Let's All Laugh At... Let's all laugh at Chelsea thread

[Marty]

James' body just can't take being a professional athlete. At some point he surely has to realise this himself.

 

[Tucker]

James' body just can't take being a professional athlete. At some point he surely has to realise this himself.

He might already, but so long as people are willing to pay him you can’t blame him for carrying on.

 

[Pochemon94]

its nutty but someone brought up a joke/point about Chelsea actually being the Saudi Owned club that they are dumping all the money into using Boehly as a puppet while using Newcastle as a distraction to keep everyone from looking to deep into Chelsea. Kind of like a magic trick.

This whole thing just reeks of something awful.

 

[usahotspur]

Their value is only what someone is prepared to pay for them. I doubt there is anyone who is prepared to pay £3.7bn or more for a club whose infrastructure (stadium) is in desperate need of investment, which will cost billions to improve and not only that, the rebuild project will take years and PE based investors are not known for their patience.9⁹⁹

 

[spursfan77]

James' body just can't take being a professional athlete. At some point he surely has to realise this himself.

 

[spursfan77]

It really is unbelievable how the FFP loophole of being able to sell assets at inflated prices to affialiated entities has not been plugged. Counteracting that is the most basic aspect of the OECD transfer pricing rules, which prevent multinational corporations from allocating profits to tax havens.

It will be, they are just making the rules tighter before putting the legislation to the clubs.

 

[spursfan77]

its nutty but someone brought up a joke/point about Chelsea actually being the Saudi Owned club that they are dumping all the money into using Boehly as a puppet while using Newcastle as a distraction to keep everyone from looking to deep into Chelsea. Kind of like a magic trick.

This whole thing just reeks of something awful.

They’re going to get hit with a transfer ban I think, can only be a strategy to deal with that.

 

[Pochemon94]

They’re going to get hit with a transfer ban I think, can only be a strategy to deal with that.

idk if they will? like what can the prem hit them with? technically they haven't broken any rules. its just stupid squad building

 

[Trix]

idk if they will? like what can the prem hit them with? technically they haven't broken any rules. its just stupid squad building

ATM no they haven't, but right now the PL are putting together tighter regulations to stop the work arounds. If they make them tight enough(which is the plan) it'll hit them hard come future accounting end of years.

 

[newbie]

they have broken the rules. I thought they gave in the paperwork showing under the previous regime plazas been paid off the books?

 

[thebenjamin]

N'eto

 

[spursfan77]

idk if they will? like what can the prem hit them with? technically they haven't broken any rules. its just stupid squad building

I meant in regards to the historical agent allegations under the previous ownership.

 

[allatsea]

There are a lot of questions about Chelseas ownership which need answering.

No danger of that as there is too much money involved and people with very powerful connections

 

[nailsy]

If I have £100 and spend it on an asset with the book value of £100 I have not magically increased my wealth. Even if I do it on a payment plan.


If I have £100 and spend it on an asset with a book value of £100, I have not magically increased my wealth. Even if I do it on a payment plan.

I get what you're saying, but from an accounting point of view he's probably right.
Before you buy the asset you've got £100 cash and £0 assets. Afterwards you've got something like £75 cash and £100 in assets.
Obviously the asset value and cash will go down every year, so you keep topping up the cash value by selling things that didn't cost you anything and then buy more assets.

 

[Wig]

As I was walking up Bishopsgate towards Liverpool St station yesterday around 1pm, on my way to our game, a Chelsea fan spilled out of the Crosse Keys pub and was walking in front of me. Even though he was on his own and there were plenty of other regular people on the streets he started casually singing some racist Chelsea chants.

I told him to pack it in which only riled him up more and he called me a few choice words.

I wish I had the sense to record him singing that and found a policeman or something. Disturbingly disgusting.

The club and their fans are vile. The worst of them all.

Edit - just removed the racist chant, it makes me feel sick to write it on here.

 

[RJR1949]

I get what you're saying, but from an accounting point of view he's probably right.
Before you buy the asset you've got £100 cash and £0 assets. Afterwards you've got something like £75 cash and £100 in assets.
Obviously the asset value and cash will go down every year, so you keep topping up the cash value by selling things that didn't cost you anything and then buy more assets.

If you have £100 in cash and buy an asset for £100 then after that transaction you have £0 in cash and an asset with a book value of £100. Now if you depreciate the asset over 5 years (the maximum permitted period for FFP calculations) then in the next accounting period you incur an additional cost of £20 in your profit and loss account and the book value of your assets falls to £80.

Chelsea are engaged in a desperate game of kicking the can down the street. The massive transfer fees they are incurring are increasing their costs and to stay in line with FFP/PSR rules they have to sell players at a profit or devise accounting tricks.

It’s getting harder and harder for them to make a profit on player trading - they have sold off their best academy players and are going to find in hard to move on the players they are now buying at high prices at a profit.

And the accounting loopholes are being closed.

They might have been hoping that the FFP rules would have been declared a restraint on trade and illegal but the government is about to legislate to give an independent regulator the power to set and enforce them.

It’s only a matter of time till they crash.

 

[bubble07]

ATM no they haven't, but right now the PL are putting together tighter regulations to stop the work arounds. If they make them tight enough(which is the plan) it'll hit them hard come future accounting end of years.

But wouldn't tighter regulations require 14 PL clubs to agree to it? City Newcastle Chelsea won't agree and I'm sure they can find another 3 clubs

 

[RJR1949]

But wouldn't tighter regulations require 14 PL clubs to agree to it? City Newcastle Chelsea won't agree and I'm sure they can find another 3 clubs

It’s no longer going to be up to the Premier League to regulate themselves. The Football Governance Bill that will be introduced into Parliament in the Autumn will create an independent regulator with powers to licence clubs and enforce financial sustainability rules as a condition of those licences.

Yet another reason why Chelsea is living on borrowed time.

 

[ERO]

I get what you're saying, but from an accounting point of view he's probably right.
Before you buy the asset you've got £100 cash and £0 assets. Afterwards you've got something like £75 cash and £100 in assets.
Obviously the asset value and cash will go down every year, so you keep topping up the cash value by selling things that didn't cost you anything and then buy more assets.

And you'll have liabilities equal to your cash. Net value unchanged.

Then next year your net value will go down as your asset depreciates.

Buying loads of assets does not increase your value on its own.

 

[rossdapep]

My entire family is Chelsea. I’m my dad’s greatest disappointment haha. We talk a fair bit about it, he was a season ticket holder with my younger sister during the Zola era. Last we talked I mentioned goal keeper number 8 and Gallagher being banished from training - and his main anger was that it wasn’t so long ago they fielded a team with ten academy graduates during the Lampard first stint, with Ghuei, Hudson-Odoi, Reese James, Tomori, Tammy Abraham, Mason Mount, Kurt Zouma, Maatsen and Billy Gilmour and apart from James they are all gone. They should have been building a future with that youth team in the way they did with Terry, Lampard etc but they threw them all away. He’s in his 80s and has supported them since he was 7-8 and I must have heard him say it’s so hard to care anymore because it’s all become a bit of a joke.

This is it.

When you build a team with talented academy players you are doing a service to the community and increasing the connection to your fanbase.

What these new owners are doing is throwing that away and trying to make it much more appealing to a global audience (yes it already is) but they are taking it up even more levels.

If Tottenham ever go down that route I will be extremely sad.