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No need for panic at Chelsea

A certain amount of nonsense is being talked about the future of Chelsea in the context of the Russian invasion of Ukraine.   Chris Bryant MP has stated that the government should take the club over, but the government has enough sense not to want to run a football club, or indeed upset Chelsea's many fans.

Roman Abramovich is owed £1.5 billion by Chelsea and could call the loan in if his assets were threatened.  Chelsea is technically owned by Fordstam, a company set up by Abramovich that has underwritten the club's losses.

Should Abramovich relinquish ownership, there would be no shortage of buyers.  The club is broadly breaking even in its day-to-day operations.   Redevelopment or replacement of Stamford Bridge would enhance its long-term potential.

Potential purchasers include Sir Jim Ratcliffe, the chairman of chemical group Ineos.  He inquired previously after buying the club, but was deterred by the price tag.

Bloomberg has suggested that American buyers might be interested.

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