by Mr Angry »
11 Mar 2022 12:01
Stranded Mr Angry No, Companies in this situation aren't allowed to trade at all. As mentioned yesterday, Chelsea have been granted a Special Licence to do so.
So Chelsea fans should be grateful they were even able to have a game last night.
Reports this morning that the club apparently have enough cash for 17 days.
I suspect that the DCMS will quickly grant an amend to the Special Licence to allow the club to be sold; obviously, it isn't going to go for £4Bn or anything like that. Basically, they are in a fire sale situation now, and anyone offering £2Bn will have their hands snapped off (the money will go into a special account and will be frozen, and may even be used to help finance rebuilding in Ukraine once hostilities have ceased), because the alternative is quite simple - the club will go out of business.
As the Government calls the shots, this is actually a great opportunity for them to insist that any prospective buyer of Chelsea grants fans a "golden share" in the club; it will be interesting to see if Dorries does that.......
Chelsea fans are about to find out how much does RA really loves Chelsea FC, because he is not going to see a penny of any funds raised in its sale and if he delays the sale to try and argue this with HMG, or if he says "sod it, I'll not bother" the club will go under.