How Holly Vallance Can Save Chelsea

How Holly Vallance Can Save Chelsea

DYOR Dave

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For over two decades Chelsea fans have been treated to unwavering success by their football club, but now the immediate future of their club is far from safe.

As part of their sanctions against Russia, the British government has frozen assets of Chelsea owner Roman Abramovich, who has close ties to Vladimir Putin.

His inability to participate in any business transactions means that Chelsea has been unable to pay players, negotiate contracts, sell tickets or merchandise.

Additionally, major sponsor Three Mobile has terminated their partnership with the club, while sleeve sponsor Hyundai is currently evaluating their options.

The club was required to register a special temporary license from the government in order to play their latest away fixture against Norwich.

Fans have recently shown their appreciation for their Russian owner, chanting “Roman Abramovich” prior to kick off during their most recent away match, much to the disapproval of Norwich home fans.

As part of the new agreement, which will allow Chelsea to play while a new owner for the club is found, their spending has been significantly restricted, with only 500,000 pounds to spend on match days, and 20,000 on travel for away games.

 

Despite usually taking in $36 million per month, Chelsea have only turned a profit in 5 of the 19 years since Abramovich bought the club, with the Oligarch essentially bank-rolling the club to their 21 trophies since 2003

Football academic from the University of Liverpool Kieran Maguire says that “The concern might be what happens if Chelsea’s cash reserves are insufficient to pay their wage bill.

Meanwhile, former winger Pat Nevin has said that “the future of the club is in serious danger,” although there are a few lifelines being thrown by wealthy Brits to save the historic club.

Turkish businessman Muhsin Bayrak, US billionaire (oligarch) Todd Boehly, as well as 8 other parties have reportedly registered their interest, although the most palpable of these offers has come from British property developer Nick Candy.

49-year-old Candy, who is married to former Neighbours star Holly Vallance, has offered a statement of intent to form a consortium to take over the club, worth reportedly $2.5 billion.

The merchant bank representing Chelsea has set a March 15 deadline to sell the club, meaning that fans have hope for some sort of resolution by mid-next week, although it’s still anyone’s guess as to what will unfold before then.

 

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