‘Chelsea’s price seems excessive’
Chelsea will be a desirable football club for many given their status in the game, but the £3billion value placed on the club by Roman Abramovich is high, according to football finance expert Kieran Maguire.
He said: “It seems excessive because it actually values Chelsea more than Manchester United and we know their value because we can look at their prices on the stock market.
“Chelsea have a much smaller stadium, they don’t have the same global fanbase as Manchester United and there are ongoing issues over Stamford Bridge.
“Most commentators feel it is not big enough to generate the money anyone would want going forward. There is no capacity to increase Stamford Bridge given where it is located. in London, so moving elsewhere in London would be very expensive indeed.”
Wednesday, Abramovich said he plans to sell the club and revealed he will be asking for ‘no loan repayment’ which is important for Chelsea.
Maguire said: “Chelsea don’t have the capacity to repay the loans. If you look at their most recent balance sheet I think they had around £16m in the accounts so the ability to repay the loans was not there Not that there was ever any intention of Roman Abramovich to call on the loans.
“In terms of the sale, provided he gets the right price, I think the loans, according to the statement, are going to be written off and so the proceeds of the sale, less any costs incurred, would be deducted and the rest would go to the facilities and charity that Roman Abramovich is trying to direct his money to.”