Premier League 21/22: Page 118 - The Arsenal discussion forum and community: One More in the Tolly

Premier League 21/22

QuincyAbeyie

Clrnc wrote:
The statement literally says and give evidence of Roman helping the Ukraine invasion. Absolutely damning.

[Twitter]

[Twitter]

Good luck staying in budget hotels or long bus rides.

😆 Chelsea players flying Ryanair with their boots and shin guards under the seat.

Gazza M

schadenfraude to the max. lie down with dogs etc

lukaku is probably sweating bullets as well

Burnwinter

I mean no player sales in summer would be incredible, you might see an open revolt. If Tuchel walked on his contract, could they even replace him?

TambourineMan

What I'd like to understand is:

Can the UK government sell Chelsea without Roman's approval or are they only able to freeze his assets? I suspect to sell the club without Roman's say so, one of two things needs to happen - they officially sieze the club (not sure about the legality of this) or the club fails to meet it's obligations and is put into administration at which point the courts appoint a liquidator to take control of the club.
If Roman needs to approval a sale knowing full well he will have no control over the proceeds - will he sanction it?
If the UK government can't sell the club - how long can Chelsea operate under the special conditions they have been granted before they run out of funds?
Will their players, sponsors etc. be able to cancel their contracts with Chelsea?

So many other questions as well. Will be following this story keenly. I think some Chelsea fans are being overly optimistic in thinking the club will still be sold by the UK government and things will go back to normal but I don't see Roman playing ball which is why one of the most important aspects of this is if the club can be sold from under him.

jones

Gazza M wrote:
schadenfraude to the max. lie down with dogs etc

lukaku is probably sweating bullets as well

Imagine Romelu checking into Ibis Budget hotel before a CL match. He'd do a dirty protest on the pitch

TambourineMan

Just read a pretty good article in The Telegraph - as suspected Roman will have to hand over the sale process to the UK government with the proceeds being controlled by the UK government.

There is zero chance he hands over a £2bn asset. No way.

TambourineMan

How sweet it would be if Roman decides to retain the club and in the process absolutely destroys the football club. I just don't see him handing the keys of the club over. If he does, then I think it would be fair to say he does actually have the club's best interest at heart.

Qwiss

Burnwinter wrote:
I mean no player sales in summer would be incredible, you might see an open revolt. If Tuchel walked on his contract, could they even replace him?

They'd probably have to do it internally.

Panda

They surely can't last much longer if they're unable to make any money whilst an asset of Abramovich so he will have to hand over to Govt or watch his club die. What a shame... 😆

Ricky1985

jones wrote:
Gazza M wrote:
schadenfraude to the max. lie down with dogs etc

lukaku is probably sweating bullets as well

Imagine Romelu checking into Ibis Budget hotel before a CL match. He'd do a dirty protest on the pitch

😆 😆 😆

Ricky1985

This is actually going to end with a John Terry and Dennis Wise double act working for free next season isn't it?! 😆

Chelsea are back! The car park could be brought back at the Bridge as a side hustle that the government don't know about! 😆 "Well, season ticket holders need somewhere to park, you know Boris?!".

Clrnc

jones wrote:
Apparently Chelsea can still be sold, just depends on whether Abramovich is fine with the UK government handling the whole process. Would've been handy to have Corbyn in charge now wouldn't it

Yep. Can't see him letting them do that

Also, Chelsea major sponsors just announced they are reviewing the situation, while Rudiger and Christensen will leave at the end of the season

TambourineMan

One thing that is being overlooked is that the decision to hand over Chelsea may not belong to Roman solely. I'd imagine Putin would not be best pleased with his pal if he handed over a £2bn asset to a NATO member.

The more I think about it, the more I think they are truly fucked.

goon

Tambourine Man wrote:
Just read a pretty good article in The Telegraph - as suspected Roman will have to hand over the sale process to the UK government with the proceeds being controlled by the UK government.

There is zero chance he hands over a £2bn asset. No way.

I imagine the proceeds would just be forzen. He'd be better off gambling that he'd eventually get that back as opposed to holding Chelsea and watch it all burn anyway whilst still having no control. Problem for him is that he may get a fraction of what he wants.

jones

Tambourine Man wrote:
One thing that is being overlooked is that the decision to hand over Chelsea may not belong to Roman solely. I'd imagine Putin would not be best pleased with his pal if he handed over a £2bn asset to a NATO member.

The more I think about it, the more I think they are truly fucked.

The 2bn asset belong to Abramovich not Russia. He bought it precisely so he'd have something that's not-Russian/Western in nature:

Also looking at the cost incurred by this war to the Russian economy a 2bn loss would be barely noticeable.

TambourineMan

goon wrote:
Tambourine Man wrote:
Just read a pretty good article in The Telegraph - as suspected Roman will have to hand over the sale process to the UK government with the proceeds being controlled by the UK government.

There is zero chance he hands over a £2bn asset. No way.

I imagine the proceeds would just be forzen. He'd be better off gambling that he'd eventually get that back as opposed to holding Chelsea and watch it all burn anyway whilst still having no control. Problem for him is that he may get a fraction of what he wants.

I don't think the UK government would hold the proceeds for him (albeit frozen) if he cedes the sale process to them. It doesn't really make sense for them to take on that risk - how would they be able to justify selecting the highest bidder if the proceeds remain with Roman? The only way this happens is if by ceding control of the sale process, the proceeds generated are then controller by the UK government. I don't see Roman agreeing to this (see my post above where I think Putin would be displeased with this outcome as well).

I actually think his best course of action is to allow the club to go into administration and be handed over to the liquidators. They'll then do their thing and strip the club of its assets and distribute the proceeds to the club's exisiting creditors (noting they won't be able to take on additional liabilities at this point). Once the club's creditors are paid, what remains will be distributed to Roman. This distribution will then sit as a frozen asset in the UK and will be his best bet at getting anything out of the club.

That's my take. Optimistic but I think a likely outcome. I just can't see the UK government holding a sale process for the club and then holding the proceeds for Roman. If they take over the process, they control the proceeds. Too much risk involved by structuring it in any other way. Can you imagine the public outrage if they sell the club for £2bn and then give it back to Roman ten years down the line when things clear up? Just can't see it happening.

jones

Tambourine Man wrote:
Can you imagine the public outrage if they sell the club for £2bn and then give it back to Roman ten years down the line when things clear up? Just can't see it happening.

There was no outrage when he bought the club in the first place. The scenario you're painting is anything but unrealistic.

TambourineMan

jones wrote:
Tambourine Man wrote:
One thing that is being overlooked is that the decision to hand over Chelsea may not belong to Roman solely. I'd imagine Putin would not be best pleased with his pal if he handed over a £2bn asset to a NATO member.

The more I think about it, the more I think they are truly fucked.

The 2bn asset belong to Abramovich not Russia. He bought it precisely so he'd have something that's not-Russian/Western in nature:

Also looking at the cost incurred by this war to the Russian economy a 2bn loss would be barely noticeable.

Of course it's owned by Roman alone and Russia has nothing to do with it. But we are living in unprecedented times. Russia is at war and Roman is a Russian ally. Him handing over a £2bn asset to Putin's enemies will not go down well. He will be under pressure to fight this outcome.

goon

Tambourine Man wrote:
goon wrote:
I imagine the proceeds would just be forzen. He'd be better off gambling that he'd eventually get that back as opposed to holding Chelsea and watch it all burn anyway whilst still having no control. Problem for him is that he may get a fraction of what he wants.

I don't think the UK government would hold the proceeds for him (albeit frozen) if he cedes the sale process to them. It doesn't really make sense for them to take on that risk - how would they be able to justify selecting the highest bidder if the proceeds remain with Roman? The only way this happens is if by ceding control of the sale process, the proceeds generated are then controller by the UK government. I don't see Roman agreeing to this (see my post above where I think Putin would be displeased with this outcome as well).

Either way he has no control of the assets, what difference does it make? This would be his best chance of getting some value. 100% the main thing the UK Gov will be worried about is the image of them being responsible for the liquidation of a club, there's no way I can see that happening even with Ukraine in the backdrop.

Complicated for sure, but the alternatives will never be allowed to happen regardless of what we're all fantasising about.

TambourineMan

goon wrote:
Tambourine Man wrote:
I don't think the UK government would hold the proceeds for him (albeit frozen) if he cedes the sale process to them. It doesn't really make sense for them to take on that risk - how would they be able to justify selecting the highest bidder if the proceeds remain with Roman? The only way this happens is if by ceding control of the sale process, the proceeds generated are then controller by the UK government. I don't see Roman agreeing to this (see my post above where I think Putin would be displeased with this outcome as well).

Either way he has no control of the assets, what difference does it make? This would be his best chance of getting some value. 100% the main thing the UK Gov will be worried about is the image of them being responsible for the liquidation of a club, there's no way I can see that happening even with Ukraine in the backdrop.

Complicated for sure, but the alternatives will never be allowed to happen regardless of what we're all fantasising about.

Let's see how it plays out but I think there is no way Roman cedes management of the sale process if he has no control over the proceeds and there is no way the UK government take on the risk of essentially selling the club for Roman's benefit so something will have to give.

One thing that could happen is if Roman and his people continue to negotiate the sale and the take the offer to the UK government. They then process the sale and freeze the proceeds. That's a possibility and would be a solution that's palatable for Roman, the club and UK government as well.

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