Even though I was a Chelsea fan, I didn't appreciate in 2003 that Chelsea was in particular financial difficulty. So it was an eye-opener for me when we were doing due diligence to see what the financial situation was. Bruce Buck
Motivational, Inspirational, Funny Quotes
![[Buck reveals the club was sinking in a quagmire of debt.] I personally was surprised, ... They had a ã75m Eurobond outstanding and it was perfectly clear to the markets that they might have trouble making the July payment. [The then chief executive] Trevor Birch had been in discussions for some time about restructuring that bond. The financial community as opposed to the football community knew there were some real issues. - Bruce Buck Quotes](/pic/img/img.php?text=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&author=ICBCcnVjZSBCdWNrICAgIA==&num=12 "[Buck reveals the club was sinking in a quagmire of debt.] I personally was surprised, ... They had a ã75m Eurobond outstanding and it was perfectly clear to the markets that they might have trouble making the July payment. [The then chief executive] Trevor Birch had been in discussions for some time about restructuring that bond. The financial community as opposed to the football community knew there were some real issues. - Bruce Buck Quotes")
![[During July 2003, Abramovich paid a 15p-per-share premium on the trading price of a fortnight previously. Even the ã17m this netted Ken Bates was initially insufficient for the then chairman.] I'm told he said he wanted more money, ... and Trevor said, 'Don't be ridiculous, this is more than you could have imagined'. - Bruce Buck Quotes](/pic/img/img.php?text=W0R1cmluZyBKdWx5IDIwMDMsIEFicmFtb3ZpY2ggcGFpZCBhIDE1cC1wZXItc2hhcmUgcHJlbWl1bSBvbiB0aGUgdHJhZGluZyBwcmljZSBvZiBhIGZvcnRuaWdodCBwcmV2aW91c2x5LiBFdmVuIHRoZSDDg8KCw4LCozE3bSB0aGlzIG5ldHRlZCBLZW4gQmF0ZXMgd2FzIGluaXRpYWxseSBpbnN1ZmZpY2llbnQgZm9yIHRoZSB0aGVuIGNoYWlybWFuLl0gSSdtIHRvbGQgaGUgc2FpZCBoZSB3YW50ZWQgbW9yZSBtb25leSwgLi4uIGFuZCBUcmV2b3Igc2FpZCwgJ0Rvbid0IGJlIHJpZGljdWxvdXMsIHRoaXMgaXMgbW9yZSB0aGFuIHlvdSBjb3VsZCBoYXZlIGltYWdpbmVkJy4g&author=ICBCcnVjZSBCdWNrICAgIA==&num=5 "[During July 2003, Abramovich paid a 15p-per-share premium on the trading price of a fortnight previously. Even the ã17m this netted Ken Bates was initially insufficient for the then chairman.] I'm told he said he wanted more money, ... and Trevor said, 'Don't be ridiculous, this is more than you could have imagined'. - Bruce Buck Quotes")
