| Dont worry about our debts - just look at Chelsea's 04:38 - Apr 19 with 2619 views | MelakaRanger |
Our debts are just chicken feed (no not the Venkys type)
From The Guardian article today about Club finances:-
Abramovich lent a further £79m to the Chelsea operation, increasing the total to a staggering £896m, poured into Chelsea since he bought the club in 2003
That's best part of 1 billion pounds he has sunk into the Scum in just 10 years. [Post edited 1 Jan 1970 1:00]
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| Dont worry about our debts - just look at Chelsea's on 06:58 - Apr 19 with 2580 views | CanadaRanger |
Another few years and it might start to look like real money...
:) |  | | |
| Dont worry about our debts - just look at Chelsea's (n/t) on 07:32 - Apr 19 with 2555 views | headhoops |
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| Dont worry about our debts - just look at Chelsea's on 07:34 - Apr 19 with 2549 views | headhoops |
Don't panic even if the Russian cash cow left they would survive
30,000 glory seekers to fall back on
And they are, er, sorry were, the champions of Europe.
If things got really bad they could send Terry's mum out with her swag bag...... | |
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| Dont worry about our debts - just look at Chelsea's on 09:30 - Apr 19 with 2482 views | TGRRRSSS |
A guy I know (or used to know really) is a Chelsea fan and tweeted me earlier this week slagging Rangers saying admin here we come. I've pointed out Chelsea make loss after loss after loss, but apparently they made a profit last year so therefore this wiped out all debt accrued in the years previous - I said one year profit was still a loss, but no RA had washed his hands of that money.
I don't get it really assume it really is a toy for him he spends on
If anything happens though who would take that debt, or that of City, I think some of this is why FFP has come about.
Or maybe the players will have to get told no you can't get 200 squillion while the man who does the lights doesn't get his 5 grand |  | | |
| Dont worry about our debts - just look at Chelsea's on 09:40 - Apr 19 with 2477 views | QPR1882 |
| Dont worry about our debts - just look at Chelsea's on 09:30 - Apr 19 by TGRRRSSS |
A guy I know (or used to know really) is a Chelsea fan and tweeted me earlier this week slagging Rangers saying admin here we come. I've pointed out Chelsea make loss after loss after loss, but apparently they made a profit last year so therefore this wiped out all debt accrued in the years previous - I said one year profit was still a loss, but no RA had washed his hands of that money.
I don't get it really assume it really is a toy for him he spends on
If anything happens though who would take that debt, or that of City, I think some of this is why FFP has come about.
Or maybe the players will have to get told no you can't get 200 squillion while the man who does the lights doesn't get his 5 grand |
The scum players would still be under contract therefore would still expect their pound of flesh. So the courts would be busy for a few months until they went out of business and later came back into the Blue Square league as FC Scummers.
Can't imagine where they would get a stadium big enough for there 30k loyal fans at that level ? |  | | |
| Dont worry about our debts - just look at Chelsea's on 09:48 - Apr 19 with 2464 views | Speediesdouble |
| Dont worry about our debts - just look at Chelsea's on 09:30 - Apr 19 by TGRRRSSS |
A guy I know (or used to know really) is a Chelsea fan and tweeted me earlier this week slagging Rangers saying admin here we come. I've pointed out Chelsea make loss after loss after loss, but apparently they made a profit last year so therefore this wiped out all debt accrued in the years previous - I said one year profit was still a loss, but no RA had washed his hands of that money.
I don't get it really assume it really is a toy for him he spends on
If anything happens though who would take that debt, or that of City, I think some of this is why FFP has come about.
Or maybe the players will have to get told no you can't get 200 squillion while the man who does the lights doesn't get his 5 grand |
There is no debt ! all outstanding debt was capatilised into equity hence Chelsea are currently debt free..suggest concentrating on QPR's problems, Chelsea have theirs in hand. |  | | |
| Dont worry about our debts - just look at Chelsea's on 09:59 - Apr 19 with 2447 views | TGRRRSSS |
| Dont worry about our debts - just look at Chelsea's on 09:48 - Apr 19 by Speediesdouble |
There is no debt ! all outstanding debt was capatilised into equity hence Chelsea are currently debt free..suggest concentrating on QPR's problems, Chelsea have theirs in hand. |
You wish mate you wish. | | | |
| Dont worry about our debts - just look at Chelsea's on 10:03 - Apr 19 with 2439 views | Speediesdouble |
| Dont worry about our debts - just look at Chelsea's on 09:59 - Apr 19 by TGRRRSSS |
You wish mate you wish. |
No wishing that is the case - official club statement from November last year "Intergroup debt of £166.6m was capitalised into equity during the course of the year strengthening the balance sheet and making Chelsea FC plc debt free" | | | |
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| Dont worry about our debts - just look at Chelsea's on 10:11 - Apr 19 with 2412 views | daveB |
Chelsea are not different to most other clubs including us, the size of what they owe may be different but if the owner pulls out and they will be in trouble especially if they don't make the champions league, to be honest though i don't see the Russian pulling out any time soon if ever and they are a big club now so I reckon some other rich lunatic would bankroll them if it all fell apart |  | | |
| Dont worry about our debts - just look at Chelsea's on 10:13 - Apr 19 with 2408 views | QPR1882 |
| Dont worry about our debts - just look at Chelsea's on 09:48 - Apr 19 by Speediesdouble |
There is no debt ! all outstanding debt was capatilised into equity hence Chelsea are currently debt free..suggest concentrating on QPR's problems, Chelsea have theirs in hand. |
The BBC and a lot of other commentators and news sources said, “Chelsea Football Club has said it is now “virtually
Now it turns out not to be true. Not at all. Not one jot. Of course I can’t say what was in Mr Abramovich’s mind when the story came out. Maybe he never authorised it, and it was just an over-excited pressman at Chelsea who released it. But whatever the cause, it was just a load of old cobblers.
But had the ruse not been rumbled, it might just have looked to Uefa (who as we know don’t always see things clearly) that Chelsea FC were indeed debt free and so eligible for the Champs league the year after next.
In fact the disappearance and finding again of Chelsea’s debt is one of the most extraordinary stories of either a deliberate attempt to slip one over Uefa, or a simple error that big boys in the world of finance should never make.
Here’s the whole story.
Chelsea were given an interest-free loan from a company controlled by Mr Abramovich, in order for them to win the league and stuff.
Then Bruce Buck the “chairman” of Chelsea said: “The club’s debt load has been reduced almost to nil in order to provide more long-term stability for the club. It will also enable the club to comply with any regulations on debt levels which are being discussed by the football community.”
That is a really interesting quote — note that he is specifically thinking about the new regs which require clubs to break even on football related business after 2012.
Chelsea wrote that they were engaged in “disciplined management” of capital expenditure, a reduction in capital expenditure etc. So Mr Abramovich wrote off £726m in loans.
Well, no.
It now turns out that Mr Abramovich loaned the money not to Chelsea FC at all, but to Chelsea Limited. Who loaned it on to Chelsea FC plc.
So it was the loans from Chelsea FC plc that were converted to shares. But that awfully nice Mr Abramovich’s loan to the holding company which owns Chelsea FC plc, was not converted to anything.
Not only is the loan still there — it is getting bigger. Because Mr A just loaned another £25m.
And now here is a funny old thing. The name of Chelsea Limited (which you might think is a good old name, since it reflects the name of the club-type thing that plays football) has now been changed to Fordstam Limited. Fordstam owes £726m, owed to Mr Abramovich.
Now, in case you are fluent in Gobbledegook
“Recapitalisation of loans happened at the level of Chelsea FC plc, not the holding company, therefore making the football club debt free.”
Well not quite,Whichever way you stand on your head, Fordstam owns what we all know as Chelsea FC.
Is this still the case Speedie or have things changed ? | | | |
| Dont worry about our debts - just look at Chelsea's on 10:19 - Apr 19 with 2397 views | 18StoneOfHoop |
| Dont worry about our debts - just look at Chelsea's on 09:48 - Apr 19 by Speediesdouble |
There is no debt ! all outstanding debt was capatilised into equity hence Chelsea are currently debt free..suggest concentrating on QPR's problems, Chelsea have theirs in hand. |
Konk always welcome,you are not.
Why don't you get back to a CareFreeCoont forum where you can discuss things with like-minded chums such as Gary Racist KnuckleDragger and Tristram Montcrief-Ponsonby-Bandwaggoner-Jones and start concentrating on pressing Scum problems such as the price of celery and the dreadful state and smell of the overflowing bogs in the Harding Stand that Pimlico Plumbers have patently failed to sort out time after time?
Toodle-oo and don't slam the door.  |  |
| 'I'm 18 with a bullet.Got my finger on the trigger,I'm gonna pull it.."
Love,Peace and Fook Chelski!
More like 20StoneOfHoop now.
Let's face it I'm not getting any thinner.
Pass the cake and pies please. |
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| Dont worry about our debts - just look at Chelsea's on 10:22 - Apr 19 with 2386 views | Speediesdouble |
| Dont worry about our debts - just look at Chelsea's on 10:13 - Apr 19 by QPR1882 |
The BBC and a lot of other commentators and news sources said, “Chelsea Football Club has said it is now “virtually
Now it turns out not to be true. Not at all. Not one jot. Of course I can’t say what was in Mr Abramovich’s mind when the story came out. Maybe he never authorised it, and it was just an over-excited pressman at Chelsea who released it. But whatever the cause, it was just a load of old cobblers.
But had the ruse not been rumbled, it might just have looked to Uefa (who as we know don’t always see things clearly) that Chelsea FC were indeed debt free and so eligible for the Champs league the year after next.
In fact the disappearance and finding again of Chelsea’s debt is one of the most extraordinary stories of either a deliberate attempt to slip one over Uefa, or a simple error that big boys in the world of finance should never make.
Here’s the whole story.
Chelsea were given an interest-free loan from a company controlled by Mr Abramovich, in order for them to win the league and stuff.
Then Bruce Buck the “chairman” of Chelsea said: “The club’s debt load has been reduced almost to nil in order to provide more long-term stability for the club. It will also enable the club to comply with any regulations on debt levels which are being discussed by the football community.”
That is a really interesting quote — note that he is specifically thinking about the new regs which require clubs to break even on football related business after 2012.
Chelsea wrote that they were engaged in “disciplined management” of capital expenditure, a reduction in capital expenditure etc. So Mr Abramovich wrote off £726m in loans.
Well, no.
It now turns out that Mr Abramovich loaned the money not to Chelsea FC at all, but to Chelsea Limited. Who loaned it on to Chelsea FC plc.
So it was the loans from Chelsea FC plc that were converted to shares. But that awfully nice Mr Abramovich’s loan to the holding company which owns Chelsea FC plc, was not converted to anything.
Not only is the loan still there — it is getting bigger. Because Mr A just loaned another £25m.
And now here is a funny old thing. The name of Chelsea Limited (which you might think is a good old name, since it reflects the name of the club-type thing that plays football) has now been changed to Fordstam Limited. Fordstam owes £726m, owed to Mr Abramovich.
Now, in case you are fluent in Gobbledegook
“Recapitalisation of loans happened at the level of Chelsea FC plc, not the holding company, therefore making the football club debt free.”
Well not quite,Whichever way you stand on your head, Fordstam owns what we all know as Chelsea FC.
Is this still the case Speedie or have things changed ? |
That is exactly the case to my knowledge. Chelsea fc is debt free the holding company owes Roman...the bottom line is he would look to recover that money if he sold, which make sense. As that is very unlikely at this time in effect Chelsea Fc is debt free.
It's all smoke and mirrors to be honest but that's what the bottom line shows. | | | |
| Dont worry about our debts - just look at Chelsea's on 10:23 - Apr 19 with 2375 views | RBlock |
| Dont worry about our debts - just look at Chelsea's on 09:30 - Apr 19 by TGRRRSSS |
A guy I know (or used to know really) is a Chelsea fan and tweeted me earlier this week slagging Rangers saying admin here we come. I've pointed out Chelsea make loss after loss after loss, but apparently they made a profit last year so therefore this wiped out all debt accrued in the years previous - I said one year profit was still a loss, but no RA had washed his hands of that money.
I don't get it really assume it really is a toy for him he spends on
If anything happens though who would take that debt, or that of City, I think some of this is why FFP has come about.
Or maybe the players will have to get told no you can't get 200 squillion while the man who does the lights doesn't get his 5 grand |
Citeh are a bit different though. They seem to be setting up one of the best Acadamy Structures and Training Grounds in the league, although they are spending obscene amounts at the moment i think this will subside with a view to break-even, basically with a plan, as opposed to constant random ill-advised spending on transfer fees. |  | | |
| Dont worry about our debts - just look at Chelsea's on 10:24 - Apr 19 with 2375 views | BrianMcCarthy |
| Dont worry about our debts - just look at Chelsea's on 09:48 - Apr 19 by Speediesdouble |
There is no debt ! all outstanding debt was capatilised into equity hence Chelsea are currently debt free..suggest concentrating on QPR's problems, Chelsea have theirs in hand. |
Jesus Christ, kid, have you any life at all?
You just lurk around here tragically like the new lad at work, hoping beyond hope someone will mention your little club and that we might talk to you then.
How are you anyway? Everything ok?
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| Dont worry about our debts - just look at Chelsea's on 10:29 - Apr 19 with 2365 views | Speediesdouble |
Just repeating the same thing. | | | |
| Dont worry about our debts - just look at Chelsea's on 10:32 - Apr 19 with 2358 views | Speediesdouble |
| Dont worry about our debts - just look at Chelsea's on 10:24 - Apr 19 by BrianMcCarthy |
Jesus Christ, kid, have you any life at all?
You just lurk around here tragically like the new lad at work, hoping beyond hope someone will mention your little club and that we might talk to you then.
How are you anyway? Everything ok?
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lol, as you're well aware not been on here for a long time but whenever I take a glance it's clear we're never far from your thoughts. | | | |
| Dont worry about our debts - just look at Chelsea's on 10:38 - Apr 19 with 2343 views | rsonist |
Ultimately he's right, Chelsea's debt on paper is meaningless. Ours may or may not also be, depending on how far the owners care to go. |  | | |
| Dont worry about our debts - just look at Chelsea's on 10:49 - Apr 19 with 2332 views | QPR1882 |
Is he ?
fact is there is a debt owed to RA of £744m, and agreed whilst RA is still there the debt will never be called in.
Thats a very big BUT though............ | | | |
| Dont worry about our debts - just look at Chelsea's on 11:27 - Apr 19 with 2303 views | Juzzie |
Genuine question here.... just what does it mean about debts being transferered into equity? Fulham I think have done the same and are classed as debt-free but it seems to me it just vanishing money in the same way that the Treasurey can just make money out of thin air. Neither seems right to me..... |  | | |
| Dont worry about our debts - just look at Chelsea's on 13:03 - Apr 19 with 2238 views | WokingR |
| Dont worry about our debts - just look at Chelsea's on 10:49 - Apr 19 by QPR1882 |
Is he ?
fact is there is a debt owed to RA of £744m, and agreed whilst RA is still there the debt will never be called in.
Thats a very big BUT though............ |
NO! This is a very big but..
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| Dont worry about our debts - just look at Chelsea's on 13:08 - Apr 19 with 2227 views | rsonist |
| Dont worry about our debts - just look at Chelsea's on 10:49 - Apr 19 by QPR1882 |
Is he ?
fact is there is a debt owed to RA of £744m, and agreed whilst RA is still there the debt will never be called in.
Thats a very big BUT though............ |
Why is it a big but? He's not going to walk away, he's not going to sell, he's not going to need the money back anytime soon, and even if he should happen to die Chelsea will be sorted just the same. | | | |
| Dont worry about our debts - just look at Chelsea's on 13:12 - Apr 19 with 2218 views | toboboly |
| Dont worry about our debts - just look at Chelsea's on 13:03 - Apr 19 by WokingR |
NO! This is a very big but..
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Good god man, this has to stop, I've just had lunch!  |  |
| Sexy Asian dwarves wanted. |
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| Dont worry about our debts - just look at Chelsea's on 23:19 - Apr 19 with 2115 views | CanadaRanger |
| Dont worry about our debts - just look at Chelsea's on 13:12 - Apr 19 by toboboly |
Good god man, this has to stop, I've just had lunch! |
Not sure she'd fit in the seats at LR. Al four of them. | | | |
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