The debt write-off will be a credit (income) to the profit and loss account of Chelsea FC and there is nothing from a company law / financial accounting perspective that can change that ... so 'the rivals' are blowing smoke our of their dung funnels ... furthermore, under 'connected party' tax rules it is likely that the credit (income) is non taxable ... as the waiver by Abramovic would not be tax deductible ... so Chelsea will actually be quids in ... sorry if that pisses on a few parades, but them's the rules


