huss9 Posted May 31, 2022 Share Posted May 31, 2022 (edited) 2 minutes ago, Optimistic Nut said: chelsea had over £1billion of debt. i'me sure. was all to their owner though. Edited May 31, 2022 by huss9 Link to post Share on other sites More sharing options...
Manxst Posted May 31, 2022 Share Posted May 31, 2022 1 minute ago, huss9 said: chelsea had a load of debt. theyve had to clear it for the buy out. They didn’t HAVE to clear it. It’s just been written off by Abramovich. Link to post Share on other sites More sharing options...
Manxst Posted May 31, 2022 Share Posted May 31, 2022 1 minute ago, huss9 said: chelsea had over £1billion of debt. i'me sure. was all to their owner though. £1.6bn debt https://theathletic.com/news/chelseas-16bn-abramovich-debt-becoming-a-concern-as-boehly-tries-to-finalise-takeover-of-club/HhCQBRtNQDXh/?amp=1 Link to post Share on other sites More sharing options...
huss9 Posted May 31, 2022 Share Posted May 31, 2022 Just now, Manxst said: They didn’t HAVE to clear it. It’s just been written off by Abramovich. yeah sure, but i meant technically they weren't debt free like that article mentioned. Link to post Share on other sites More sharing options...
Manxst Posted May 31, 2022 Share Posted May 31, 2022 Just now, huss9 said: yeah sure, but i meant technically they weren't debt free like that article mentioned. But that article is from today. Today they’re literally debt free. Link to post Share on other sites More sharing options...
SAK Posted May 31, 2022 Share Posted May 31, 2022 11 minutes ago, Manxst said: They didn’t HAVE to clear it. It’s just been written off by Abramovich. Didn’t the Boehly consortium pay off the debt just that it goes to charitable causes and not to Abramovich or did I imagine that? Link to post Share on other sites More sharing options...
Manxst Posted May 31, 2022 Share Posted May 31, 2022 1 minute ago, SAK said: Didn’t the Boehly consortium pay off the debt just that it goes to charitable causes and not to Abramovich or did I imagine that? Don’t know. I think the debt just got cancelled. The figure of 4.25bb for the club is supposedly 2.5bn for the club and the 1.75bn extra on top guaranteed for stadium, infrastructure and squad building I think? Link to post Share on other sites More sharing options...
Numbers Posted May 31, 2022 Share Posted May 31, 2022 So how does that written off debt affect FFP? Link to post Share on other sites More sharing options...
Manxst Posted May 31, 2022 Share Posted May 31, 2022 Just now, Numbers said: So how does that written off debt affect FFP? Debt (or lack of) doesn’t affect it, I think? Link to post Share on other sites More sharing options...
Numbers Posted May 31, 2022 Share Posted May 31, 2022 Just now, Manxst said: Debt (or lack of) doesn’t affect it, I think? So how did they get into Debt in the first place, surely it was from player purchases? Link to post Share on other sites More sharing options...
Dr Jinx Posted May 31, 2022 Share Posted May 31, 2022 Unless Chelsea are to be suddenly run like how Mike Ashley ran us, that write off is simply kicking the can down the road. The club isn’t profitable enough to sustain the success it think it’s capable of achieving so they will continue to bleed money and their new American overlords will have a stroke when they see how much of their fortunes are diminishing trying to sustain it. Link to post Share on other sites More sharing options...
Keegans Export Posted May 31, 2022 Share Posted May 31, 2022 3 minutes ago, Numbers said: So how did they get into Debt in the first place, surely it was from player purchases? Not necessarily. Spurs' was/is mostly the new stadium. Link to post Share on other sites More sharing options...
Manxst Posted May 31, 2022 Share Posted May 31, 2022 Just now, Numbers said: So how did they get into Debt in the first place, surely it was from player purchases? Running costs are a big issue- they were/are losing significant amounts per week. And their wage bill is second highest in the PL at £333m. As well as spending significantly on players (200m+ last year?) Link to post Share on other sites More sharing options...
Miggys First Goal Posted May 31, 2022 Share Posted May 31, 2022 Sure I read they were losing £900,000 per week. Link to post Share on other sites More sharing options...
Manxst Posted May 31, 2022 Share Posted May 31, 2022 https://www.thefootballboardroom.com/2021/12/30/chelsea-finances-2021-champion-losses/amp/ good summary Link to post Share on other sites More sharing options...
Whitley mag Posted May 31, 2022 Share Posted May 31, 2022 They can’t just write off debt without it affecting FFP, it would be like us going on a 500 million spree this summer and then PIF just paying off the debt. However, much like Everton I’m sure they’ll find away around it. Link to post Share on other sites More sharing options...
Dr Jinx Posted May 31, 2022 Share Posted May 31, 2022 You can be sure the PL and other clubs wouldn’t be nearly as lenient with us. We’re going to have to be extremely tricksy to keep ahead of it. Link to post Share on other sites More sharing options...
TheBrownBottle Posted May 31, 2022 Share Posted May 31, 2022 Debt and losses are separate issues - under FFP, you can only rack up 110m in losses over three years; if you came into that three years carrying a billion of debt, that won't impact it. Stadiums, training grounds etc don't count towards FFP -so the likes of Spurs and Arsenal are able to rack up losses on infrastructure which don't hit the FFP bottom line. NUFC under Ashley carried around 130m of debt, but we were golden under FFP as we won't losing money season by season Chelsea lost an average of around 1m per week for the entirety of the Abramovich ownership - though of course, they didn't ultimately, as the club was sold for 2.5bn which means that Abramovich would've made a sizeable profit on the money he'd sunk into the club (or at least roughly break even given inflation) were he allowed to actually have the money Link to post Share on other sites More sharing options...
Hovagod Posted June 1, 2022 Share Posted June 1, 2022 6 hours ago, Dr Jinx said: You can be sure the PL and other clubs wouldn’t be nearly as lenient with us. We’re going to have to be extremely tricksy to keep ahead of it. Gives me a vision of a rendered in cartoon representative of The Premier League shaking their fist furiously at us. ‘Ohhhh you….’ Link to post Share on other sites More sharing options...
jack j Posted June 1, 2022 Share Posted June 1, 2022 I see loadsa players are now playing on that Saudi golf tour carry on. Link to post Share on other sites More sharing options...
SUPERTOON Posted June 2, 2022 Share Posted June 2, 2022 We dodged a massive bullet here Link to post Share on other sites More sharing options...
Rich Posted June 2, 2022 Share Posted June 2, 2022 Would’ve been good if Luke Edward’s did a fraction of that actual investigative journalism while championing this absolute charlatan. Also proves Fat Mike didn’t really give a fuck who he sold to, amazingly enough. Link to post Share on other sites More sharing options...
Stifler Posted June 2, 2022 Share Posted June 2, 2022 What’s the article say? Link to post Share on other sites More sharing options...
Hanshithispantz Posted June 2, 2022 Share Posted June 2, 2022 (edited) Henry Mauriss says he was ‘at the finish line’ to buy Newcastle. Will Sheffield United be different? Henry Mauriss is an American businessman who has lodged a £115-million takeover bid for the Championship club Sheffield United yet, to many within the football industry, the source of the funding and how that would impact the club remains something of a mystery. On April 21 this year, The Athletic revealed that the English Football League (EFL) is reviewing Mauriss’ offer as he attempts to purchase Sheffield United from the Saudi Prince Abdullah bin Mosaad bin Abdul Aziz Al Saud. The deal is subject to the EFL’s owners’ and directors’ test and Mauriss needs to satisfy the EFL by demonstrating the source and sustainability of his funding. Mauriss has told The Athletic that he has “provided evidence of sufficient resources already, which has led the EFL to proceed with the remainder of its normal fit and proper examinations”. The EFL declined to comment but The Athletic has learnt that the organisation does not currently believe itself to be in possession of the relevant materials from Mauriss that would allow them to scrutinise and approve the takeover. Sources close to Mauriss say this work is ongoing by his financial and legal team. Mauriss’ period of exclusivity has lapsed, although talks over a takeover are ongoing between his representatives and Sheffield United. With his potential takeover of the Championship club still live, for the first time we can chronicle the intimate details of Mauriss’ previous attempts to purchase Newcastle United, which may be of interest to those watching this latest bid take shape. At Newcastle, for example, we have seen evidence to say advisors to former owner Mike Ashley grew tired of the repeated delays, while Mauriss also appeared to explore the possibility of taking high-interest loans to purchase the club, as well as the potential of taking investment from an Emirati fund chaired by Sheikh Khaled, who is a distant relative of Manchester City’s majority shareholder Sheikh Mansour. A consortium led by Saudi Arabia’s Public Investment Fund ultimately purchased Newcastle for around £305 million last October. Mauriss has insisted, on the record, that this takeover will not be leveraged as a loan against Sheffield United and he insists there will not be a minority partner. The deal, he says, will instead be funded via a bond for his company ClearTV Media, which will need to be repaid in time. As a result, we submitted a number of questions to Mauriss, and publish several documents within this article, so that football supporters are fully aware of what may lie ahead for a prized community asset in Sheffield United, and to ask whether the delays and eventual failure of his Newcastle takeover may be repeated once more. What is the state of play at Sheffield United? Sheffield United are currently owned by Saudi Arabia’s Prince Abdullah bin Mosaad bin Abdul Aziz Al Saud. He bought 50 per cent of the club in 2013 before assuming full control in 2019 after winning a legal case against Kevin McCabe, who owned the other 50 per cent. The club recently spent two years in the Premier League before dropping back into the Championship, where they finished fifth last season and lost out on promotion via the play-offs. Prince Abdullah is open to selling the club and is said to be particularly pleased by the £115 million valuation of Sheffield United. Under the multi-club United World Holdings structure, he also owns Beerschot in Belgium, LB Chateauroux in France, Al-Hilal United in the UAE and Kerala United in India. This proposed takeover would solely be for Sheffield United. Representatives of Mauriss attended Sheffield United games towards the end of the season but initial discussions began late last year before the framework of a price was agreed in January. Sources close to the takeover, on both sides of the deal, insist that while the American’s exclusivity period has lapsed, he still wishes to buy the club despite the team failing to reach the Premier League. Additionally, Mauriss has earmarked Stephen Bettis, the club’s current chief executive, to continue in his role if the takeover is successful. Just how wealthy is Mauriss? This is where it becomes unclear. For context, Mauriss is based in California and he owns a company called ClearTV. As ClearTV is a private company, it is difficult to know the true extent of Mauriss’ wealth. There is very little of note beyond the company’s website and some press releases online that details the work of ClearTV. The Athletic has seen brochures promoting the company that say that the firm is headquartered in Los Angeles and “owns and operates a proprietary television platform that delivers highly relevant content to targeted audiences inside airports & healthcare venues (hospitals, et al)”. The presentation says that “ClearTV is partnered with the the highest rated television networks and online producers in the industry”. Between the brochure and his website, they claim these include extremely famous brands, including Bravo, Sony Pictures, CBS Sports, AXS.TV, PGA Tour, Cooking Channel, ABC, Reuters, CNBC, VH1, History Channel, WSJ, Weather Channel, AMC, Disney, 20th Century Fox, NBC, Universal, the BBC and many more. Edited June 2, 2022 by Hanshithispantz Link to post Share on other sites More sharing options...
SUPERTOON Posted June 2, 2022 Share Posted June 2, 2022 4 minutes ago, Stifler said: What’s the article say? Basically he wanted a Burnley style takeover of us if I’m reading it correctly. Link to post Share on other sites More sharing options...
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