The Official Thread of Chelsea FC

[A Quinn Martin Production]

Chelsea FC plc is "debt free"...or is it??

From the Guardian

When Chelsea published their accounts for 2008-09 earlier this year, the club announced that its owner, the Russian oligarch Roman Abramovich, had written off his mammoth £726m loan to the club, and converted it into shares.  But is not quite as clear-cut as that. Abramovich channelled his loans to the club, since taking it over in 2003 and wanting to spend its way to trophies, via a holding company, Chelsea Limited. He loaned money to Chelsea Limited, who then loaned it on to Chelsea FC plc, which runs the club.  It is true that the loans from the holding company to Chelsea FC plc were fully converted to shares last year. However Abramovich's loan to Chelsea Limited, the holding company which owns Chelsea FC plc, was not. That loan remains owing; in fact it increased from £701m, because Abramovich loaned another £25m in a year when Chelsea's extravagant spending, and the dismissal of Luiz Felipe Scolari and his coaching team, produced losses of £47m.  The accounts of Chelsea Limited (whose name was changed during the year to Fordstam Limited), show that loan still outstanding: £726m, owed to Abramovich.  A spokesman for the club confirmed that yesterday: "Recapitalisation of loans happened at the level of Chelsea FC plc, not the holding company (Fordstam), therefore making the football club debt free."  That is true. But Fordstam owns the football club company, and owes Abramovich £726m. The loan is interest free, but it is repayable if Abramovich gives 18 months' notice. The Russian could still demand the money back some day, either if the club is making a profit, or if he were to sell it. He has not, in fact, written off the huge loans he has made on his Chelsea adventure.

[bingobus]

Not sure where to post this but is it true that Paul Terry, brother of John, and a footballer at a lower league club has been caught doing the dirty with the bird of the clubs goalkeeper!!

It is this a new Terry V Terry comp that soccer am have started?

[Norf Tyrone]

Juliano Belletti on Twitter tonight...

On twitter:

Bye London. What city! Forever in my life. My youngest son was born there. These three years were incredible. I will return soon. Bye!

[A Quinn Martin Production]

Juliano Belletti on Twitter tonight...

On twitter:

Bye London. What city! Forever in my life. My youngest son was born there. These three years were incredible. I will return soon. Bye!

Must be going to West Ham

[Norf Tyrone]

I always like Benayoun but I'd prefer to see Kakuta and/ or Stoch given a lash.

Benayoun, 30, said: "Ancelotti wants me for next season and now everything depends on Liverpool. Chelsea will have to pay some £6m but I believe that in the end I'll be moving there."

[Norf Tyrone]

Brilliant for Blackpool to be in the Premiership.
At least Liverfool and Arse players can have a go on an open top bus!

[new devil]

 

[orangeman]

BIG NEWS :



Joe Cole and Michael Ballack to leave Chelsea 

Ballack and Cole will be high-profile departures from Stamford Bridge
Chelsea have confirmed that Joe Cole and Michael Ballack are to leave the club on free transfers this summer.

Cole, 28, will depart at the start of July after the Premier League champions reportedly said they would not offer the England midfielder a fresh deal.

He joined Chelsea from West Ham for £6.6m in 2003 and is in South Africa preparing for the World Cup.

Germany midfielder Ballack, 33, who has been with Chelsea since 2006, will also not have his deal renewed.

Ballack was set to captain Germany at the World Cup but was ruled out of the tournament with an ankle injury suffered in May's FA Cup final victory over Portsmouth.

His contract also expires at the end of June and last month he was confident a new deal with Chelsea could be struck, telling Germany's Bild newspaper: "Chelsea are absolutely my first option."

Ballack was signed by former Chelsea manager Jose Mourinho on a free transfer from Bayern Munich in 2006.

606: DEBATE
I can't help but feel disappointed that two world class players are leaving on a free

District Line
He made a total of 105 league appearances for the club - helping Chelsea clinch their first title since 2006 this year - while also winning three FA Cups.

Chelsea say that he will remain at their Cobham training base for treatment on the ankle until it is healed.

Cole's departure from Stamford Bridge will surprise many as he is expected to play an important role for England manager Fabio Capello in South Africa.

"We would like to thank him for his dedicated years of service and wish him well in his future career," read a Chelsea statement.

He failed to hold down a starting berth in the Chelsea team this season after returning from a serious knee injury in September last year.

Cole made a total of 26 league appearances and scored two goals - including a vital strike in the 2-1 victory over title rivals Manchester United in April.

Reports surfaced during the season that Cole's future was in doubt as contract negotiations over a new contract stalled, with suggestions that the player and his representatives angered Chelsea owner Roman Abramovich with their hard-line stance over wages.

Cole featured for England in the World Cup warm-up victory over Japan and scored in the 3-0 friendly victory over Platinum Stars on Monday.

His availability will alert a number of Premier League clubs, with Arsenal, Manchester United, Liverpool and Manchester City all linked with the player.

Last week, Tottenham boss Harry Redknapp - who managed Cole at West Ham - told BBC Radio 5 live that: "I've got a feeling he may have agreed a deal with somebody.

"I don't think it's going to be Tottenham that sign him but if he hasn't agreed a deal with somebody and he doesn't stay at Chelsea then we would be interested."

[A Quinn Martin Production]

Bit surprised at Cole considering he will probably start for the 4th favourites at the World Cup.  He's a player I've always rated.  He will be a great free for someone (Liverpool??) or back to W Ham??  Ballack probably back to Germany to finish his career?

[mountainboii]

Bit surprised at Cole considering he will probably start for the 4th favourites at the World Cup.  He's a player I've always rated.  He will be a great free for someone (Liverpool??) or back to W Ham??  Ballack probably back to Germany to finish his career?

Or to the Middle East for the mega bucks.

[A Quinn Martin Production]

Bit surprised at Cole considering he will probably start for the 4th favourites at the World Cup.  He's a player I've always rated.  He will be a great free for someone (Liverpool??) or back to W Ham??  Ballack probably back to Germany to finish his career?

Or to the Middle East for the mega bucks.

Yeah, or the US with Henry

[Norf Tyrone]

Sad to see Joe Cole and Ballack leave. However I am f**king gutted that Miroslav Stoch has gone. That's a real blow.

He was offered a new 4 year deal with Chelsea, but he turned on down as he was not guaranteed first team football. As such Chelsea had no option but to let him go now before his contract expired in June 2011. £4 million quid apparently.

With Cole, and Stoch away Chelsea now definately need a winger or two.

[paco]

They must have really big plans letting all those players go. Transfer market will be exciting this year. Need to get over the World Cup first though!

[Eastern_Pride]

PROBABLE LINE-UPS

ENGLAND: Hart (Manchester City); Johnson (Liverpool), Terry (Chelsea), King (Tottenham), A Cole (Chelsea); Lennon (Tottenham), Lampard (Chelsea), Gerrard (Liverpool), Milner (Chelsea); ; Rooney (Manchester United); Crouch (Tottenham).

Do the Irish Times know something we don't?

[Norf Tyrone]

I always like Benayoun but I'd prefer to see Kakuta and/ or Stoch given a lash.

Benayoun, 30, said: "Ancelotti wants me for next season and now everything depends on Liverpool. Chelsea will have to pay some £6m but I believe that in the end I'll be moving there."

Looking like Benayoun could be announced tomorrow. I like the lad, but not sure the strategy of letting Cole and Stoch and getting him in?