Wouldn't surprise me if there's trouble tonight going to be two camps the grin and bare it and the angry mob things could easily spill over.

50 minutes ago, TokyoBlue said:

I wonder if the club could be sold and the funds go into a frozen account? Any legal experts out there? Also, what of the plan to give all the money to charity?

It's a mess that's for sure.

On the positive side, we tend to win the Champions League in the years when there's chaos, but this is next level!

In Banking terms there is the concept of escrow for seizing funds and in effect freezing them until a legal situation can be cleared. 

Is there the possibility that the purchase money goes into an account in a tax haven, where the UK government has no reach? I suppose that RA, like most if not all billionaires, will have a few...

56 minutes ago, TokyoBlue said:

I wonder if the club could be sold and the funds go into a frozen account? Any legal experts out there? Also, what of the plan to give all the money to charity?

 

Charity? We'd be lucky if the money got out of the Treasury! 

Since I'm not from UK, I'm still trying to figure it out.

How can the government just seize someone's private property? What about due process? As far as I can tell, so far there's no proof that Roman has broken any laws. So if you ever had any dealings with someone we don't like we can rob you of your possessions, is that how it works? Doesn't this set a very dangerous precedent and how's that any different to what they constantly accuse Putin of doing?

2 minutes ago, abramovich said:

Since I'm not from UK, I'm still trying to figure it out.

How can the government just seize someone's private property? What about due process? As far as I can tell, so far there's no proof that Roman has broken any laws. So if you ever had any dealings with someone we don't like we can rob you of your possessions, is that how it works? Doesn't this set a very dangerous precedent and how's that any different to what they constantly accuse Putin of doing?

Well don't forget they have access to intelligence that is not available to us. I would hope some due dilligence is behind the decision. That being said didn't the Conservative party benefit from significant campaign donations from Russian money?

Unless Roman sanctions a move where he walks away without a penny (literally all proceeds to Ukraine) I cannot see any sale happening now. I cannot see the government allowing him to take anything from the sale.

Heads up lads, the club will change and undoubtedly for the worse what ever happens, and we are powerless to prevent it, (unless you got a cool £3billion down the back of the sofa)  I for one accepted this days ago. 

All we can do is continue to give our loyal support to the club and whoever the owners, players and staff maybe now and in the future 

We are bigger than any crap thrown at us by the powers that be, the wealthy and those opposition pricks who are reveling in it. 

KBFFH 

  

4 minutes ago, abramovich said:

Since I'm not from UK, I'm still trying to figure it out.

How can the government just seize someone's private property? What about due process? As far as I can tell, so far there's no proof that Roman has broken any laws. So if you ever had any dealings with someone we don't like we can rob you of your possessions, is that how it works? Doesn't this set a very dangerous precedent and how's that any different to what they constantly accuse Putin of doing?

In times of war, they can. This is WW3 just without the Englishmen dying on the frontlines. 

Roman is deeply associated with Putin and this is definitely a strongarm tactic to make a "show of force" to Russia. It's just that this time around the asset isn't a boat or a house, it's a sporting entity that has provided jobs and developed infrastructure in the surrounding area. There're other ways that it can be done but this was in such poor taste.

It sets a very dangerous precedent to every foreign-owned football club that the government can use communist tactics if anything bad happens.

16 minutes ago, abramovich said:

Since I'm not from UK, I'm still trying to figure it out.

How can the government just seize someone's private property? What about due process? As far as I can tell, so far there's no proof that Roman has broken any laws. So if you ever had any dealings with someone we don't like we can rob you of your possessions, is that how it works? Doesn't this set a very dangerous precedent and how's that any different to what they constantly accuse Putin of doing?

There is a whole law around sanctions, as covered in the 2018 sanctions act. Essentially, it give UK power to introduce sanctions for a number of reasons, these include complying with UN and other international obligations, supporting foreign policy and national security objectives, as well as maintaining international peace and security, and preventing terrorism.

I should say, the evidential threshold has always been pretty high to impose sanctions - so unless that has changed, then I guess they have something concrete.

I’m confused…Roman was basically going to sell the club but donate the money from the sale to charity right? Or was he directly going to take a cut from it? It’s the “bet proceeds” that confuses me. What is determined as net proceeds?

27 minutes ago, Sindre said:

He was going to take about £2bn of it to cover his initial investment and loans to the club.

He's not going to give that up easily. And he's definitly not going to hand it over to the goverment willingly, which he would have to do for us to be sold.

Where did you read that? He said he wouldnt be calling in the debt, if he was planning on taking about £2b out the sale, that would effectively be calling in the debt. 

I think his hands are tied, there is a bill being passed through parliament which means by monday, the government can just seize the club and sell it. 

He has a couple of days the put forward a buyer or its completely out of his hands. 

I cant imagine as bad as the government are, that they want to keep the club in limbo for months.

Freeze, seize, and sell. 

If it goes to court after its been sold and somehow Roman wins, (which he wont), then the government would pay him a couple £2b, which is a drop in the ocean for them, and with Boris under extreme pressure to act, after the lockdown partys, im sure its a small risk they are willing to take to try and win back some public favour. Not to mention im sure there will be more than one or two MP's skimming from the pot.

8 minutes ago, abramovich said:

Since I'm not from UK, I'm still trying to figure it out.

How can the government just seize someone's private property? What about due process? As far as I can tell, so far there's no proof that Roman has broken any laws. So if you ever had any dealings with someone we don't like we can rob you of your possessions, is that how it works? Doesn't this set a very dangerous precedent and how's that any different to what they constantly accuse Putin of doing?

They've covered their bases a bit by saying the assets are frozen and put in trust rather than being seized. Strictly speaking Chelsea are being run by the government for now 

It's uncharted legal waters though and a legal challenge would have unpredictable outcomes. Generally speaking, we don't have many frameworks for asset seizing for a good reason, a clearly defined ability to arbitrarily seize assets isn't something you want as an economy that relies heavily on foreign investment and being one of the world's financial centres. Even this action will have a lot of individuals and countries looking to see if there's a safer place to operate. China and lots of Middle Eastern countries will be wondering if an unpopular military action or a point scoring politician could potentially make them a target.

1 minute ago, JM7 said:

I’m confused…Roman was basically going to sell the club but donate the money from the sale to charity right? Or was he directly going to take a cut from it? It’s the “bet proceeds” that confuses me. What is determined as net proceeds?

We don't really know the exact details. While the gesture seems amazing on paper it wasn't clear what exactly he would regard as proceeds from the sale, vs money that was part of his investment. 

4 minutes ago, JM7 said:

I’m confused…Roman was basically going to sell the club but donate the money from the sale to charity right? Or was he directly going to take a cut from it? It’s the “bet proceeds” that confuses me. What is determined as net proceeds?

Impossible to know. That's information that is not privy to the public

A good summary of how the club is impacted by the sanctions.

5 minutes ago, big blue said:

Where did you read that? He said he wouldnt be calling in the debt, if he was planning on taking about £2b out the sale, that would effectively be calling in the debt. 

He said net proceeds mate.

So you cover all your loans, costs and expenses first. If you sell a house for a million and give all proceeds to charity you give a million, if you have a 950.000 loan on that house and want to give the net proceeds to charity you give 50.000.

Chelsea just released a statement:-

Chelsea release statement after Abramovich sanctioned

"Chelsea Football Club has been advised that its owner Roman Abramovich has been sanctioned by the UK Government.

"By virtue of his 100 per cent ownership of Chelsea FC plc and affiliated entities, Chelsea FC would normally be subject to the same sanctions regime as Mr Abramovich. However, the UK Government has issued a general licence that permits Chelsea FC to continue certain activities.

"We will fulfil our men’s and women’s team fixtures today against Norwich and West Ham, respectively, and intend to engage in discussions with the UK Government regarding the scope of the licence. This will include seeking permission for the licence to be amended in order to allow the Club to operate as normal as possible.

"We will also be seeking guidance from the UK Government on the impact of these measures on the Chelsea Foundation and its important work in our communities. The club will update further when it is appropriate."

 

When they say 'will fulfil the fixtures today' what does that mean?  are they considering not fulfilling further ones until they are allowed to operate as normal?

9 minutes ago, abigsmurf said:

They've covered their bases a bit by saying the assets are frozen and put in trust rather than being seized. Strictly speaking Chelsea are being run by the government for now 

It's uncharted legal waters though and a legal challenge would have unpredictable outcomes. Generally speaking, we don't have many frameworks for asset seizing for a good reason, a clearly defined ability to arbitrarily seize assets isn't something you want as an economy that relies heavily on foreign investment and being one of the world's financial centres. Even this action will have a lot of individuals and countries looking to see if there's a safer place to operate. China and lots of Middle Eastern countries will be wondering if an unpopular military action or a point scoring politician could potentially make them a target.

Can the government sell the club then? And after the sale goes through what if RA sues them and wins? What happens to the new ownership? The potential buyers would want to have guarantees none of that nonsense will potentially get back to them, no one wants to spend a fortune on an asset with so much baggage attached to it.

6 minutes ago, chelseagirl1 said:

Chelsea just released a statement:-

Chelsea release statement after Abramovich sanctioned

"Chelsea Football Club has been advised that its owner Roman Abramovich has been sanctioned by the UK Government.

"By virtue of his 100 per cent ownership of Chelsea FC plc and affiliated entities, Chelsea FC would normally be subject to the same sanctions regime as Mr Abramovich. However, the UK Government has issued a general licence that permits Chelsea FC to continue certain activities.

"We will fulfil our men’s and women’s team fixtures today against Norwich and West Ham, respectively, and intend to engage in discussions with the UK Government regarding the scope of the licence. This will include seeking permission for the licence to be amended in order to allow the Club to operate as normal as possible.

"We will also be seeking guidance from the UK Government on the impact of these measures on the Chelsea Foundation and its important work in our communities. The club will update further when it is appropriate."

When they say 'will fulfil the fixtures today' what does that mean?  are they considering not fulfilling further ones until they are allowed to operate as normal?

No - they are saying lets get through the next few days and see what can be negotiated, and how much wiggle room we can get in the license.  I imagine they will be looking at a) allowing fans in b) increasing travel budget c) re negotiating existing players contracts.

How can they stop the sale of tickets?! I mean its a mere drop in the ocean in terms of revenue, and all that does is affect our support. Let me guess Boris supports Arsenal or Spurs? 😡

Edited March 10, 20224 yr by AlwaysRight

57 minutes ago, bluehaze said:

Wouldn't surprise me if there's trouble tonight going to be two camps the grin and bare it and the angry mob things could easily spill over.

Yeah, If the media thought the game vs Burnley was bad, tonight could be rough. I'd imagine plenty of, and even louder chants for Abramovich. I don't condone it, but I also understand their frustrations. Roman isn't Putin, he didn't make the decision to invade Ukraine. At the moment he is being punished due to association to Putin. 

6 minutes ago, abramovich said:

Can the government sell the club then? And after the sale goes through what if RA sues them and wins? What happens to the new ownership? The potential buyers would want to have guarantees none of that nonsense will potentially get back to them, no one wants to spend a fortune on an asset with so much baggage attached to it.

At the moment no (is my laymens understanding). Romans assets have not been seized, and instead have only been frozen (without access) and therefore the club cannot be sold, either by Roman or the UK government, as things stand at this minute.

That said, things change fast. There is the potential for Roman to apply for an extension of the license (the one that has been put in place to allow chelsea to continue to operate), which would allow the club to be sold. It depends on what the terms are of the license as to how that would be handled, but you can bet your bottom dollar that they would not simply let Roman handle it.

So - first question is no as of now. The rest are therefore moot.

This is what happens when you put incompetence in positions of power. So they will cost 100s of people their jobs and hurt their own economy in a simple game of one upmanship. For anyone who has stayed in a country like Russia/US/China/Saudi knows no one can grow without working with the govt. so unless there is evidence of RA of crimes against the crown i find this very hypocritical .

3 minutes ago, AlwaysRight said:

How can they stop the sale of tickets?! I mean its a mere drop in the ocean in terms of revenue, and all that does is affect our support. Let me guess Boris supports Arsenal or Spurs? 😡

Tickets lead to revenue. Income wont be allowed under sanctions. That is how....