Roman Abramovich plans to sell Chelsea | SOLD for £4.25BN

[SirReginald]

Roman will not sell, unless he gets the money.
I can see a legal battle being in preparation.

I’m not sure there’s an issue here for the club sale itself. It was never going directly to a beneficiary anyway. If RA wants to challenge for the proceeds that’s between him and the UK government.

 

[ZolaWasMagic]

Does Trivago know something we don't? Or is their social media person playing games...

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What was the content?

 

[duffer]

What was the content?

"Welcome to the @ChelseaFC family, Todd Boehly! #LetsGo "

 

[MUFC OK]

Tweet deleted because government haven't given approval? Per posts above, the UK government want to make sure Mr A can't get his £1.6bn back, ever. Possibly that isn't acceptable for him, despite public protestations to the contrary.

If there's a compromise we'll see in the next two weeks I guess?

He probably has a legal right to receive that, which might cause problems. Like I said yesterday I can see this being a landmark legal case due to the novelty of the situation. Will probably end with a new act of parliament being passed or common law decision being passed.

He won’t get that money either way. It would look awful on the part of the government.

 

[Rajiztar]

He probably has a legal right to receive that, which might cause problems. Like I said yesterday I can see this being a landmark legal case due to the novelty of the situation. Will probably end with a new act of parliament being passed or common law decision being passed.

He won’t get that money either way. It would look awful on the part of the government.

Problem is Roman s intentions whatever HMG's trust on him is very low. They try to close all rights for Roman to legally challenge for debt money before sale goes through.

Once sale is over they don't have any stick to beat Roman with.And he will not go down there after without fight. HMG s only bargain chip against Roman is Chelsea fc it seems. So try to get the stronger position as much as they can before sale goes through.

 

[MUFC OK]

Problem is Roman s intentions whatever HMG's trust on him is very low. They try to close all rights for Roman to legally challenge for debt money before sale goes through.

Once sale is over they don't have any stick to beat Roman with.And he will not go down there after without fight. HMG s only bargain chip against Roman is Chelsea fc it seems. So try to get the stronger position as much as they can before sale goes through.

I expect the sale to be rushed through and then any subsequent legal challenge to take longer to deal with. Government will effectively take the money and the. If he wants to take them court he can.

 

[choccy77]

Tweet deleted because government haven't given approval? Per posts above, the UK government want to make sure Mr A can't get his £1.6bn back, ever. Possibly that isn't acceptable for him, despite public protestations to the contrary.

If there's a compromise we'll see in the next two weeks I guess?

Roman who secretly has some ownership in the company buying it, has been caught out and also he is refusing to say what these "good causes" are.

No billionaire gives away or waves of Money, its the complete opposite of their nature.

It stinks and says it all, about who Abramovic really is.

 

[Rajiztar]

I expect the sale to be rushed through and then any subsequent legal challenge to take longer to deal with. Government will effectively take the money and the. If he wants to take them court he can.

Yes that's what the plan is. But before sales go through they try to make every single penny should never reach roman.

But Roman also wants the same if former unicefuk chief to be believed the initial 1 bn and debt money 1.5 bn both should go to Ukraine war victim foundation and should reach those people soon as possible. That's 2.5bn money should be reached to those people who really suffering.

Hope HMG people clear all the obstacles and ensure the money to reach the people in need soon as possible.

 

[MUFC OK]

Yes that's what the plan is. But before sales go through they try to make every single penny should never reach roman.

But Roman also wants the same if former unicefuk chief to be believed the initial 1 bn and debt money 1.5 bn both should go to Ukraine war victim foundation and should reach those people soon as possible. That's 2.5bn money should be reached to those people who really suffering.

Hope HMG people clear all the obstacles and ensure the money to reach the people in need soon as possible.

If you haven't noticed, this government doesn't do charity well by all accounts. I suppose there are other challenges to do with how and to where those funds would be paid as well. It will be resolved in due course and I think the stories regarding threatening the sale is just for clicks.

 

[Rajiztar]

If you haven't noticed, this government doesn't do charity well by all accounts. I suppose there are other challenges to do with how and to where those funds would be paid as well. It will be resolved in due course and I think the stories regarding threatening the sale is just for clicks.

Yes but they do look bad in general if they are the reason for delay to reach money to victims. They never want their image to be damaged for sure. So their intentions may not be charitable but won't want to be the villains either.

UNICEFuk chief Penrose is handpicked for head of the foundation by roman and buck is spoken to him directly. Penrose already wrote letter to HMG and given assurances and independance of foundation and intentions how they works. He already doing charitable work in eastern Ukraine as well.

But whatever Chelsea sales will go through smoothly and government assured of that to boehly and his lawyers as well.

 

[TheMagicFoolBus]

Roman who secretly has some ownership in the company buying it, has been caught out and also he is refusing to say what these "good causes" are.

No billionaire gives away or waves of Money, its the complete opposite of their nature.

It stinks and says it all, about who Abramovic really is.

What? He has no ownership stake. The purely hypothetical concern was over money potentially going to his children; a scenario posed by Boris and his cronies when there was resistance to turning the whole sum over to that arse-backwards excuse for a government. Boris already betrayed his intentions by talking about siphoning funds off the Chelsea sale for "UK grassroots football" - i.e. unaccountable payouts for Tory donors. The "government source leaks" were unashamed - as was Ratcliffe's bid at the 11th hour.

Abramovich has literally written off billions in losses for Chelsea - he wasn't doing this for a positive ROI. If anything he's been remarkably consistent in this regard - if profit was his motive he would have sold Chelsea long ago. Obviously he deserves to be kicked out but arguing that he's secretly been doing all this for profit is incongruous at best.

Penrose with his background as chair of UNICEF is far more qualified to disburse charitable donations than the Tories. He's quite right to point out that Boris being butthurt about not getting his piece of the pie and delaying the deal will lead to direct humanitarian consequences.

 

[ZolaWasMagic]

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24hrs later, job done almost

 

[finneh]

Penrose with his background as chair of UNICEF is far more qualified to disburse charitable donations than the Tories. He's quite right to point out that Boris being butthurt about not getting his piece of the pie and delaying the deal will lead to direct humanitarian consequences.

Accidentally libertarian

 

[TheMagicFoolBus]

Accidentally libertarian

Hah only when it comes to Boris.

Genuinely there's no difference between him and Roman - the latter profiteered from a national crisis as the USSR fell and privatised industries; the former profiteered from the COVID crisis.

As far as I'm concerned, someone with extensive experience running massive charitable organisations who is already working in Ukraine right now is better qualified.

 

[choccy77]

What? He has no ownership stake. The purely hypothetical concern was over money potentially going to his children; a scenario posed by Boris and his cronies when there was resistance to turning the whole sum over to that arse-backwards excuse for a government. Boris already betrayed his intentions by talking about siphoning funds off the Chelsea sale for "UK grassroots football" - i.e. unaccountable payouts for Tory donors. The "government source leaks" were unashamed - as was Ratcliffe's bid at the 11th hour.

Abramovich has literally written off billions in losses for Chelsea - he wasn't doing this for a positive ROI. If anything he's been remarkably consistent in this regard - if profit was his motive he would have sold Chelsea long ago. Obviously he deserves to be kicked out but arguing that he's secretly been doing all this for profit is incongruous at best.

Penrose with his background as chair of UNICEF is far more qualified to disburse charitable donations than the Tories. He's quite right to point out that Boris being butthurt about not getting his piece of the pie and delaying the deal will lead to direct humanitarian consequences.

This is what the huge concern is about:


Company and financial records seen by the JEP reveal that a St Helier-registered firm loaned £1.5 billion to one of the Chelsea FC owner’s companies.

The common thread of a network of companies linked to Mr Abramovich (pictured right), who as this newspaper revealed in 2018 was given housing qualifications to live in Jersey, appears to be a finance firm based behind a nondescript door in Colomberie.




Mr Abramovich owns Fordstam, a company registered at Stamford Bridge, also the location of the premiership side, that loans money to Chelsea FC. Fordstam has received funds from Camberley International Investments – a firm registered at 50 Colomberie.

One of Mr Abramovich’s close associates, Eugene Tenenbaum – a financier and director at Chelsea FC and Fordstam – is a Canadian national with Jersey residence. This newspaper understands that he was given his housing qualifications at around the same time as Mr Abramovich, for whom he works.

Mr Tenanbaum was until April 2020 a director at MHC (Services), a consultancy company whose office is located at Stamford Bridge. It recorded a turnover of £10.8m in 2020, with the lion’s share of this coming from Jersey (£8.53m, which was up from £8.27m in 2019). The second-largest turnover was in Russia (£1.54m), while it also made a turnover in the British Virgin Islands and the UK. Mr Tenenbaum is also a director at Evraz – a FTSE 100 steel and mining business headquartered in London with operations in Russia, with Mr Abramovich a major shareholder in the company, which had revenues of $14.1bn last year.



Also Abromovich, has not said or agreed he will be donating the proceeds to Ukraine, which is part of the agreement of sale. - It is still worded as "victims of war" - Which again is very vague and no guarentee the money would go to help Ukrainian charities.

The guy is so dodgy, only a Chelsea fan would call him Santa Clause and sit on his knee

 

[Yorke to Cole]

Why is it with stories such as these 24 hours prior you have a story saying "ministers fear that deal will collapse" and then 24 hours later all is miraculously resolved.

I knew that was going to happen. What was briefed yesterday was a non story or in other words a load of tripe!

 

[TheMagicFoolBus]

This is what the huge concern is about:


Company and financial records seen by the JEP reveal that a St Helier-registered firm loaned £1.5 billion to one of the Chelsea FC owner’s companies.

The common thread of a network of companies linked to Mr Abramovich (pictured right), who as this newspaper revealed in 2018 was given housing qualifications to live in Jersey, appears to be a finance firm based behind a nondescript door in Colomberie.




Mr Abramovich owns Fordstam, a company registered at Stamford Bridge, also the location of the premiership side, that loans money to Chelsea FC. Fordstam has received funds from Camberley International Investments – a firm registered at 50 Colomberie.

One of Mr Abramovich’s close associates, Eugene Tenenbaum – a financier and director at Chelsea FC and Fordstam – is a Canadian national with Jersey residence. This newspaper understands that he was given his housing qualifications at around the same time as Mr Abramovich, for whom he works.

Mr Tenanbaum was until April 2020 a director at MHC (Services), a consultancy company whose office is located at Stamford Bridge. It recorded a turnover of £10.8m in 2020, with the lion’s share of this coming from Jersey (£8.53m, which was up from £8.27m in 2019). The second-largest turnover was in Russia (£1.54m), while it also made a turnover in the British Virgin Islands and the UK. Mr Tenenbaum is also a director at Evraz – a FTSE 100 steel and mining business headquartered in London with operations in Russia, with Mr Abramovich a major shareholder in the company, which had revenues of $14.1bn last year.



Also Abromovich, has not said or agreed he will be donating the proceeds to Ukraine, which is part of the agreement of sale. - It is still worded as "victims of war" - Which again is very vague and no guarentee the money would go to help Ukrainian charities.

The guy is so dodgy, only a Chelsea fan would call him Santa Clause and sit on his knee

You're citing the Jersey Evening Post? A literal tabloid with a circulation under 15k? And an article written a month ago?

Yawn. There are legitimate criticisms to be made; this isn't one of them.

 

[ZolaWasMagic]

Why is it with stories such as these 24 hours prior you have a story saying "ministers fear that deal will collapse" and then 24 hours later all is miraculously resolved.

I knew that was going to happen. What was briefed yesterday was a non story or in other words a load of tripe!

The Times have had a few "Exclusives" claiming the deal is in doubt, all of which were rubbished. The one i remember recently about Abramovich wanting his loan back around the time Ratcliffe bid, was all denied via a statement. And now as you say, within 24 hrs its gone from doom and gloom, to deal almost finished.

 

[WeePat]

Why is it with stories such as these 24 hours prior you have a story saying "ministers fear that deal will collapse" and then 24 hours later all is miraculously resolved.

I knew that was going to happen. What was briefed yesterday was a non story or in other words a load of tripe!

Your username reminds me of Cole's goal vs Barcelona when Cole and Yorke did those beautiful one-twos.

 

[finneh]

Hah only when it comes to Boris.

Genuinely there's no difference between him and Roman - the latter profiteered from a national crisis as the USSR fell and privatised industries; the former profiteered from the COVID crisis.

As far as I'm concerned, someone with extensive experience running massive charitable organisations who is already working in Ukraine right now is better qualified.

The difference may be that both are flagrantly corrupt. Most are surreptitiously so. Some are merely wasteful to the point of corruption, whether the system allows them to be otherwise I'm not certain.

Either way I agree that the money is likely to be used far more effectively outside of governmental (but also RA's) paws.

 

[TheMagicFoolBus]

The difference may be that both are flagrantly corrupt. Most are surreptitiously so. Some are merely wasteful to the point of corruption, whether the system allows them to be otherwise I'm not certain.

Either way I agree that the money is likely to be used far more effectively outside of governmental (but also RA's) paws.

Agreed. Also just to add would underline the time-sensitive nature of the situation - limiting the red tape can only be a good thing right now.

 

[finneh]

Agreed. Also just to add would underline the time-sensitive nature of the situation - limiting the red tape can only be a good thing right now.

The problem is both parties correctly assume that the opposite party has poor intentions. The government correctly assumes that Abramovich will filter money through an untraceable web of companies and throw some money to a charity whilst siphoning the rest off for personal gain.

Abramovich correctly assumes that the government will see this money as a big bag of cash to flagrantly throw around to get some good PR and improve their own faltering approval ratings at the expense of much better causes (of which he'd see his children's wealth as one).

I'm guessing the government's ability to quickly and retrospectively (and often sloppily) create laws to expropriate property to suit their current agenda will be the determining factor.

The concerning thing for me is the lack of media coverage in terms of Abramovich having not had a trial. When did our country secede from the doctrines of the rule of law and innocent until proven guilty?

 

[TheMagicFoolBus]

The problem is both parties correctly assume that the opposite party has poor intentions. The government correctly assumes that Abramovich will filter money through an untraceable web of companies and throw some money to a charity whilst siphoning the rest off for personal gain.

Abramovich correctly assumes that the government will see this money as a big bag of cash to flagrantly throw around to get some good PR and improve their own faltering approval ratings at the expense of much better causes (of which he'd see his children's wealth as one).

I'm guessing the government's ability to quickly and retrospectively (and often sloppily) create laws to expropriate property to suit their current agenda will be the determining factor.

Think this is the crux of the issue - but it's also why Chelsea have appointed someone with excellent credentials whose actions and track record would strongly suggest he is well-intentioned.

If reporting is to be be believed, Pemrose has already submitted a dossier detailing exactly where and how the money would be spent. Here's a quote from him:

“The only thing between this becoming a reality and now, is politics. I have absolutely no interest in the politics of the sale. I have no interest in the politics of the Government. If politics gets in the way, then that is to me almost criminal, it really is.

“I’ve written into the document that’s gone to the Government that no-one who has ever been associated with the club, associated with the owner, can or will ever receive financial benefit. And that would go into the articles of association of the foundation. That’s written into the document that’s now in the hands of the Government. I’ve written an overview, a scoping document on the foundation, on what we want to achieve, and an initial budget to set the thing up, and get it running and allocating money.

“I’d like to say I was confident, but I’m nervous about the politics of it all. I’ve spent my entire life in humanitarian aid, and I’m very worried that what might come out of this is politics over decent humanitarian action.”

“I also hope that this Government sees the opportunity that it has here. The UK Government could create the world’s leading humanitarian foundation. And I’m prepared to stand up in front of any Government committee, panel, anything, and attest to the neutrality of how this is being created. I hope they see fit to allow it to go ahead, and I hope they allow us to get the money to the front line in Ukraine very quickly.”

Perhaps I'm naive but this genuinely seems like the best solution here. Especially if Pemrose can be taken at his word when he says he's never even spoken to Abramovich (reportedly the only point of contact was via Bruce Buck).

 

[choccy77]

You're citing the Jersey Evening Post? A literal tabloid with a circulation under 15k? And an article written a month ago?

Yawn. There are legitimate criticisms to be made; this isn't one of them.

Well no, I posted this, to show partly what one of the key issues is right now re what the government have said today specifically, there are concerns about this matter.... let alone other concerns.

That article was the best one I could find that explains it a partially a little deeper re this concern, as main new sites haven't published it today for context.

 

[finneh]

Think this is the crux of the issue - but it's also why Chelsea have appointed someone with excellent credentials whose actions and track record would strongly suggest he is well-intentioned.

If reporting is to be be believed, Pemrose has already submitted a dossier detailing exactly where and how the money would be spent. Here's a quote from him:

Perhaps I'm naive but this genuinely seems like the best solution here. Especially if Pemrose can be taken at his word when he says he's never even spoken to Abramovich (reportedly the only point of contact was via Bruce Buck).

It would clearly be the best option if we were talking about £10m or even £50m. It's probably still the best option regardless of course. However given the money we're talking about I'd be astounded if it were released on any person's commitment, no matter their reputation.

Add in the politics of potentially giving several million voters a couple of hundred quid off their energy bills and fiddling the numbers so existing supplies going to Ukraine are allocated under this amount... I'm cynical.

 

[TheMagicFoolBus]

Well no, I posted this, to show partly what one of the key issues is right now re what the government have said today specifically, there are concerns about this matter.... let alone other concerns.

That article was the best one I could find that explains it a partially a little deeper re this concern, as main new sites haven't published it today for context.

And you didn't think it was worthwhile to take a moment to consider WHY bigger and more reputable sites haven't posted something with literally no sourcing or research? Despite having a month to do so?

 

[duffer]

To be fair, the Jersey Evening Post is the paper I go to for important stuff.

 

[TheMagicFoolBus]

It would clearly be the best option if we were talking about £10m or even £50m. It's probably still the best option regardless of course. However given the money we're talking about I'd be astounded if it were released on any person's commitment, no matter their reputation.

Add in the politics of potentially giving several million voters a couple of hundred quid off their energy bills and fiddling the numbers so existing supplies going to Ukraine are allocated under this amount... I'm cynical.

Yeah fair to point out. I'm certainly far from an expert in terms of how charitable organisations are set up and structured, so that's perhaps an entire can of worms best left unopened.

Great shout on your second point - the money laundering implications and the extent to which that could be utilised for political gain hadn't even occurred to me.

 

[TheMagicFoolBus]

To be fair, the Jersey Evening Post is the paper I go to for important stuff.

https://jerseyeveningpost.com/news/2021/05/01/family-reunited-with-cat-find-out-it-is-not-their-pet/

It's really rare to find such brave journalism in times like these.

 

[WeePat]

https://jerseyeveningpost.com/news/2021/05/01/family-reunited-with-cat-find-out-it-is-not-their-pet/

It's really rare to find such brave journalism in times like these.

Yikes. That's some hard hitting stuff. Kudos to them for having boots on the ground and speaking truth to power.

 

[TheMagicFoolBus]

Yikes. That's some hard hitting stuff. Kudos to them for having boots on the ground and speaking truth to power.

#JusticeforTiger

 

[Gandalf]

https://jerseyeveningpost.com/news/2021/05/01/family-reunited-with-cat-find-out-it-is-not-their-pet/

It's really rare to find such brave journalism in times like these.

Oh it is so easy to mock, after all, the mainstream journalists are so dependable so this small time paper must be nonsense surely. Funnily enough, in amongst all the smug big time Charlie patronizing comments you did not actually provide a shred of evidence that their story is wrong. I wonder why?

 

[TheMagicFoolBus]

Oh it is so easy to mock, after all, the mainstream journalists are so dependable so this small time paper must be nonsense surely. Funnily enough, in amongst all the smug big time Charlie patronizing comments you did not actually provide a shred of evidence that their story is wrong. I wonder why?

...What? If a paper is going on record then it should provide sources...? If they don't then of course they are open to mockery.

Google "burden of proof fallacy" and get back to me.

 

[duffer]

Oh it is so easy to mock, after all, the mainstream journalists are so dependable so this small time paper must be nonsense surely. Funnily enough, in amongst all the smug big time Charlie patronizing comments you did not actually provide a shred of evidence that their story is wrong. I wonder why?

It's just funny that people are reaching so hard for anything remotely negative that they're copy & pasting a month old local paper piece (without even admitting where it came from, because they know it's a ridiculous source given the worldwide coverage this is getting).

Chelsea having a complex and dodgy ownership setup is not news to anyone, neither is the loan from one of his companies to another (people have talked about that on this site for years). This isn't some ground-breaking journalism, they've just gone on Companies House.

 

[Gandalf]

...What? If a paper is going on record then it should provide sources...? If they don't then of course they are open to mockery.

Google "burden of proof fallacy" and get back to me.

Does not really fit the burden of proof fallacy when they are citing facts that are in the public domain or is it an imposter pretending to be Roman that has housing qualifications at Colomberie which just coincidentally happens to be where Camberley is registered? Outside of Chelsea fans and Roman apologists you would be hard pushed to find anyone willing to chalk that up to coincidence, the man is a crook and always has been so of course he is attempting to be crooked now.

 

[TheMagicFoolBus]

Does not really fit the burden of proof fallacy when they are citing facts that are in the public domain or is it an imposter pretending to be Roman that has housing qualifications at Colomberie which just coincidentally happens to be where Camberley is registered? Outside of Chelsea fans and Roman apologists you would be hard pushed to find anyone willing to chalk that up to coincidence, the man is a crook and always has been so of course he is attempting to be crooked now.

Dude, the guy who posted it literally said he couldn't find it anywhere else. If these "facts" are in the public domain then it should be far easier to actually provide citations?

Feel free to actually provide something resembling evidence for the assertions made. Until then, such nonsense can, should, and will be laughed at and dismissed posthaste.

 

[Gandalf]

Dude, the guy who posted it literally said he couldn't find it anywhere else. If these "facts" are in the public domain then it should be far easier to actually provide citations?

Feel free to actually provide something resembling evidence for the assertions made. Until then, such nonsense can, should, and will be laughed at and dismissed posthaste.

So it is not a fact that he had residential rights there but somehow the Royal court of Jersey seized 7bn of his assets, funny that he would park so much on an island he has no connection to.

Strapped for cash Roman Abramovich was already finding it difficult to pay his staff's salaries, and now the island nation of Jersey has seized a whopping $7 billion of the sanctioned oligarch's assets. - Luxurylaunches

Still. it is only the little old Jersey post reporting on his residency right, right?

Chelsea FC owner Roman Abramovich given permission to live in Jersey as a 'high-value resident' (thesun.co.uk)

I think you laughed too soon, maybe you should take your own advice and learn how to google.

 

[TheMagicFoolBus]

So it is not a fact that he had residential rights there but somehow the Royal court of Jersey seized 7bn of his assets, funny that he would park so much on an island he has no connection to.

Strapped for cash Roman Abramovich was already finding it difficult to pay his staff's salaries, and now the island nation of Jersey has seized a whopping $7 billion of the sanctioned oligarch's assets. - Luxurylaunches

Still. it is only the little old Jersey post reporting on his residency right, right?

Chelsea FC owner Roman Abramovich given permission to live in Jersey as a 'high-value resident' (thesun.co.uk)

I think you laughed too soon, maybe you should take your own advice and learn how to google.

See, this is properly interesting and I appreciate you providing receipts. My genuine apologies for the condescension and ignorance I showed earlier, to both you and @choccy77.

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This would indicate that some sort of solution has been reached - I do appreciate that this was a stickier situation than I initially thought.

 

[Gandalf]

See, this is properly interesting and I appreciate you providing receipts. My genuine apologies for the condescension and ignorance I showed earlier, to both you and @choccy77.

Appreciate the sentiment and it is enjoyable to have a mature debate in this thread. I am sure it will get sorted as you say, nobody benefits from tanking the sale so compromise will be reached when deadlines loom.

 

[WeePat]

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