CheLOLsea

[NathStPaul]

How you take the answer is on you, was merely anwering your question.

Seen a lot of Chelsea fans whinging about it and saying he's done nothing "illegal" so we shouldn't get hit - tough really.

Imagine any other clubs owned by Russians are a bit nervous at the moment.

This isn't what I am suggesting just be clear. Abramovich being sidelined should have happened weeks ago, he is a big Putin guy.

Are any other large European teams owned by a Russian? I know Bournemouth used to be, not sure about now.

Abramovich is not being sanctioned because he is Russian, he is being sanctioned due to his proximity to Putin. So you'd have to draw up a list of Russian owned clubs, then cross reference their owners to how close they are to Putin.

That is a good point that people need to think about, not all Russians are implicit here. It just seems that all the extremely wealthy Russians around the world are in some way linked to Putin. Guess that is how he likes it.

[Greatwesternline]

This isn't what I am suggesting just be clear. Abramovich being sidelined should have happened weeks ago, he is a big Putin guy.

Are any other large European teams owned by a Russian? I know Bournemouth used to be, not sure about now.

Abramovich is not being sanctioned because he is Russian, he is being sanctioned due to his proximity to Putin. So you'd have to draw up a list of Russian owned clubs, then cross reference their owners to how close they are to Putin.

That is a good point that people need to think about, not all Russians are implicit here. It just seems that all the extremely wealthy Russians around the world are in some way linked to Putin. Guess that is how he likes it.

Very few people in Russia get rich, or are allowed to stay rich, without being in Putin's circle because, he runs an authoritarian and increasingly totalitarian regime. And anyone with any wealth is a potential challenge to his authority.

[Mr Angry]

Although I understand why this has happened and the need to do it, it is still a massive shock and there are huge implications for not only all of football in the longer term, but also of wealthy foreign investors investing in Countries outside their own (and not just Russian Billionaires buying up expensive houses in London).

Some may say thats a good thing, and it may well be, but there will be consequences as a result.

[6ft Kerplunk]

Abramovich is not being sanctioned because he is Russian, he is being sanctioned due to his proximity to Putin. So you'd have to draw up a list of Russian owned clubs, then cross reference their owners to how close they are to Putin.

That is a good point that people need to think about, not all Russians are implicit here. It just seems that all the extremely wealthy Russians around the world are in some way linked to Putin. Guess that is how he likes it.

Very few people in Russia get rich, or are allowed to stay rich, without being in Putin's circle because, he runs an authoritarian and increasingly totalitarian regime. And anyone with any wealth is a potential challenge to his authority.

Yeah, nobody who got to be a billionaire in post-communist Russia did so because they were nice guys who just got lucky by being in the right place at the right time.
Here's not a bad place to start for some details NathStPaul:
https://www.theguardian.com/world/2022/mar/03/roman-empire-rise-fall-abramovich-reign-chelsea-fc

[genome]

Lukaku is a government owned asset

[Mr Angry]

Their sponsors are now "reviewing their position".........

Also, as the idea is for RA not to profit from any of his assets, it means that Chelsea are likely to not be invited to play in either the Champions League nor Europa League next season.

The same applies to the Women's team.

[Mr Angry]

Lukaku is a government owned liability

corrected for you.......

[Greatwesternline]

Although I understand why this has happened and the need to do it, it is still a massive shock and there are huge implications for not only all of football in the longer term, but also of wealthy foreign investors investing in Countries outside their own (and not just Russian Billionaires buying up expensive houses in London).

Some may say thats a good thing, and it may well be, but there will be consequences as a result.

Anyone who noticed Russian oligarch's boats being seized last week in the news, and following the news that the government passed new laws on Monday that were going to be implemented by the end of the week to seize Abramovich's assets shouldnt be too shocked.

I'm mostly shocked at how stringent the terms of the seize are. It will put chelsea out of business within one season, because other than Sky money next season, they have no cashflow coming in. And cash is king. Unless the sky money for next season is more than chelsea's wage bill they will run out of cash next season.

[Mr Angry]

Although I understand why this has happened and the need to do it, it is still a massive shock and there are huge implications for not only all of football in the longer term, but also of wealthy foreign investors investing in Countries outside their own (and not just Russian Billionaires buying up expensive houses in London).

Some may say thats a good thing, and it may well be, but there will be consequences as a result.

Anyone who noticed Russian oligarch's boats being seized last week in the news, and following the news that the government passed new laws on Monday that were going to be implemented by the end of the week to seize Abramovich's assets shouldnt be too shocked.

I'm mostly shocked at how stringent the terms of the seize are. It will put chelsea out of business within one season, because other than Sky money next season, they have no cashflow coming in. And cash is king. Unless the sky money for next season is more than chelsea's wage bill they will run out of cash next season.

I assume that the Government will allow the sale to happen, ensuring that RA makes no money on it; thats the only way the club - literally - can survive now.

If this isn't resolved within 3/4 months, there won't be much of a club left.

I don't want to see any club go under, but make no mistke, this is an existential threat to Chelsea FC here and now.

[Greatwesternline]

Although I understand why this has happened and the need to do it, it is still a massive shock and there are huge implications for not only all of football in the longer term, but also of wealthy foreign investors investing in Countries outside their own (and not just Russian Billionaires buying up expensive houses in London).

Some may say thats a good thing, and it may well be, but there will be consequences as a result.

Anyone who noticed Russian oligarch's boats being seized last week in the news, and following the news that the government passed new laws on Monday that were going to be implemented by the end of the week to seize Abramovich's assets shouldnt be too shocked.

I'm mostly shocked at how stringent the terms of the seize are. It will put chelsea out of business within one season, because other than Sky money next season, they have no cashflow coming in. And cash is king. Unless the sky money for next season is more than chelsea's wage bill they will run out of cash next season.

I assume that the Government will allow the sale to happen, ensuring that RA makes no money on it; thats the only way the club - literally - can survive now.

If this isn't resolved within 3/4 months, there won't be much of a club left.

I don't want to see any club go under, but make no mistke, this is an existential threat to Chelsea FC here and now.

The tricky thing is, who can sell the club? Roman can't. And i dont think the Government will want to, they have frozen the asset, not taken ownership of it.

Although i'm unclear on who owns it now. If the government own it they could sell it to someone else, if they dont own it, and Roman does, then it cant be sold and you would be correct in saying Chelsea's existence to carry on as a going concerns seems in doubt. Hopefully Reading don't get relegated as a result of Chelsea's demise. Maybe PL only relegate 2 teams, and therefore Championship only relegate 2 teams and so on....

[Stranded]

I guess the ethical debate is that Chelsea would not be the club they are without the untold wealth bestowed on them by RA. Even if he doesn't benefit from a sale is it right that a club propped up and grown by his money then continues unimpeded.

Legally the answer is likely yes, hence it being more an ethical dilemma.

[genome]

So for the foreseeable Chelsea are going to be self-sustaining on 25k season tickets alone?

They'll run out of cash pretty quickly

[Greatwesternline]

So for the foreseeable Chelsea are going to be self-sustaining on 25k season tickets alone?

They'll run out of cash pretty quickly

They'll still get their TV money, which must keep them afloat to a great extent. What they lose is Roman's cash injections and write offs of their annual losses. If they aren't cashflow positive from TV money and gate receipts alone they are stuffed very quickly because their bank isn't going to offer them any credit knowing they aren't a going concern.

[genome]

So for the foreseeable Chelsea are going to be self-sustaining on 25k season tickets alone?

They'll run out of cash pretty quickly

They'll still get their TV money, which must keep them afloat to a great extent. What they lose is Roman's cash injections and write offs of their annual losses. If they aren't cashflow positive from TV money and gate receipts alone they are stuffed very quickly because their bank isn't going to offer them any credit knowing they aren't a going concern.

Seems odd that the government would allow them to continue to receive income from TV money, which is a significant sum, but not shirt sales and other merchandise

[Stranded]

So for the foreseeable Chelsea are going to be self-sustaining on 25k season tickets alone?

They'll run out of cash pretty quickly

They'll still get their TV money, which must keep them afloat to a great extent. What they lose is Roman's cash injections and write offs of their annual losses. If they aren't cashflow positive from TV money and gate receipts alone they are stuffed very quickly because their bank isn't going to offer them any credit knowing they aren't a going concern.

Seems odd that the government would allow them to continue to receive income from TV money, which is a significant sum, but not shirt sales and other merchandise

I'm sure it has been reported that they can get it but it will be frozen immediately so can't be spent.

Not sure how they are meant to pay wages etc unless they can use any cash reserves at the club?

[Greatwesternline]

So for the foreseeable Chelsea are going to be self-sustaining on 25k season tickets alone?

They'll run out of cash pretty quickly

They'll still get their TV money, which must keep them afloat to a great extent. What they lose is Roman's cash injections and write offs of their annual losses. If they aren't cashflow positive from TV money and gate receipts alone they are stuffed very quickly because their bank isn't going to offer them any credit knowing they aren't a going concern.

Seems odd that the government would allow them to continue to receive income from TV money, which is a significant sum, but not shirt sales and other merchandise

Very weird.

I suspect this ends with the government sanctioning Abramovich selling the club for £1 to someone very soon.

[genome]

Presumably this will rumble on for a while, what happens next season? They won't be able to sell any season tickets

[NathStPaul]

Presumably this will rumble on for a while, what happens next season? They won't be able to sell any season tickets

Don't see that happening personally. Think this is a move by the government to get Abramovich to sell the club ASAP and fcuk off, will likely work imo.

[genome]

Presumably this will rumble on for a while, what happens next season? They won't be able to sell any season tickets

Don't see that happening personally. Think this is a move by the government to get Abramovich to sell the club ASAP and fcuk off, will likely work imo.

But the measures introduced today prohibit the sale of the club

[NathStPaul]

Presumably this will rumble on for a while, what happens next season? They won't be able to sell any season tickets

Don't see that happening personally. Think this is a move by the government to get Abramovich to sell the club ASAP and fcuk off, will likely work imo.

But the measures introduced today prohibit the sale of the club

Directly through Abramovich, yes. Seen it suggested the government will oversee the sale and withold the money should it go through.