Malky
Established Member
That's amazing if Abramovich ****s up the sale of the club because he's demanding his £1.6bn back.
Incredible
Incredible
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Chelsea FC: Carabottlejobs
- Thread starter Bigbludfire
- Start date
- Replies 8,351
- Views 776,311
Rasmi
Negative Nancy
Country: England
He will get it though. I really don’t think the government want to be responsible for folding Chelsea and cause thousands of people lose their jobs. He is calling their bluff. He has nothing to lose now. Knowing the government they will try to work a deal behind closed doors so he gets his money, but they keep the perception of him not getting itThat's amazing if Abramovich ****s up the sale of the club because he's demanding his £1.6bn back.
Incredible
Chelsea basically f**ked and might be end up in administration (love to see it) if the new owners can't pay the Abra debt and Abra keep insist about it. Because they won't be allowed to compete in PL from next season when PL clubs usually meet in June.
Abra showing his true face here like every billionaire there no love or loyalty it's all about money.
Abra showing his true face here like every billionaire there no love or loyalty it's all about money.
Rasmi
Negative Nancy
Country: England
His true face was he was the best owner in PL history. Telling a man to write off 1.6 billion is beyond silly. No man would ever, specially from a hostile takeover
Here thread explain it better. Chelsea only got until 30 of May.
Understand that but really should've just said his loan should be repaid and not 2 months later after putting Chelsea on sale. Maybe it's tactics and I'm sure he'll get it because there no much time left.
ArsenesCoatMaker
Established Member
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.
There are big concerns about allowing that to happen when Abramovich has been sanctioned and has had his assets frozen. Ministers have been under the impression that all proceeds from the sale would be given over to the government to be used for good causes, including helping the victims of the war in Ukraine.
Last week the consortium led by Todd Boehly, the co-owner of the Los Angeles Dodgers baseball team, was informed by Chelsea’s US bankers that it had been given a five-day period of exclusivity as preferred bidders.
But sources from the rival bid groups said it was only “days” before that decision was taken that they were informed that the loan, which is in trust in Jersey, needs to be repaid on the sale of the club.
When Abramovich, 55, put Chelsea up for sale, he said: “I will not be asking for any loans to be repaid”. It is believed that he is claiming the sanctions prevent him from being able to write off the debt, but that would be challenged by the government.
The bidding groups also now believe the late change to the structure of the sale could present a serious problem, not least for the Treasury officials whose task it is to examine the deal. That could lead to Jersey’s financial authorities being asked to look into the details of the loan.
“What kind of due diligence and comfort does the government have with the loan?” said one source from a rival bid group. “We need to follow the money here and see whether Clearlake’s [the private equity firm financing the Boehly bid] repayment of that debt meets with government approval. We sought the expertise of major figures in the banking world and they are struggling to see how more than £1.5 billion doesn’t end up with either Abramovich or his beneficiaries.”
The ultimate ownership of Camberley International Investments is unclear, but it appears to be linked to Abramovich or family members.
Fordstam’s latest accounts state: “Funding is provided by the ultimate controlling party, Mr R Abramovich.” The accounts also state in the “related party transactions” section that “Camberley International Investments Ltd provides funding to Fordstam Ltd and its subsidiaries as required to enable the Group to continue as a going concern”.
The accounts show that as of June 30, the balance on all related party loans was £1.514 billion though it is understood the debt now stands at close to £1.6 billion.
Jersey’s register of companies shows Camberley International Investments was first registered in August 2020 but it is difficult to ascertain the ultimate controlling parties. The company document was signed by Andrew Duncan, a director of Zedra Trust Company (Jersey) Ltd, a corporate services provider which works with “high net-worth individuals”.
The Times contacted Duncan and asked if Camberley International Investments was connected to Abramovich. He responded by saying: “We are not commenting on anything.” A spokeswoman for Abramovich did not respond when contacted for comment. Chelsea have also been approached for comment.
When Abramovich put the club up for sale in March before he had been sanctioned by the UK government, he said: “I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of the war in Ukraine. This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.”
Because of the uncertainty, rival bidders remain on alert for a sudden change in circumstances.
Sir Jim Ratcliffe’s attempts to hijack the deal with a late £4.25 billion bid were dismissed last week by both Chelsea and the Raine Group, the New York merchant bank which was appointed by Abramovich to handle the sale.
But Ratcliffe is meeting Chelsea fan groups this week and is making the point that the Boehly bid, which is being largely funded by the California-based investment company, Clearlake Capital, would lead to 66 per cent of the club falling into the hands of private equity.
Sources have told The Times that it was precisely for that reason that the consortium led by former British Airways chairman, Sir Martin Broughton, believed it had secured the approval of Raine. However, there appears to have been a late shift from within the Chelsea hierarchy to go with the Boehly bid.
Insiders close to the process claim another issue arose in the final days with regard to the Share Purchase Agreement, with the rival groups still seeking proof that Abramovich continues to own all the shares in the football club. If that remains unclear, it would seem that the Boehly group is pressing ahead without receiving those assurances.
Crucially for Chelsea, there is growing concern that those selling the club are running out of time. Last week Nadine Dorries, the culture secretary, warned that Chelsea were on “borrowed time” with the government’s licence which allows the club to operate under Abramovich’s ownership due to expire on May 31.
Government insiders are increasingly concerned about whether the deal will be done in time to safeguard Chelsea’s future and ability to compete next season.
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.
There are big concerns about allowing that to happen when Abramovich has been sanctioned and has had his assets frozen. Ministers have been under the impression that all proceeds from the sale would be given over to the government to be used for good causes, including helping the victims of the war in Ukraine.
Last week the consortium led by Todd Boehly, the co-owner of the Los Angeles Dodgers baseball team, was informed by Chelsea’s US bankers that it had been given a five-day period of exclusivity as preferred bidders.
But sources from the rival bid groups said it was only “days” before that decision was taken that they were informed that the loan, which is in trust in Jersey, needs to be repaid on the sale of the club.
When Abramovich, 55, put Chelsea up for sale, he said: “I will not be asking for any loans to be repaid”. It is believed that he is claiming the sanctions prevent him from being able to write off the debt, but that would be challenged by the government.
The bidding groups also now believe the late change to the structure of the sale could present a serious problem, not least for the Treasury officials whose task it is to examine the deal. That could lead to Jersey’s financial authorities being asked to look into the details of the loan.
“What kind of due diligence and comfort does the government have with the loan?” said one source from a rival bid group. “We need to follow the money here and see whether Clearlake’s [the private equity firm financing the Boehly bid] repayment of that debt meets with government approval. We sought the expertise of major figures in the banking world and they are struggling to see how more than £1.5 billion doesn’t end up with either Abramovich or his beneficiaries.”
The ultimate ownership of Camberley International Investments is unclear, but it appears to be linked to Abramovich or family members.
Fordstam’s latest accounts state: “Funding is provided by the ultimate controlling party, Mr R Abramovich.” The accounts also state in the “related party transactions” section that “Camberley International Investments Ltd provides funding to Fordstam Ltd and its subsidiaries as required to enable the Group to continue as a going concern”.
The accounts show that as of June 30, the balance on all related party loans was £1.514 billion though it is understood the debt now stands at close to £1.6 billion.
Jersey’s register of companies shows Camberley International Investments was first registered in August 2020 but it is difficult to ascertain the ultimate controlling parties. The company document was signed by Andrew Duncan, a director of Zedra Trust Company (Jersey) Ltd, a corporate services provider which works with “high net-worth individuals”.
The Times contacted Duncan and asked if Camberley International Investments was connected to Abramovich. He responded by saying: “We are not commenting on anything.” A spokeswoman for Abramovich did not respond when contacted for comment. Chelsea have also been approached for comment.
When Abramovich put the club up for sale in March before he had been sanctioned by the UK government, he said: “I have instructed my team to set up a charitable foundation where all net proceeds from the sale will be donated. The foundation will be for the benefit of all victims of the war in Ukraine. This includes providing critical funds towards the urgent and immediate needs of victims, as well as supporting the long-term work of recovery.”
Because of the uncertainty, rival bidders remain on alert for a sudden change in circumstances.
Sir Jim Ratcliffe’s attempts to hijack the deal with a late £4.25 billion bid were dismissed last week by both Chelsea and the Raine Group, the New York merchant bank which was appointed by Abramovich to handle the sale.
But Ratcliffe is meeting Chelsea fan groups this week and is making the point that the Boehly bid, which is being largely funded by the California-based investment company, Clearlake Capital, would lead to 66 per cent of the club falling into the hands of private equity.
Sources have told The Times that it was precisely for that reason that the consortium led by former British Airways chairman, Sir Martin Broughton, believed it had secured the approval of Raine. However, there appears to have been a late shift from within the Chelsea hierarchy to go with the Boehly bid.
Insiders close to the process claim another issue arose in the final days with regard to the Share Purchase Agreement, with the rival groups still seeking proof that Abramovich continues to own all the shares in the football club. If that remains unclear, it would seem that the Boehly group is pressing ahead without receiving those assurances.
Crucially for Chelsea, there is growing concern that those selling the club are running out of time. Last week Nadine Dorries, the culture secretary, warned that Chelsea were on “borrowed time” with the government’s licence which allows the club to operate under Abramovich’s ownership due to expire on May 31.
Government insiders are increasingly concerned about whether the deal will be done in time to safeguard Chelsea’s future and ability to compete next season.
Rasmi
Negative Nancy
Country: England
Yeah looks to be brilliant move. Invite everyone in and put the government in awkward position and change your position last second. Let’s see who blinks first. It will be the government
CaseUteinberger
Established Member
Country: Sweden
Oh, please let them go into administration! Please, please with sugar on top!
Country: England
Any other club and I think they’d go bust, even Yanited.
Chelsea though. THE luckiest club to ever exist, fully expect Ratcliffe to buy them and spend £300m in his first window. Probably get permission to expand SB and get a new £200m shirt sponsor.
The scummiest of scummy clubs.
Chelsea though. THE luckiest club to ever exist, fully expect Ratcliffe to buy them and spend £300m in his first window. Probably get permission to expand SB and get a new £200m shirt sponsor.
The scummiest of scummy clubs.
Taneruit
Established Member
Country: Switzerland
Player:Zinchenko
To be fair, Abramovich got his assets frozen all over the place and is probably in other trouble.
I was more surprised he didn’t demand it initially. Could have predicted that things would get worse for him to the point that he couldn’t compensate anymore.
“Snag” a bit of an understatement in that sentence.
Country: England
Roman is such a **** bag.
Would be amusing if they went bust - we’d auto qualify for the CL, lads!
Only downside, so would Sp**s.
Would be amusing if they went bust - we’d auto qualify for the CL, lads!
Only downside, so would Sp**s.
Game Over
Well-Known Member
Please, if you’re up there God, let those plastic scumbags go bust 
Chelsea takeover will come to end soon the UK government will give Tod Bohley the LA Dodgers owner the approval to buy them
Country: England
Player:Rice
Don't know anything about American rounders or this guy but a consortium sounds good to me. They usually end in tears.
Club statement | Official Site | Chelsea Football Club
Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Club.
Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100% to charitable causes as confirmed by Roman Abramovich. UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.
boooooo
Taneruit
Established Member
Country: Switzerland
Player:Zinchenko
I mean they are still screwed, regardless. Lots of player departures, lots of restructuring, lots of turbulent times ahead of them. They just didn't go completely bust.
Congrats 
every footie fan’s dream to have investment from a California private equity firm, just goes to show good things happen to good people 
every footie fan’s dream to have investment from a California private equity firm, just goes to show good things happen to good people 
TornadoTed
Established Member
Unfortunately I think they will be fine after a year or two, just on a similar level as us, Liverpool and Sp**s rather than United and City.
