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Dubai Eagle 23 Sep 22 6.20am | |
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I am no accountant & haven't gone looking for the books to substantiate this but my immediate thoughts would be that - Maybe the Newcastle sales proceeds covered Mike Ashley's losses (because he was particularly frugal with the pennies) but I seem to remember that Abramovich wrote off a number of very large loans in his early years with Chelsea (trying to fast track the road to success) so I doubt they were ever recovered, especially as I seem to remember that one of the conditions of the sale was that RA didn't benefit directly from the proceeds. Originally posted by ASCPFC
I noticed from the Chelsea and Newcastle sales that, whilst the clubs ran at a loss, a large profit was made when the clubs were sold. I presume enough to cover any losses in the meantime.
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ASCPFC Pro-Cathedral/caravan park 23 Sep 22 11.45am | |
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Originally posted by Dubai Eagle
I am no accountant & haven't gone looking for the books to substantiate this but my immediate thoughts would be that - Maybe the Newcastle sales proceeds covered Mike Ashley's losses (because he was particularly frugal with the pennies) but I seem to remember that Abramovich wrote off a number of very large loans in his early years with Chelsea (trying to fast track the road to success) so I doubt they were ever recovered, especially as I seem to remember that one of the conditions of the sale was that RA didn't benefit directly from the proceeds. But, I guess we can say - even with Chelsea's unique circumstances - owners can expect to sell a club for a lot more than they bought it for, if it's done right, of course.
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