Not so different at Chelsea according to Private Eye (13-26 May)
Chelsea are funded by interest free loans from an off shore holding company, which is presumably funded by Abramovic. Effectively, Chelsea are 460 odd million in debt. The debt (or part of it) is callable with 18 months notice apparently. I had assumed that Abramovic was funding them directly, but it appears he's not that foolish ... Of course, they could default on the repayment should they go bust, but he'd at least be first creditor in line
Posted By: BerlinCanary on May 25th 2005 at 18:49:39
Message Thread
- How to Buy a Football Club for Free - by Malcom Glazer (Other Football) - Iwan Husarmi, May 25, 18:32:51
- Not so different at Chelsea according to Private Eye (13-26 May) (Other Football) - BerlinCanary, May 25, 18:49:39
- Fulham are also highlighted in PE (Other Football) - BerlinCanary, May 25, 18:59:29
- If Man Ure went bust the Glazers would lose ?270m and the banks/hedge funds would refloat (Other Football) - oh arr, May 25, 18:43:05
- but the latter might help us. (Other Football) - Tricky Hawes, May 25, 18:46:28
- It's barely a sporting contest as it is (Other Football) - Iwan Husarmi, May 25, 18:51:37
- but you are not considering the damage during the transition period (nm) (Other Football) - oh arr, May 26, 05:26:54
- It's barely a sporting contest as it is (Other Football) - Iwan Husarmi, May 25, 18:51:37
- but the latter might help us. (Other Football) - Tricky Hawes, May 25, 18:46:28
- Not so different at Chelsea according to Private Eye (13-26 May) (Other Football) - BerlinCanary, May 25, 18:49:39
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