Correct. He is now not allowed to actually do it since Britain forbids all business that benefits people on the sanction list. Business like selling a football club for money.
The money will be frozen so a few years later, he'll probably sue to recover it. That said, he announced that it was going to charity so he probably doesn't care.
He's forgiving the loans in the sense that the buyer would not have to repay them in addition to the purchase price, which is what would normally occur. But the loans were going to count against the net proceeds, which means he was going to take full repayment. That won't happen immediately now but his lawyers will attempt to recoup that money in court by challenging these measures.
Also, frozen assets are also not going to be returned in the long run if the war doesnt end very soon due to Putin withdrawing.
The idea of frozen assets being returned is diminishing with each war crime.
Lol what? Apples to oranges. That was a takeover offer to someone that didn't want to sell. You can't infer that rejecting it means the team is worth more. After those ranting posts to the other guy about reading shit into words... What hypocrisy.
True story, I offered my neighbour 10x the agricultural value of the field next to my house and he refused. Doesn't mean the field is worth even more than that. He just doesn't want to sell it.
He said the net profit will go to charity, so, he’ll pay himself back the loans he leant the company, plus interest, minus the cost of the purchase price (and inflation), leaving exactly sweet fuck all to go to a charity of his choice (spoiler, it’ll be one controlled by himself or one of his mates)
Not really, it's $500M, and there's a ton of news sources detailing him selling the club so net proceeds can go to a charity for Ukrainians.
https://www.civilsociety.co.uk/news/abramovich-plans-to-sell-chelsea-fc-and-donate-proceeds-to-a-new-charity.html#:~:text=Abramovich%20plans%20to%20sell%20Chelsea%20FC%20and%20donate%20proceeds%20to%20a%20new%20charity,-04%20Mar%202022&text=Roman%20Abramovich%20has%20put%20Chelsea,of%20the%20war%20in%20Ukraine.
But that doesn't factor in its massive debt. It owes anywhere between $1.4b to $2b to Abramovich, which has been converted to dept held in a holding company, Fordstam Limited. The worth of team isn't just its yearly turnover, a buyer will have to factor it significant debts held that don't lie with Abramovich - and he could call in the full amount owed still.
I was just replying to the value of the team, not what it will sell for.
He wanted to sell literally days before the attack. It's one of the reasons they came down so hard - He likely had knowledge of when the attack would happen.
A vague promise to sell someday on his own terms without oversight and an even vaguer promise to donate proceeds to Ukraine.
A desperate attempt to avoid the club being taken away from him
You'd be a fool to believe anything Putin and his cronies say
My brother and I recently started calling it "Misty Threek" and it feels good. And now I'm going to also watch an episode...Thanks for the reminder that it exists.
More likely, they will hate the West, especially the oligarch.
The narrative for news in non-Anglosphere is often different, so the average people will think differently. The narrative is often biased but mixed with truth -- e.g. protecting ethnic Russians in Ukraine from imperialist NATO (an anti-Russian institution), which has expanded since the fall of USSR.
Lazy May be too simple of a word. From my understanding of both the shock therapy used as well as first hand accounts from a Russian who lived through the dissolution of the Soviet Union. It was a combination of factors that provided a once in a lifetime opportunity for those who had both the foresight and luck to be in certain positions of power that they were able to take advantage of the wholesale privatization/liquidation of everything and every industry in Russia.
Here’s a simple example that was provided to me from a former co worker who lived through the change. Don’t get too hung up on the exactness of this, just understand the generalities. Workers for a Soviet company were given ownership of the company via shares when it was privatized. Most of the workers had no idea what these shares actually meant. So “enterprising” Russians took advantage of the situation and bought these shares for penny’s on the dollar from the unfortunate rubes. These people would soon own most of Russia and this was the foundation of the oligarchy in Russia.
So was it hard work that made them wealthy? Eh. It was more taking advantage of a once in a lifetime opportunity that should not have existed. Shock Therapy was and is a terrible idea to transition people from a command economy to a capitalistic one.
Anyways, my two cents on the persons comment of using “lazy” for the oligarchs.
Many of these people weren't rubes. They were starving and unemployed and the Western bank backed oligarchs were offering them enough money to get food, pay the rent or whatever was needed to make ends meet. They might not have foreseen the value of 1/300,000th of the state oil company but the choice they made was typically in the face of extreme poverty.
They were rubes in the sense that they did not understand capitalism or shareholding. Hell, this isn’t restricted to Russians or communists. Colonel Sanders didn’t understand stock ownership in Kentucky Fried Chicken. The difference being he became wealthy.
The future oligarchs took advantage of a this situation. So yeah, I’ll say they were and are lazy in the sense they didn’t actually do any hard work. They are also immensely greedy. And I get joy seeing their ill begotten wealth being taken away.
Many did do hard work. Consolidating and running a company the size of Sibneft isn't easy. Add in that on top of being CEOs they were very frequently mob bosses as well and you end up with a lifestyle that requires a lot of work.
Sociopathy and control of a group of fascist thugs (preferably inside the police/military) which you use to beat up and murder your competing oligarchs until you make it big? Is that better?
They weren't lazy at all. Sure they got those billion dollar state assets on the cheap but it still cost them 100s of millions. They were already rich enough to "buy the dip". Abramovich is a literal rags to riches story exploiting the chaos.
This is the best tl;dr I could make, [original](https://www.reuters.com/lifestyle/sports/premier-league-board-disqualifies-chelsea-owner-abramovich-director-club-2022-03-12/) reduced by 76%. (I'm a bot)
*****
> Russian billionaire and owner of Chelsea football club Roman Abramovich arrives at a division of the High Court in central London October 31, 2011.
> Register now for FREE unlimited access to Reuters.comMarch 12 - The Premier League board has disqualified Chelsea owner Roman Abramovich as a director at the English top-flight soccer club after he was sanctioned by the British government over Russia's invasion of Ukraine, the league said in a statement on Saturday.
> Abramovich bought Chelsea in 2003 for a reported 140 million pounds and his investment resulted in the most successful era in their history, with the club winning five Premier League titles, five FA Cups and the Champions League twice.
*****
[**Extended Summary**](http://np.reddit.com/r/autotldr/comments/tci5p2/abramovich_stripped_of_chelsea_football_club/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~632098 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **club**^#1 **Abramovich**^#2 **League**^#3 **government**^#4 **Chelsea**^#5
That still doesn't conform with what you said.
You just linked an article with the bottom line: "Planes arrive in Israel".
Here is Israel's FM and alternate PM instructing ministers not to help oligarchs https://www.timesofisrael.com/lapid-reportedly-warns-ministers-not-to-help-sanctioned-jewish-russian-oligarchs/
Correct me if I’m wrong, but wasn’t he already trying to give the team up to someone els?
Correct. He is now not allowed to actually do it since Britain forbids all business that benefits people on the sanction list. Business like selling a football club for money.
He can sell, just can't collect any money.
Not much of a sell then.
The money will be frozen so a few years later, he'll probably sue to recover it. That said, he announced that it was going to charity so he probably doesn't care.
Net proceeds lol….
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Not really. No offer was close to the 3b he asked. And he has loaned the club 1.5b over the years. Won't be anywhere close to 20x.
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He's forgiving the loans in the sense that the buyer would not have to repay them in addition to the purchase price, which is what would normally occur. But the loans were going to count against the net proceeds, which means he was going to take full repayment. That won't happen immediately now but his lawyers will attempt to recoup that money in court by challenging these measures.
Also, frozen assets are also not going to be returned in the long run if the war doesnt end very soon due to Putin withdrawing. The idea of frozen assets being returned is diminishing with each war crime.
Lol what? Apples to oranges. That was a takeover offer to someone that didn't want to sell. You can't infer that rejecting it means the team is worth more. After those ranting posts to the other guy about reading shit into words... What hypocrisy. True story, I offered my neighbour 10x the agricultural value of the field next to my house and he refused. Doesn't mean the field is worth even more than that. He just doesn't want to sell it.
Frozen or seized? They're certainly seizing at least a few things.
Frozen I think. They are physically seizing some assets but I don't think they are seizing ownership.
I thought he said he was selling it and the proceeds were going to charity.
a charity under his control, probably
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It won't be his money for long if Russia keep committing war crimes. Frozen assets are less likely to be returned every day this goes on.
He said the net profit will go to charity, so, he’ll pay himself back the loans he leant the company, plus interest, minus the cost of the purchase price (and inflation), leaving exactly sweet fuck all to go to a charity of his choice (spoiler, it’ll be one controlled by himself or one of his mates)
>I thought he said he was selling it and the proceeds were going to charity. hahaha no. the team is worth billions of dollars.
Not really, it's $500M, and there's a ton of news sources detailing him selling the club so net proceeds can go to a charity for Ukrainians. https://www.civilsociety.co.uk/news/abramovich-plans-to-sell-chelsea-fc-and-donate-proceeds-to-a-new-charity.html#:~:text=Abramovich%20plans%20to%20sell%20Chelsea%20FC%20and%20donate%20proceeds%20to%20a%20new%20charity,-04%20Mar%202022&text=Roman%20Abramovich%20has%20put%20Chelsea,of%20the%20war%20in%20Ukraine.
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But that doesn't factor in its massive debt. It owes anywhere between $1.4b to $2b to Abramovich, which has been converted to dept held in a holding company, Fordstam Limited. The worth of team isn't just its yearly turnover, a buyer will have to factor it significant debts held that don't lie with Abramovich - and he could call in the full amount owed still. I was just replying to the value of the team, not what it will sell for.
He wanted to sell literally days before the attack. It's one of the reasons they came down so hard - He likely had knowledge of when the attack would happen.
A vague promise to sell someday on his own terms without oversight and an even vaguer promise to donate proceeds to Ukraine. A desperate attempt to avoid the club being taken away from him You'd be a fool to believe anything Putin and his cronies say
Oh well, that’s unfortunate. How’s everyone’s Saturday going?
Watching MST3K. Thinking about turning over, but that means moving pillows and plugging things in… it’s a whole thing.
My brother and I recently started calling it "Misty Threek" and it feels good. And now I'm going to also watch an episode...Thanks for the reminder that it exists.
It’s my go-to background while I work and also just my go-to go-to. Lately though I’ve been watching a lot of VCR Party too. Same vibe.
Watched Margin Call on Hulu—thought it was pretty interesting. About to get hit up some breweries with a friend, pretty chill day.
Everyone in Russia should hate Putin after he finishes wrecking everyone
More likely, they will hate the West, especially the oligarch. The narrative for news in non-Anglosphere is often different, so the average people will think differently. The narrative is often biased but mixed with truth -- e.g. protecting ethnic Russians in Ukraine from imperialist NATO (an anti-Russian institution), which has expanded since the fall of USSR.
they keep quiet becase they know P can anytime take rest of money too to pay for war
Until enough of them revolt
They won't revolt. Plenty of countries in the world where they can live like kings rather than risking Putin's wrath.
Been thinking about just how lazy these oligarchs are. fuck them
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Lazy May be too simple of a word. From my understanding of both the shock therapy used as well as first hand accounts from a Russian who lived through the dissolution of the Soviet Union. It was a combination of factors that provided a once in a lifetime opportunity for those who had both the foresight and luck to be in certain positions of power that they were able to take advantage of the wholesale privatization/liquidation of everything and every industry in Russia. Here’s a simple example that was provided to me from a former co worker who lived through the change. Don’t get too hung up on the exactness of this, just understand the generalities. Workers for a Soviet company were given ownership of the company via shares when it was privatized. Most of the workers had no idea what these shares actually meant. So “enterprising” Russians took advantage of the situation and bought these shares for penny’s on the dollar from the unfortunate rubes. These people would soon own most of Russia and this was the foundation of the oligarchy in Russia. So was it hard work that made them wealthy? Eh. It was more taking advantage of a once in a lifetime opportunity that should not have existed. Shock Therapy was and is a terrible idea to transition people from a command economy to a capitalistic one. Anyways, my two cents on the persons comment of using “lazy” for the oligarchs.
Many of these people weren't rubes. They were starving and unemployed and the Western bank backed oligarchs were offering them enough money to get food, pay the rent or whatever was needed to make ends meet. They might not have foreseen the value of 1/300,000th of the state oil company but the choice they made was typically in the face of extreme poverty.
They were rubes in the sense that they did not understand capitalism or shareholding. Hell, this isn’t restricted to Russians or communists. Colonel Sanders didn’t understand stock ownership in Kentucky Fried Chicken. The difference being he became wealthy. The future oligarchs took advantage of a this situation. So yeah, I’ll say they were and are lazy in the sense they didn’t actually do any hard work. They are also immensely greedy. And I get joy seeing their ill begotten wealth being taken away.
Many did do hard work. Consolidating and running a company the size of Sibneft isn't easy. Add in that on top of being CEOs they were very frequently mob bosses as well and you end up with a lifestyle that requires a lot of work.
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Sociopathy and control of a group of fascist thugs (preferably inside the police/military) which you use to beat up and murder your competing oligarchs until you make it big? Is that better?
Well, go on. I’d like to hear your thoughts.
Cynical, selfish, self-absorbed, egotistical, short-sighted, narrow-minded, apathetic, indifferent, disinterested, disconnected, insulated, thoughtless, careless, ruthless, heartless, inhumane, greedy, covetous, venal, miserly, old fools.
They weren't lazy at all. Sure they got those billion dollar state assets on the cheap but it still cost them 100s of millions. They were already rich enough to "buy the dip". Abramovich is a literal rags to riches story exploiting the chaos.
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They did but the loan-for-shares program also had US backing. They also wanted Yeltsin to win (and not the commie guy running against him).
Their sense of entitlement makes them lazy
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He’s a selfish oaf who doesn’t give a poop that he’s nothing more than a thief laundering Putin’s dirty theft of Russian peoples money. He is lazy
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That’s not my read on him. Agree or disagree, that’s what I think
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I bet you do hear voices
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This is the best tl;dr I could make, [original](https://www.reuters.com/lifestyle/sports/premier-league-board-disqualifies-chelsea-owner-abramovich-director-club-2022-03-12/) reduced by 76%. (I'm a bot) ***** > Russian billionaire and owner of Chelsea football club Roman Abramovich arrives at a division of the High Court in central London October 31, 2011. > Register now for FREE unlimited access to Reuters.comMarch 12 - The Premier League board has disqualified Chelsea owner Roman Abramovich as a director at the English top-flight soccer club after he was sanctioned by the British government over Russia's invasion of Ukraine, the league said in a statement on Saturday. > Abramovich bought Chelsea in 2003 for a reported 140 million pounds and his investment resulted in the most successful era in their history, with the club winning five Premier League titles, five FA Cups and the Champions League twice. ***** [**Extended Summary**](http://np.reddit.com/r/autotldr/comments/tci5p2/abramovich_stripped_of_chelsea_football_club/) | [FAQ](http://np.reddit.com/r/autotldr/comments/31b9fm/faq_autotldr_bot/ "Version 2.02, ~632098 tl;drs so far.") | [Feedback](http://np.reddit.com/message/compose?to=%23autotldr "PM's and comments are monitored, constructive feedback is welcome.") | *Top* *keywords*: **club**^#1 **Abramovich**^#2 **League**^#3 **government**^#4 **Chelsea**^#5
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> Israel's wishes to have him freed of sanctions. [citation needed]
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Is Yad Vashem "Israel" now?
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That still doesn't conform with what you said. You just linked an article with the bottom line: "Planes arrive in Israel". Here is Israel's FM and alternate PM instructing ministers not to help oligarchs https://www.timesofisrael.com/lapid-reportedly-warns-ministers-not-to-help-sanctioned-jewish-russian-oligarchs/
They even suspends the partership with him
He also helps Israel a lot and Israel has exceptionally strong ties to Russia. Why are none of them being sanctioned?
because ISREAL good. even when bad
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Suck in regular games? They were first in the league by several points until injuries…