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Originally Posted by yesman
I was under the impression that Abramovich had bailed Chelsea out, i.e. paid off their debts, but, apparantly not according to this site, it was only a loan, (use the dropdown box for other clubs suffering financial difficulty) so if he loses interest their would be a few people out of work. 
Actually, I would not like to see that happen to any football club, but, anyone who employs Kenyon as a financial advisor deserves all they get.
If you hadn't worked it out, I just can't stand that guy, even when he was at united, talk about a milkman............ |
That's pretty common business practice though, especially in football. I know it's what Doughty's done at Forest. Makes sense when you consider if we (or anyone) went into admin then he would be a creditor and entitled to some of his money back, or he could get return on some of his "loan" if financial circumstances warranted it. I also believe Doughty's only acting as guarantor to a lot of the debt- that's if he's not paid it off himself and loaned it back as rumoured over the summer. It's also done that way for tax purposes, it's not possible just to pump money into a business in the red I don't think so "loaning it" is a tax writeoff for ND/RA and a legit way to give the club money...
Don't care about Kenyon though. As long as the Russian keeps bankrolling the club and doesn't get busted by MI5 or whoever then it's a case of "we'll cross that bridge if/when we get to it"
