Russian – My Blog https://wrestlinghour.com Wed, 02 Mar 2022 15:22:39 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 Chelsea: Roman Abramovich future in doubt after Swiss billionaire claims he has been offered chance to buy club https://wrestlinghour.com/chelsea-roman-abramovich-future-in-doubt-after-swiss-billionaire-claims-he-has-been-offered-chance-to-buy-club/ https://wrestlinghour.com/chelsea-roman-abramovich-future-in-doubt-after-swiss-billionaire-claims-he-has-been-offered-chance-to-buy-club/#respond Wed, 02 Mar 2022 15:22:39 +0000 https://sportspandora.com/?p=612 Roman Abramovich’s future as Chelsea owner is in doubt after a Swiss billionaire claimed he has been offered the chance to buy the club.

Hansjorg Wyss told Swiss newspaper Blick that Abramovich “wants to get rid of Chelsea quickly” after the threat of sanctions was raised in Parliament.

Abramovich gave “stewardship and care” of Chelsea to its foundation trustees following Russia’s invasion of Ukraine.

Chelsea have chosen not to respond to the claims of 86-year-old Wyss.

The west London club have always previously denied reports that they are up for sale.

Abramovich, 55, is alleged to have strong ties to Russian president Vladimir Putin, which he has denied. Other Russian billionaires have already been the subject of European Union sanctions where their assets have been frozen.

That has included Russian billionaire Alisher Usmanov, who has commercial links to Everton.

The United Kingdom government is yet to sanction Abramovich or Usmanov, but Labour MP Chris Bryant said in Parliament on Tuesday that Abramovich was “terrified of being sanctioned which is why he is going to sell his home tomorrow [Wednesday], and another flat as well”.

On Wednesday, during Prime Minister’s Questions, Labour leader Keir Starmer asked why Abramovich was not facing sanctions, with Boris Johnson replying it was “not appropriate to comment on any individual cases at this stage”.

Wyss also said: “Abramovich is trying to sell all of his villas in England, he also wants to get rid of Chelsea quickly.

“I and three other people received an offer on Tuesday to buy Chelsea from Abramovich.”

A spokesperson for Abramovich declined to comment on those claims.

Should Abramovich decide to sell Chelsea, it would be a seismic moment for the club and English football.

Having bought the Blues in 2003 for £140m, Chelsea have been transformed under the Russian’s reign, and in many ways it has set the template for how much finance was needed to compete at the top end of the Premier League.

In total, Abramovich has loaned the club more than £1.5bn which has brought great success.

Under his ownership, the club have won the Champions League twice, both the Premier League and FA Cup five times, the Europa League twice and the League Cup three times.

In August 2021, they won the Uefa Super Cup and they recently won their first Club World Cup, meaning the Blues have won every trophy possible since Abramovich took over at the club.

Analysis by Football finance expert Kieran Maguire

Trying to value a club is always challenging. I calculated valuations for all Premier League clubs in 2020 which valued Chelsea at about £1.2bn.

Chelsea have also lost more money than any club in the history of the Premier League, so it would be difficult from a financial perspective to justify the reported £2bn price tag, especially given its stadium is much smaller than rivals from the ‘Big Six’

However, If there is a willing buyer and a willing seller then a deal is normally straightforward once due diligence from both parties has taken place.

If assets are frozen or sanctioned then it comes down to the nature of the sanctions, which may or may not prevent an individual or company taking money and/or assets out of the UK.

Chelsea’s £1.5bn debt is owed by Roman Abramovich’s company Fordstam to another of his companies, Camberley International Investments, based in the British Virgin Isles, so to an extent Abramovich is both the borrower and the lender. If the club is sold for more than £1.5bn then the proceeds could be used to pay back the loan.

So from a financial point of view football clubs are not always great investments. But for those looking to buy a club as a trophy asset, where the rewards, such as winning leagues and cups and the kudos and fame that it brings, then they may feel that a club is a worthy investment.

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Everton have suspended their commercial sponsorship arrangements with Russian companies owned by Alisher Usmanov following the invasion of Ukraine. https://wrestlinghour.com/everton-have-suspended-their-commercial-sponsorship-arrangements-with-russian-companies-owned-by-alisher-usmanov-following-the-invasion-of-ukraine/ https://wrestlinghour.com/everton-have-suspended-their-commercial-sponsorship-arrangements-with-russian-companies-owned-by-alisher-usmanov-following-the-invasion-of-ukraine/#respond Wed, 02 Mar 2022 15:13:58 +0000 https://sportspandora.com/?p=608 Everton have suspended their commercial sponsorship arrangements with Russian companies owned by Alisher Usmanov following the invasion of Ukraine.

Russian billionaire Usmanov has had his assets frozen by the European Union.

Usmanov-owned USM Holdings, which has Everton owner Farhad Moshiri as its chairman, sponsors the training ground.

Usmanov also has an exclusive naming-rights option on Everton’s new stadium which is due to open for the start of the 2024-25 Premier League season.

Digital and telecommunications company Megafon is owned by USM and sponsors Everton women’s shirts. The multi-year deal was agreed in October 2020, while Yota, part of the Megafon group, is on the sleeve of the shirt.

“Everyone at Everton remains shocked and saddened by the appalling events unfolding in Ukraine,” a club statement said.

“This tragic situation must end as soon as possible, and any further loss of life must be avoided.

“The club can confirm that it has suspended with immediate effect all commercial sponsorship arrangements with the Russian companies USM, Megafon and Yota.”

Everton added that it was doing all it can to provide “full support” to Ukrainian defender Vitalii Mykolenko, who joined the Toffees in January.

Mykolenko embraced Manchester City’s Ukrainian full-back Oleksandr Zinchenko on the pitch at Goodison Park before Saturday’s Premier League match between the teams.

Everton boss Frank Lampard agreed with the club’s decision to suspend commercial ties with the Russian companies, though he denied reports he spoke to Usmanov as part of his interview process for the Toffees job.

“The way we behaved last Saturday against Manchester City, I thought we were one of the forerunners of of behaving well, and showing solidarity and unity and in the right way and I think today again is a show of us as a club doing the right thing,” he said.

Lampard added that Mykolenko would start Thursday’s FA Cup fifth-round tie against Boreham Wood.

“He will play tomorrow. That was a decision I’d made regardless of the outside situation,” said Lampard.

“Football can be a relief for him but the conversations I’ve had I’d rather keep private because they are delicate. He is also a new player here. So many things have happened to him, moving to a different club, city and country and now he has to deal with this.

“So he has all our support on that front.”

The EU Council said it was freezing Usmanov’s assets because he is “a pro-Kremlin oligarch with particularly close ties to Russian president Vladimir Putin”.

On Tuesday, Usmanov made a statement on the website of the International Fencing Federation, an organisation of which he is president, calling the EU’s decision to impose restrictions on him “unfair” and pledged to “use all legal means to protect my honour and reputation”.

On Saturday, Chelsea owner Roman Abramovich gave “stewardship and care” of Chelsea to its foundation trustees following Russia’s invasion of Ukraine.

Swiss billionaire Hansjorg Wyss claims Abramovich “wants to get rid of Chelsea quickly” after the threat of sanctions was raised in Parliament and has been offered the chance to buy the club.

The United Kingdom government is yet to sanction Abramovich or Usmanov.

Manchester United terminated their sponsorship deal with Russia’s national airline Aeroflot last week following the country’s invasion of Ukraine.

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