Scottish Mag 3 Posted January 13, 2009 Share Posted January 13, 2009 Bayern Munich general manager Uli Hoeness claims he has heard rumours that Chelsea are up for sale as the financial crisis threatens to affect English football. Hoeness believes the level of spending from the top Premier League clubs was not sustainable and it will allow Bundesliga sides to take advantage in Europe and in terms of dealing with any fall-out. The 57-year-old says the weak pound is going to have a massive impact on the transfer market in the coming months. "I hear rumours that this club [Chelsea] would be up for sale," he told the Frankfurter Allgemeine Sonntagszeitung. "Allegedly, it was for one euro. But if you will have to take on 800 or 900 million euros in debt, it will be difficult to find someone. "I hear the players in England are already mourning because of the weak pound, which has lost 30 percent of its value. Most now have quite a loss. "Take for example, in England, West Ham United with the Icelandic investor who has lost his money. As the lights go out, this is as safe as the Amen in the church [certain that the conclusion is bleak]. And, in Liverpool, a new stadium will not be built. "This is really only the beginning. The banks will finance this whole insanity no more. "We do not need an investor or the bank to ask if we want to strengthen. We have perfect conditions and full coffers. "There are signs that the megalomania in England, Italy or Spain can no longer hold out. The others, who have spent hundreds of millions each year, will be quite sustained. "The distance to them will be smaller. Here, I see a great opportunity for German football and especially for the top clubs." Chelsea have insisted that owner Roman Abramovich remains totally committed to the project at Stamford Bridge. Link to comment Share on other sites More sharing options...
ewerk 31592 Posted January 13, 2009 Share Posted January 13, 2009 Even though Roman has lost billions I don't think he'll be in any hurry to sell up, the only reason I could see for it is if he's become tired of his toy. Link to comment Share on other sites More sharing options...
Lazarus 0 Posted January 13, 2009 Share Posted January 13, 2009 Its been rumoured for a while that abramovich has been wanting to sell up. Link to comment Share on other sites More sharing options...
Park Life 71 Posted January 13, 2009 Share Posted January 13, 2009 There are other things going on with Roman which leads me to believe this might have legs. Link to comment Share on other sites More sharing options...
Kid Dynamite 7312 Posted January 13, 2009 Share Posted January 13, 2009 How can the club be in debt? Link to comment Share on other sites More sharing options...
Tooj 17 Posted January 13, 2009 Share Posted January 13, 2009 How can the club be in debt? Because all of the money that Roman has ploughed into the club he has just loaned them it. Link to comment Share on other sites More sharing options...
Park Life 71 Posted January 13, 2009 Share Posted January 13, 2009 How can the club be in debt? They way it is structured they owe Roman the money. If he called it all in, they couldn't pay it. Link to comment Share on other sites More sharing options...
Park Life 71 Posted January 13, 2009 Share Posted January 13, 2009 Actually the Liverpool financing has only been defferred to July, so there could be fun and games there as well. The winners out of this scenario will be Man City. Link to comment Share on other sites More sharing options...
Happy Face 29 Posted January 13, 2009 Share Posted January 13, 2009 Spent Force. Ashley's plan is coming together. Link to comment Share on other sites More sharing options...
Park Life 71 Posted January 13, 2009 Share Posted January 13, 2009 Spent Force. Ashley's plan is coming together. What spent nowt? Link to comment Share on other sites More sharing options...
Toonpack 10396 Posted January 13, 2009 Share Posted January 13, 2009 Interesting comment about the £ to the Euro, I'd not even considered it before but a lot of the foreign players likely bank "at home" and as such the 30% drop comment may not be far from the truth. As well as them "losing" money it also means a lesser contract "back home" is not so unpalateable Link to comment Share on other sites More sharing options...
Toonpack 10396 Posted January 13, 2009 Share Posted January 13, 2009 (edited) Actually the Liverpool financing has only been defferred to July, so there could be fun and games there as well. The winners out of this scenario will be Man City. Unfortunately I believe their funding is via RBS and I can't see a UK bank pulling the plug on a "popular (yet despicable) institution" . Shame they're not funded by some nameless foreign hedge fund that just wouldn't care about any possible public backlash. Doesn't stop RBS hammering them on interest rate though because shopping around for alternative credit isn't going to be easy. Edited January 13, 2009 by Toonpack Link to comment Share on other sites More sharing options...
tinofbeans 91 Posted January 13, 2009 Share Posted January 13, 2009 Actually the Liverpool financing has only been defferred to July, so there could be fun and games there as well. The winners out of this scenario will be Man City. Unfortunately I believe their funding is via RBS and I can't see a UK bank pulling the plug on a "popular (yet despicable) institution" . Shame they're not funded by some nameless foreign hedge fund that just wouldn't care about any possible public backlash. Doesn't stop RBS hammering them on interest rate though because shopping around for alternative credit isn't going to be Possible my thoughts are any club that gets themselves into a set debt should have league points per £m deducted. the league table would be very interesting. Link to comment Share on other sites More sharing options...
peasepud 59 Posted January 13, 2009 Share Posted January 13, 2009 Spent Force. Ashley's plan is coming together. The words Ashley and spent in the same quote? Link to comment Share on other sites More sharing options...
Dr Gloom 22524 Posted January 13, 2009 Share Posted January 13, 2009 there's no doubt that a lot of clubs will start belt tightening because of the global financial crisis and the pound tanking. but....the premiership's monster tv deal, that still has a few years to run will mean that english clubs will still outbid most others for the top players and few will go under. west ham are a different story because their icelandic owner's bank (where iirc he owened a majority share) went under. Link to comment Share on other sites More sharing options...
Gemmill 47084 Posted January 13, 2009 Share Posted January 13, 2009 Uli Hoeness must get the popbitch email too. Link to comment Share on other sites More sharing options...
Tom 14021 Posted January 13, 2009 Share Posted January 13, 2009 Why would anyone in their right mind take that amount of debt on anyway? Link to comment Share on other sites More sharing options...
Park Life 71 Posted January 14, 2009 Share Posted January 14, 2009 Why would anyone in their right mind take that amount of debt on anyway? I think it's an accounting trick though, I don't think Roman would ask for it back. Link to comment Share on other sites More sharing options...
Kid Dynamite 7312 Posted January 14, 2009 Share Posted January 14, 2009 Well he could try but seeing as he owns the club who exactly is he going to ask to get the money back Link to comment Share on other sites More sharing options...
Park Life 71 Posted January 14, 2009 Share Posted January 14, 2009 Well he could try but seeing as he owns the club who exactly is he going to ask to get the money back Link to comment Share on other sites More sharing options...
Tom 14021 Posted January 14, 2009 Share Posted January 14, 2009 He could sell the debt with the club and then ask for it back... Link to comment Share on other sites More sharing options...
Park Life 71 Posted January 15, 2009 Share Posted January 15, 2009 Does Roman own Chelsea village as well? Link to comment Share on other sites More sharing options...
sammynb 3640 Posted January 15, 2009 Share Posted January 15, 2009 (edited) Does Roman own Chelsea village as well? No just edit: Ask Laz, or jimbo they'll explain. Edited January 15, 2009 by sammynb Link to comment Share on other sites More sharing options...
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