This is a discussion on Roman Abramovich loses £12bn! within the European Sports forums, part of the Sports Forums category; ...
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Roman Abramovich has lost £12 billion on the Russian stock exchange, it was revealed today.
The owner of Chelsea FC has seen his fortune dwindle as Russia's Micex Index has gone into freefall.
The decline in value of two of his companies on the Moscow-based index, steel maker Evraz and mining company Highland Gold, has left the 41 year-old tycoon $20.3 billion (£11.9 billion) out of pocket.
The staggering loss was revealed today by analysts who said it represented a decline in the equity value of traded companies.
Abramovich's woes come on a disastrous financial day for London's Premiership football clubs with the owners of Arsenal and West Ham also suffering.
Arsenal FC share holder Alisher Usmanov has lost £7 billion ($11.7 billion) on the Micex index which has declined 61 percent since its peak in May and was closed today for the second time this week.
The metals and mining mogul and Abramovich are part of a list of 25 Russian oligarch's who have lost £140 billion ($238 billion) on the Micex index.
The country's ailing economy has also been hit by war with Georgia and foreign capitalists withdrawing billions of pounds worth of investment from a nation facing a period of instability.
West Ham were plunged further into crisis as it was revealed that the east London club's Icelandic owner Bjorgolfur Gudmundsson is considering selling the club after losing £230 million in the country's own economic crash.
Abramovich's unprecedented loss will set alarm bells ringing in the football world and the City.
It comes after Chelsea chairman, Bruce Buck suggested this week that the club could sell players to survive the financial turmoil.
He said: Even with a benefactor like Roman Abramovich, if we think revenues are going to go down a bit we have to look at our expense side to look for areas where it is appropriate for us to save money. That's actually a process we are engaged with at the moment.
I have said all along that if Abramovich leaves Chelsea for whatever reason they are royally screwed. It's looking like they may have to sell a fair bit before they can buy anyone else. Dibs on Essien To view links or images in this forum your post count must be 20 or greater. You currently have 0 posts.
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I have said all along that if Abramovich leaves Chelsea for whatever reason they are royally screwed.
Not really.
Chelsea are now a powerfull team, in recent years they have won 2 Premierships and got to a Champions League final(as well as a bunch of semi finals). Im sure that if Roman was going to sell they would be no shortage of takers from big money men.
Chelsea are now a powerfull team, in recent years they have won 2 Premierships and got to a Champions League final(as well as a bunch of semi finals). Im sure that if Roman was going to sell they would be no shortage of takers from big money men.
When the Big Money men as you put it are losing this much money, i think buying a football club would be near the bottom of their list of priorities. Just look at the trouble Ashley is having selling Newcastle for a lot less than Chelsea would cost.
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Exactly like Chelsea before Abramovich came along.
When Abramovich took over Chelsea they had qualified for the Champions League, and in the few years before won a couple of FA Cups, a League Cup and a Cup Winners Cup. Also Chelsea are in London, London attracts managers and players the North East doesnt have that sort of reputation.
When the Big Money men as you put it are losing this much money, i think buying a football club would be near the bottom of their list of priorities. Just look at the trouble Ashley is having selling Newcastle for a lot less than Chelsea would cost.
The main problem Ashley has with selling Newcastle, is that the fans have so much power up there. If they don't like it, then the manager/owner/chairman can't do it. It's just unatractive to any manager or owner.
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