Rival watch

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According to the Times:
⁠The sale of Chelsea has hit a serious obstacle over fears that Russian-born owner Roman Abramovich is attempting to renege on his promise to write off a £1.6 billion debt.
⁠It is understood that Chelsea told the government — as well as the rival bidding groups — last week that they want to restructure the way the club is being sold, which would include paying off the debt from Chelsea’s parent company Fordstam Ltd to a Jersey-based company Camberley International Investments, which appears to be linked to Abramovich.

Shame.
 
PleaseNotPoll said:
According to the Times:
⁠The sale of Chelsea has hit a serious obstacle over fears that Russian-born owner Roman Abramovich is attempting to renege on his promise to write off a £1.6 billion debt.
⁠It is understood that Chelsea told the government — as well as the rival bidding groups — last week that they want to restructure the way the club is being sold, which would include paying off the debt from Chelsea’s parent company Fordstam Ltd to a Jersey-based company Camberley International Investments, which appears to be linked to Abramovich.

Shame.
Click to expand...

Wouldn't that break the sanctions?
 
PleaseNotPoll said:
Yep. Needs to get sorted soon too or Chelsea's license becomes an issue:

The Tories will find some way around it, unfortunately. Should just let them go under.
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State how much Roman would receive from the sale.
Do the sale.
UK govt holds that money in escrow for the foreseeable,
 
️ Roy Keane: "Put Ronaldo in that Liverpool side and he'll get you more goals than Salah, put Salah in this Man United side does he get you 18 PL goals? I don't think so."

"This is where Ronaldo's ability to constantly perform in struggling teams is out of this World."
 
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The RDBD said:
State how much Roman would receive from the sale.
Do the sale.
UK govt holds that money in escrow for the foreseeable,
Click to expand...

Just wanted to add that I was listening to TalkShite yesterday and the Danny Kelly programme (one of the better ones) where he was discussing the takeover with two senior sports journalists. Now I generally have problems with sports "journalists", but what they said was telling. What they said was that they didn't understand it. Which is quite an admission if you think of it. When what we needed was proper transparency, finally, with Chel(-ski) we have nothing of the sort. Basically if anyone should know what was going on they should, but they clearly didn't. And on this occasion I am not going to take the piss about them. It seems that nobody knows. We don't even know how the 'preferred bidder' was decided, particularly because there was apparently a last minute much larger bid that was rejected. And I'm sorry to say that I suspect we will never really know the full details, which of course can lead to continuing dodgyness.
 
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PowerSpurs said:
Actually the problem might be that the loan can't be written off as that would effectively mean that Chelsea were receiving a gift from Abramovich.
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I assume the loan is classed as a "creditors payable within N years" .
Similarly I assume the loan could be transferred as is to the new owners.
 
The RDBD said:
I assume the loan is classed as a "creditors payable within N years" .
Similarly I assume the loan could be transferred as is to the new owners.
Click to expand...

I was assuming that the loan is effectively written off by being part of the current purchase price. Dunno for sure but who does? On the other hand if it is to be repaid, then repaid to whom? If it's still due to A'ch then it's an asset of his and surely isn't due to him since he got sanctioned. This should all be clear by now, so the sale is above board.
 
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