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Debt Free Wherever We May Be – We Are The Profitable CFC – Two Fingers Up At UEFA Fair Play

By Nov 9, 2012No Comments

The Champions of Europe have completed another long and arduous journey by reporting an annual profit for the first time since the arrival of Roman Abramovich.

The figure is small, a humble £1.4m which may not sound like much but represents a move towards sustainability and a long term future that will undoubtedly upset the UEFA fair play merchants of doom.

Remember they framed their policies to spite teams like Chelsea.

UEFA fair play is here to stay and it looks like we are on track, even better we are not saddled with any debt.

Part of the announcement today was that that Abramovich has again changed any debt owed to him into equity (i.e. he has made it part of his shares in the club).

We needed some good press coverage and this is very welcome news.

The key test will be whether this is maintained next season, with the signings of Hazard and Oscar this seems unlikely but with a new TV deal and the benefits of being Champions of Europe we have a fighting chance.

Football is all too often dominated by matters off the pitch these days, but the financial security of the club is important.

“Debt free, wherever we maybe”

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