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richard

Chelsea Finances Thread

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In the past on this site I've seen Roman criticized a lot, in particular with the departure of Jose and arrival of Grant. People have laid into him a lot for his running of the club (no names, but there have been people on this forum who have done it). People moan even now and boo when we're top of the league and I suspect a lot of people blame Roman for not spending any money.

People forget. If not for Roman we would have had to sell Gallas, JT, Lampard and others just to stay afloat. We were days from going under before Roman arrived. Now not only has he delivered 8 trophies, a CL final and 4 CL semi-finals, and world-class players and managers, not only has bought us a new training ground with world-class faciities, and invested tons in the whole structure of the club and our academy, but he's actually written off the debt that the club owed him out of his own pocket, by having it converted into shares.

We have a lot to thank Roman for, without him we'd have a lot more to moan about than drawing a home game when we're top of the league. He deserves a lot of thanks and respect for what he's done, and he's proved he is here for the long-term.

I do think this may be a prelude to Roman spending big again however, and boy do the club need it right now.

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Bison   

Fantastic, so good reading positive news on that front. I'm not a businessman and dont understand alot of the figures but its good to know the Club is being run in a positive manner. Thank you to all the guys behind the scenes who work hard to maintain this, thank you Roman Abramovich for making our dreams come true and of course thank you to all my fellow Chelsea supporters who spend their hard earned cash on tickets, merchandise etc to keep the Club running.

+1

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kembo   

Chelsea chairman Bruce Buck said: 'The club's debt load has been reduced almost to nil in order to provide more long-term stability for the club.This is bullsh*t. A debt which is repayable one day to the owner is almost meaningless. The financial stability of hte company is unchanged imo. All suppliers knew that the debt would never be recalled.

The reduction will also enable the club to comply with any regulations on debt levels which are being discussed by the football community.This is the real reason it is being done.

However, swapping debt for equity does change the balance sheet. The only way that RA is going to get his money back is either sell up or the club(company) buys back shares.

Chelsea chief executive Ron Gourlay said: 'It is still our aim to be self-sufficient and we will achieve this by increasing our revenues as we continue to leverage off our brand. We are reducing our costs by controlling expenses, including salaries and wages.'

"Our brand". Sorry, but it makes me want to puke.

CA is not spending in January because the money isn't going to be made available. The loss of games in the prem league is meaningless to the board as winning the league is not the target. The target is the w**k fest CL so that RA can show off to all his fellow european billionaires. The African players will be back by the time the CL starts.

I don't know what it is but everytime the board announce something it makes me feel sick.

I really wish some fans/supporters down in London would do a Chelsea version of FC United of Manchester.

For the avoidance of doubt I do recognise that without RA it is unlikely we would have won the league. So many, many thanks for that.

Edited by kembo

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Good news... getting closer and closer to a sustainable club

but only if we continue not to buy

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Roman has done and is continuing to do more than anybody could have ever expected of him.Chairman Bruce Buck comes up with something we'd all be pleased to hear...The debts have practically been wiped off completely,courtesy of the Russian.

http://www.guardian....ch-debt-scolari

So no outstanding debt.Wow.For the highest paying club in player salaries and agent fees,that sure is something , I'm sure Man City will take up that mantle sometime soon and no complaints there.

Thinking of Roman's timeline at the club from what best I remember:

-2003,takes over the the holding company of the club,had some massive debts suddenly didn't look so bad,nearly half of the debts are paid off by Roman's own money which the club owed him at the time,as an interest free loan too,none of the turmoil like Liverpool with RBS or United with the Glazers and the other banks involved...finished 2nd in the league,reaching the semis of the CL, last year of our good manager Ranieri at the helm.

-2004,Jose comes in,so does Drogba,Carvalho,Ferreira who remain to this day,Kezman (am I missing anyone out?),the league is won for the first time in 50 years.CL semis again,this time to that "goal" grrr from Garcia.

-2005,Essien comes in,consecutive league titles won.

Somewhere in this time,those interest free loans were converted into shares of the club,so not only does the guy have an shareholder's interest in the club now, he already owns the parent company,which doesn't quite add up,but I'll take it for now before finding out more on how the dealings happened.

-2006, United win the title,the emergence of Ronaldo among other things and Jose's troubles with the back-room and Roman begins if I have figured the timeline correctly and Shevchenko is signed just from Roman's influence,Jose never wanted him,Ballack came in during the summer as well,free transfer with him though,

-2007 United dominating yet again with Ronaldo firing...the FA cup was won however the previous season , the same year,Mourinho was out of the club in Sept,Grant took over and Roman almost saw us win that CL final at basically the home ground in Moscow.

-2008 Player wages are going higher up, Lampard signs a new contract,Scolari bought in and we all know how that went,Hiddink coming in later to save the day.

-2009 Roman finally gets a manager he wanted in Carlo and things are looking pretty good ,despite all the hic-cups lately.I'm beyond certain Roman has learnt his ways in not interfering with player signings after the Shevchenko debacle and having Ancelotti as the guy he trusts,lets him figure out the transfer market which the Italian is rather stubborn with.

I probably have some of the facts and figures wrong in there, but I just called my memory on short notice.

-2009, today...The Chairman comes out saying that all the debts have nearly been entirely wiped out,Roman has turned into the solitary shareholder of the club by practically absorbing all the debt,turning it into stake and now our books should show that we are stable. This will go a long way when UEFA comes up with the ruling which they inevitably will that club spending can only match the turnover , not more.

Summing up,its pretty obvious how influential Roman has been for the club.I say thanks and hats off to the guy,he's not some billionaire who just wants to have a football club as a hobby.After 7 years at the club,he comes up and completely turns the fortunes around ,even more than he did in 03'. Hats off to the Russian, love him or hate him or doubt him , he sure loves the club.

This along with some of the best years the club has had,makes it one of the most significant events in the club's history.

Can anybody throw more light on just how Roman has gone about acquiring the club and what his current stake in the club is, if he doesn't own it entirely ?

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Nicholas   

......... We were days from going under before Roman arrived. .......

This has been debunked several times on this site, James, that it's not even funny anymore that as frequently as you visit this these forums, you fall for the oft-repeated press lines about Chelsea's future pre RA. You may want to go back and read similar topics for your own good.

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"The reduction will also enable the club to comply with any regulations on debt levels which are being discussed by the football community". This is the real reason it is being done.

And your problem with that is what exactly?

I really wish some fans/supporters down in London would do a Chelsea version of FC United of Manchester.

Truly hilarious. Abramovich out - what has he ever done for us, the JCL. Post of the year, squeezed in right at the last minute.

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Very good news indeed. I'm not a financial wiz-kid nor did I stay at a Holiday Inn last night... but could this be the first steps in selling the club? You know, getting all the books in order so the accountants can come in and do their due dlilgence? Scarey and I hope not...

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ChelC   

Where does this leave us in terms of January spending? Its patently obvious to even a blind man we need to spend big. Maybe Roman is clearing a path to allow us to spend big again. We certainly need to IMO. It does make it easier to spend big in January without breaking the new debt rules which will come into force soon.

Another sign of Roman's long-term commitment to the club as well. He's not going anywhere.

LOL you will never stop being optimistic where new signings are involved will you!!

If anything, I think the reason why Ancelotti has being going on about not buying in january is this. There will be no sense in us balancing the books then getting us back in the red by spending big in january. I think the board will try to wait till the summer when the club have some operating profits to spend.

If by the end of the financial year, we generate some profit, then the money might get put into a kitty for Carlo to play with. I think theboard and carlo might have sat down and talked about the long term strategy of us not spending so much money and him making do with the little fruits of the academy for the short term.

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A super Roman chant should be made and sung every game. We owe the man our gratitude.

+1 to that. We should do that at the next home game to show our appreciation.

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