Chelsea fear they won’t be able to pay their bills despite government fine-tuning to help them finish the season and now fear they could end up in administration and face a nine-point penalty if further changes are not made.
Payday for players and staff is April 1, with Chelsea’s monthly wage bill being around £28million. Although there are reservations about paying players next month, at present Chelsea’s only cash flow is their Premier League broadcast revenue and prize money from UEFA and FA to progress in their respective cup tournaments, the latter being allowed by Saturday’s clarifications. .
Hyundai became the latest sponsor to suspend marketing activities with Chelsea on Saturday, while the Premier League disqualified owner Roman Abramovich as club manager as the turmoil engulfing the club continued.
Manager Thomas Tuchel continually stresses to the players the need to focus on what they can control, on the pitch, but there remains some shock in the dressing room, with players uncertain about their own future and trajectory of the club under new ownership.
Lawyers have been consulted by most agents representing Chelsea players to see under what circumstances the club would be in breach of contract.
Chelsea fear they won’t be able to pay their bills after Roman Abramovich sanction
Despite some easing of government sanctions on Saturday, Chelsea are still unable to sell unsold tickets for upcoming games, which would be crucial to generating enough cash, with sources close to the club indicating that it will go into the red very quickly and that the club would be in serious danger unless the government gave in.
It is understood the government will reconsider the request early next week and insist they have no desire to steer the club into administration. Both sides are focused on a quick sale, with investment bank Raine Group taking offers for potential buyers.
The government will issue another amendment to the license terms to allow a sale and are happy to work with Raine Group and accept their preferred bidder.
Coach Thomas Tuchel was forced to answer awkward questions about the club’s future
Abramovich will not oppose a sale, with sources close to the owner insisting he had already agreed he would not benefit from the sale by promising war victims the proceeds.
Under the sanctions, the government will ultimately decide where the funds go.
The favorites are all North American sports franchise owners: Todd Boehly, co-owner of the LA Dodgers, who has partnered with Swiss billionaire Hansjorg Wyss and, according to Sky, London property developer Jonathan Goldstein; the Ricketts family, owners of the Chicago Cubs; and New York Jets owner Woody Johnson.
The daily mail also revealed that London property developer Nick Candy still wants to form a consortium.
The players are uncertain about their own future and the trajectory of the club under new owners
Government sanctions against Abramovich had previously allowed the club to pay staff only and imposed a limit of £500,000 to stage a game at Stamford Bridge, an amount which is around half of the necessary expenditure for a home game. This limit has now been increased to £900,000.
Contractors and temporary workers have also been added to the list of staff who can be paid, which will make it easier for Chelsea to organize home games and pay expenses for academy players, parents and rent. host families with whom the young players stay.
Previously this was unclear, leaving the club in a state of paralysis over who could legally be paid, and unsure whether they could order taxis for casual staff or have matchday hosts in the press room.
Importantly, although there is no increase in the amount the club are allowed to spend traveling to matches, which remains at £20,000. That won’t be a problem for Lille on Wednesday, who are prepaid, but £20,000 wouldn’t cover the cost of a plane to Middlesbrough in the FA Cup next Saturday.
The club’s megastore has been forced to close and officials are trying to avoid administration
While the government appears to be flexible on travel costs for future Champions League games if Chelsea progress, there is no indication that the limit will be raised for domestic games, meaning Chelsea players will have to travel. get used to training and traveling by coach for away games.
Chelsea’s corporate credit card account was suspended by Barclaycard last week who wanted to assess whether they were in breach of sanctions by providing a service, but Chelsea are confident this will soon be reinstated.
Chelsea sponsors are distancing themselves from the club, but the players are expected to continue wearing the Three logo today, even though the telecom company has requested that they not do so, as the patch on the logo turned out to be inconvenient and the chemical sprays to remove it leave. the shirt a mess.
Chelsea sponsors, such as Three, have recently sought to distance themselves from the club
Nike cannot provide new jerseys without a sponsor for fear of violating the terms of the sanctions.
A spokesman for the Department of Digital, Culture, Media and Sport said: ‘We have always said that we will engage with Chelsea to understand what is needed to allow matches to be played in order to minimize the impact on leagues, football pyramid and fans.
“Following extensive engagement with the club on the details of their structures, we have made some operational changes to the license to do so. We are open to a sale of the club and would consider applying for a license to allow this to happen.
