Owner of Chelsea since 2003, Roman Abramovich is still in law, the man who owns the European champion football club.
But in fact, England withdrew this title from him because of his involvement in Russia’s invasion of Ukraine, and his closeness to Vladimir Putin. A recent BBC documentary ensures that Roman Abramovich is the person managing Vladimir Putin’s personal fortune, evidence among other things according to English authorities that the two men are closer than the oligarch wants to admit. However, until recently, despite the doubts associated with the acquisition of his fortune, Roman Abramovich was quite popular in the kingdom, due to his endless investment in the promotion of Chelsea.
billion euros in losses
Enough to make the Blues one of the strongest and most successful teams on the continent, which fight for the Premier League title almost every year. But behind this competitive image on an athletic level, there is also a less rosy image. While Chelsea is getting a lot of attention with its almost forced sale by the government, potential buyers willing to drop billions to get the baby back have necessarily done extensive studies on the subject. One of them, was implemented by the Gerald Edelman Company. This famous London-based consultancy pointed out that since its acquisition by Roman Abramovich, Chelsea have lost 1.05 billion euros and that the structure has completely prevented the future owner from looking at the earnings in court or the medium term.
Nothing to scare buyers
Admittedly, Covid was there and didn’t help matters, but since 2002 Chelsea have only had four years of earnings, and therefore 16 deficits. The chart is amazing, and it has something to scare investors. The current situation, which is already causing the club to lose millions, between sponsors and a ticket office that is turning into a spin, is not going to help matters. But the owners and investors know this well, and it was also clear that in the case of Roman Abramovich, owning a football club is clearly not a profitable process.
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