Sunday, 18 January 2009

I don't know much about football.....

.... but this doesn't look good......

ROMAN Abramovich, the Russian billionaire, has been taking soundings over selling Chelsea football club to Gulf Arabs.

I especially liked this bit...

He bought Chelsea for about £60m in 2003, taking over £80m in debts, and has since provided at least £500m in loans to buy new players.

What are the chances of him getting his loans repaid?

(From the Times)

4 comments:

passer by said...

The party is not yet officially over, the Arabs still have to take their haircut too.

electro-kevin said...

I've just spent the weekend with a friend who's an ardent - and forty year - Man U fan. For the first time he's given up on buying a season ticket, this owing to Sky scheduling matches all over the place.

Combine this with the credit crunch...

I hope so. Along with the housing boom Premiership football has been NuLab's panem et cirsenses

Sureseam said...

Abramovich was on a glide path that involved burning money. Chelsea was never a business proposition for him, it was always vanity.

The news is his firesale.

Art Pepper said...

According to the Chelsea FC website Roman Abramovich will begin defamation proceedings on Monday 19th against the publishers of the Sunday Times.

Alice, many thanks for a superb 'must read' site. AP.