Premier League - Chelsea: Crisis not our fault

Eurosport - Thu, 09 Oct 10:25:00 2008

Chelsea have insisted their financial well-being is assured under Roman Abramovich's ownership - but UEFA have warned that any clubs overburdened with debt could face exclusion from the Champions League.

2008-2009 Chelsea Ashley Cole - 0

UEFA general secretary David Taylor has revealed European football's governing body will aim to find fresh ways to address the number of clubs who are succeeding on borrowed money.

The funds Abramovich has loaned Chelsea have allowed the London club to grow into European giants, and chairman Bruce Buck is confident the debt to the owner will be available for years to come.

Speaking to the BBC, Buck said: "We're very comfortable with the debt we have from Roman Abramovich in terms of its viability, its importance and its long-term availability."

UEFA are expected to focus on clubs who are struggling under the weight of debts which require servicing, and they are to undertake a radical review of their own club licensing system.

Taylor said: "This is an attempt to find greater financial stability, especially at a time when banks are failing.

"Governments might bail out banks but they are not going to bail out a football club."

He explained: "We will not flinch if we have to exclude clubs from Europe's elite competition."

Former Scottish FA chief executive Taylor said: "We cannot let things stay as they are. There would be forms of communication, even warnings, even reprimands before one would ever get to a situation of exclusion but it's absolutely possible.

"It won't happen overnight or even next season but it is the ultimate sanction."

Taylor insisted UEFA wanted to promote "financial fair play" and that the time had come for action.

Football Association chairman Lord Triesman suggested on Tuesday that a salary cap may be worth considering in England given the financial pressures some clubs are under.

And Liverpool defender Jamie Carragher insists everything must be done to protect troubled clubs - even if it means a restriction on wage levels.

Speaking to Sky Sports, Carragher said: "If bringing a wage cap in is going to stop teams going bust, then I'm sure it's got to happen.

"The most important thing is the football club."

Crystal Palace chairman Simon Jordan does not expect investment in football clubs to go out of fashion during the current credit crunch.

Jordan told the BBC: "The economics of football are always based upon success.

"There are people buying football clubs for a number of reasons: some people buy them because they can and they want to; some people buy them because it gives them credibility; some people buy them because they want to be associated with a good British asset; some people buy them as a very expensive life insurance policy.

"But there are many reasons why many wealthy people are pouring money into football clubs."

However former FA executive director David Davies believes Lord Triesman's concerns about the financial health of the domestic game may prove to be more accurate than Jordan's perception.

"I believe Lord Triesman will prove Simon wrong," said Davies.

"He (Triesman) is a shrewd guy."

Davies also delivered a warning regarding ownership, saying: "The moment we get worried about these foreign owners, and we say 'We don't really want you', they may just take us at our word."

Sporting Life / Eurosport

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  1. loxy @#$% u @#$% ur mother @#$% ur father @#$% every one in ur family @#$% arsenal and @#$% all arsenal fans '@#$% hole

    From nasir, on Fri 10 Oct 10:55PM

  2. As I see it there are two options: either 1) apply a salary cap, or 2) let market forces determine the outcome. Either way this outcome will be the same. Things will come crashing down soon because no business can continue racking up debt like there's no tomorrow. Most Premiership clubs are being managed irresponsibly (even illegally?), chasing each other to the clifftop like lemmings. It's time for some tough medicine now. The UK has been leading the world in overpaying players for too long - that's why we've attracted so many foreign players to the Premier League. So what if they go overseas? There's only 11 in a team and they can't all play for Real Madrid. Ronaldo leaves Man U for Madrid, making the player he displaces available and more affordable.

    From Peter, on Fri 10 Oct 2:43AM

  3. chelsea rule. end of.

    From robbo, on Fri 10 Oct 1:40AM

  4. By the way Suzi I am not a Chelsea fan but I do like seeing English clubs in the CL so why are you scared of the competition. I would guess that you are a Man u fan

    From Sadoldgit, on Thu 9 Oct 11:02PM

  5. Chelsea is owned by Abramavitch, the loan is probably a technicalaty and could no doubt be written out if necessarry unlike many other clubs. So be careful about this proposal as many football teams could go down if it is implemented and it wouldn't suprise me if Chelsea were to survive the proposed change unscaved, Unlike Utd Arsenal and Liverpool and others. Man city would probably also survive as they are now soundly backed.

    From Sadoldgit, on Thu 9 Oct 11:00PM

  6. ha ha ha the only team that is in huge debt which is getting bigger all the time is man-u but they wont b kicked out because they also bring the most money into peoples pockets so just another silly thing that has been said in football ha ha ha its all a joke

    From clinton, on Thu 9 Oct 7:56PM

  7. hope chavski are booted out CL

    From Suzy, on Thu 9 Oct 7:23PM

  8. I HOPE PEOPLE DO NOT LOOSE WHAT BUSINESS MEAN TO EVERYONE? WHEN YOU INVEST YOU WANT TO MAKE MONEY, CHELSEA IS AN INVESTMENT OF ABROMAVICH AND LET ALONE HIS MONEY, PERSONAL AND FINANCIAL ADVISERS. AS A CHELSEA SUPPORTER HE BOUGHT THIS CLUB FROM SOME BRITISH BROKE/WHATEVER AND IMPROVED IT TO WHAT IT IS, SO THE FACT OF GOING BUST IS HIS PROBLEM. WHAT ABOUT MANU, LIVEPOOL, MANCITY, ETC

    BLATTER, PLATIN ARE ALL EMPLOYEES THEY FEED FROM THESE CLUBS, HENCE SOME SECRETARIES ARE CRYING FOUL. SHUT UP AND CHEER YOUR TEAMS. CHELSEA 4 EVER

    From athanas, on Thu 9 Oct 5:06PM

  9. chelsea is deeply indepted. I think its high time the club is blotted out of EUFA Champions League. Chelsea folk. Arsenal for Life.

    From Luxy, on Thu 9 Oct 4:15PM

  10. A salary cap works, just look at the NHL here in N America. I agree that they should have been looking into this years ago. I'm a Chelsea fan (have been for ages), but I honestly would love to see a more even playing field in the PL. That way every weekend you really will have no idea who will win. It's just too predictable these days. Seriously, how intense would it be knowing 20 teams truly are fighting for the PL Championship?

    From nealsutton34, on Thu 9 Oct 2:54PM

  11. F Y I Roman abramovich cannot sell Stamford Bridge. He doesn't have the power. At least not yet.

    From uche06, on Thu 9 Oct 2:42PM

  12. Why is it always England and English sides UEFA has a big problem with... there is no mention of AC Millan, Inter, Real Madrid, Barcelona or any other club gunna be banned for being in debt then there will be no champions league... UEFA what a bunch of idiots whats next a ban for no English managers or not enough home talent..

    From nickthompson39, on Thu 9 Oct 2:10PM

  13. Doesnt this all relate to the fact UEFA/FIFA dont want English clubs dominating champs league, therefore banning them is the only possibility. Didnt this happen in the 1980's, just as the English clubs were getting on top??!!

    Not sure if i agree with Kim's comments, although if that picture is her she looks fit

    From andy5powell, on Thu 9 Oct 2:09PM

  14. platina/blatter just unhappy they are small fry in the football world and they are looking to be the big cheeses.
    platini played abroad...who is he to talk.

    to restrict trade on basis of nationality...surely thats racist?

    i dont care what colour or nationality my centre forward is,as long as he bangs in the goals.
    did you care when he was irish?
    what's the difference?

    as regards debt,its choice when clubs such as marseille,real madrid,barcelona have been at it for years with real debts,not guarenteed debts.
    yes there is a risk,but would man utd,chelsea etc not go to the shieks for a higher price than the debt? i think so.
    so their value is higher than the debt,therefore viable.

    From geordieprince1, on Thu 9 Oct 1:56PM

  15. does that mean real madrid are f**ked?

    From andy5powell, on Thu 9 Oct 1:49PM

  16. Maybe the person who sent post 6 has insider knowledge? or is just another cash mad blues fan...lol...smug post in either case...as for Abramovich being unlikely to ever walk away, well that depends...what does the guy who has everything money can buy do, when he bores of his latest toy? cos realistically thats what Chelski are , along with all the billionaire investors in the ~PL~...they don't really give a damn, they just have money to 'burn' literally, and 'buy' things and people just cos they can .

    From kpb, on Thu 9 Oct 12:43PM

  17. @ #6 Man Utd is no longer a PLC. It's owned by the Glazers... what's your point?

    Oh Abramovich has no "t".. and if he's a shrewd businessman then your statement

    "Sure he could walk away at any time, and sure he could just close the whole shabang down, but it's unlikely to happen where it would adversely affect Chelsea significantly."

    means nothing. He could sell his stadium to a car park operator or supermarket conglomerate whenever he feels like it.

    Then again... Old Trafford could go the same way. These people care less about the fans than they do about football.

    I have to agree with Platini (never thought I'd ever write that) even though United are still looking good financially.

    From Rob C, on Thu 9 Oct 12:22PM

  18. i think that the FA are a bunch of idiots the wage cap should have been used as a prevention of the clubs being affected by the credit crunch instead of using it now as a recovery if so many footballers stopped being as greedy as they are now a lot of money would be left available for the club in case of entering financial difficulty

    From jcashin5331, on Thu 9 Oct 11:56AM

  19. I think there should be a cap on how much a Football spends each year, rather than salary capping players. This was cubs will have to think twice who they buy and how many players they buy..... all in it will have positive and negative trade offs - but that least clubs can compete more fairly.

    Also i feel that the ideas that some people come up with in football is quite racist. I mean limiting foreign players in the EPL to protect the National team? its like saying you can only employ 2 foreign people in Tesco and the rest must be English.

    And the fact that foreign people should not be able invest in English clubs is assured! its ok to sell tops and tv rights to them but they cant invest? Our whole country is encourages foreign investment, so why should football be any different?

    And PLATINI is a joke... who is he? rent a quote Pele?

    From smokemonkey, on Thu 9 Oct 11:40AM

  20. so the fa is so concerned about the debt the so called big clubs have then when a smaller club ie luton rotherum have trouble with cash flow they make there lives harder by making these teams start on minus points basucally doing everything in there power to force these clubs out of existance and relegate them further down the leauges

    From gazhare, on Thu 9 Oct 11:35AM
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