edited) 5 minutes ago, ewerk said: This is what remains to be seen. I'd imagine it's not inconceivable. Surely the sale could go through then the proceeds frozen. However, who decides the sale price? Is Abramovich allowed to be involved in that? Has the power been handed over to the charity board? Would it require them to go into administration and the administrator decide? I've no idea. The club will have to be cleansed of anything he's put in there effectively. Basically it's administration and doesn't that attract points deduction? I think they're fucked. Surely they'll have to liquidate assets, and rapidly? Edited March 10, 2022 by Craig Link to comment Share on other sites More sharing options...
Craig 6682 Posted March 10, 2022 Share Posted March 10, 2022 2 minutes ago, wykikitoon said: I hope it's Boris £500m sounds about right. Perhaps they're finally revealing what they're doing with that £350m saving they advertised on the bus? 2 Link to comment Share on other sites More sharing options...
wykikitoon 20143 Posted March 10, 2022 Share Posted March 10, 2022 7 minutes ago, Craig said: The club will have to be cleansed of anything he's put in there effectively. Basically it's administration and doesn't that attract points deduction? I think they're fucked. Surely they'll have to liquidate assets, and rapidly? Stamford Bridge on a wet Tuesday night in League One. FUCK EM 1 Link to comment Share on other sites More sharing options...
Craig 6682 Posted March 10, 2022 Share Posted March 10, 2022 4 minutes ago, wykikitoon said: Stamford Bridge on a wet Tuesday night in League One. FUCK EM Mackems will enjoy the trip no doubt. 2 Link to comment Share on other sites More sharing options...
Sonatine 11377 Posted March 10, 2022 Share Posted March 10, 2022 4 Link to comment Share on other sites More sharing options...
Craig 6682 Posted March 10, 2022 Share Posted March 10, 2022 They're saying on SSN that for Abramovich to sell the club, 2 things have to happen: 1. The government issue him with a new licence so he is able to do so (highly unlikely) 2. He has to prove than not a single penny of the sale will go to him Happy days! 1 Link to comment Share on other sites More sharing options...
Craig 6682 Posted March 10, 2022 Share Posted March 10, 2022 Business expert saying the last snapshot of their accounts suggests they have very limited cash to operate. Talking about weeks rather than months before they'll be unable to pay bills / wages. 1 Link to comment Share on other sites More sharing options...
ewerk 30610 Posted March 10, 2022 Share Posted March 10, 2022 1 minute ago, Craig said: Business expert saying the last snapshot of their accounts suggests they have very limited cash to operate. Talking about weeks rather than months before they'll be unable to pay bills / wages. Remember where you heard it first. Link to comment Share on other sites More sharing options...
ewerk 30610 Posted March 10, 2022 Share Posted March 10, 2022 20 minutes ago, Craig said: I think they're fucked. Surely they'll have to liquidate assets, and rapidly? That's the problem. They're not allowed to sell players. Link to comment Share on other sites More sharing options...
Meenzer 15526 Posted March 10, 2022 Share Posted March 10, 2022 3 hours ago, Dr Gloom said: Abramovich sanctioned. Chelsea FC frozen, sale unable to proceed. Does that mean Chelsea has been nationalised? 4 Link to comment Share on other sites More sharing options...
Craig 6682 Posted March 10, 2022 Share Posted March 10, 2022 6 minutes ago, ewerk said: That's the problem. They're not allowed to sell players. What about commercial assets? The ground, the hotel, Cobham? Imagine Fulham rocking up and buying Cobham off them for a nominal fee. I bet their fans are having a fucking field day BTW. Years having to live in Chelsea's shadow and be ridiculed for being owned by Al Fayed and look how successful their season is too. 1 Link to comment Share on other sites More sharing options...
wykikitoon 20143 Posted March 10, 2022 Share Posted March 10, 2022 What a fucking mess eh Link to comment Share on other sites More sharing options...
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