Abramovich Saving Chelsea Or Selling Out?
So, good old Roman has bailed the club out again. As we know, last year, our Russian owner halved the club’s debt when he turned 50 per cent of his interest-free loans into shares. Turns out though, that for Christmas this year, he’s only gone and done it again. So that’s a £340million debt blown off.
Nice work you’d think? Well, I suppose there’s two schools of thought on this one.
On the one hand, there’s the idea that this is further proof of Abramovich’s commitment to Chelsea. I mean, the man’s shelled out over £700million on us now, making sure we won’t fall outside any new rules Fifa or Uefa decide to introduce around debt. This is certainly something Bruce Buck echoes by saying “The club’s debt load has been reduced almost to nil in order to provide more long-term stability for the club. The reduction will also enable the club to comply with any regulations on debt levels which are being discussed by the football community.”
And Abramovich has definitely showed he’s taking our financial affairs a lot more seriously with the reduction in spending – both in terms of players and hangers-on in the last couple of years. Losses announced by the club reflect this as well and with his latest outlay ensuring the club’s financial security, a statement from Chelsea confirms it “demonstrates the continuing commitment from the shareholder to the group”.
However, the flip side to this is that, with it often suggested in the past that Abramovich’s departure would crucify Chelsea as a club – he could just be making sure he doesn’t make himself the bad guy if he really has had enough of life at Stamford Bridge? Or more realistically still, is making Chelsea a more attractive proposition for potential buyers?
Which one’s your money on?
Filed under: Rants
I don’t think he would want to cash out without a champions league title
Don’t be a muppet - there’s enough of those in the square media - the reason he’s done it now is because it allows him and the club to argue against UEFA nonsense about over leveraged clubs.
It also, for us fans, cuts the ground under all those silly media and other idiots who for 5 years have been displaying thjeir ignorance of economics by claiming we were exactly the same basket case as LFC and Man United.
The next year is going to be more difficult than 2009 financially and several clubs are going to go broke. Maybe even liverpool.
Those clubs esp LFC are now basically run by the banks and we aren’t.
In present economic sitaution it makes sense for a club or an individual to have as little debt as possible. Roman’s just being smart, for us and for him.
both ways the club wins but I suspect RA want his legacy to remain at the club forever, so in 20 years time expect his kids to be running the club.
buddha9 - I was playing devil’s advocate. Personally, I don’t think Roman’s going anywhere. He’s shown he’s serious about the long-term with the changes he’s made over the last couple of years. He’s here for the long-haul.
Wouldnt that be amazing, Abramovich Jr running the club in 40 years time? And before that, perhaps being given a proportion of Dads shares, and assisting in running it. I remember seeing him as a nipper with his old man at the end of the 05 season, and now he’s grown up a bit, he was at a reserve fixture with Dad at Brentford recently. So he must love the game too.
Personally I’d say welcome aboard young man!!
Also, I’d like to say a huge THANK YOU to Roman for everything he has done for the club.
yup,he’s here for the long haul.
Yho! What’s with the sensationalist headline? Selling out? I mean either way, this man has sved Chelsea FC from financial melt down, given us a world class squad and helped Chelsea FC to increase it’s turnover exponentially. You’re begining to sound like a Sun reporter with messy articles like this devils advocate or not. Whatever Roman has in mind we ought to be greatful to him for what has been the best period in the club. End of story.
Go play your “devil’s advocate” games on an Arsenal or Man. Utd. site. We don’t need stinking headlines about “selling out” spread on search engines all over the Internet. Your work is more vile than anything put out on this subject by the gutter-press.
Here, here Sir Cecil!
Sir Cecil - I hope you have better luck dislodging that stick from your arse in 2010 than you’ve had in 2009
I must admit to have never been entirely sure about our Russian benefactor but this is fantastic news for CFC and I for one will raise my glass and offer a toast to Roman this New Year!
abramovich has 6 children . which one are we talking about???????