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Originally Posted by JPhillips
Roman Abramovich transferred control of Chelsea to the charitable foundation. He must fear having the team taken away by the UK government.
Do it.
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Quote:
Originally Posted by cuervo72
Is that like the "charitable foundations" that "own" all the Waltons' art?
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Pretty much. CFC is still owned by a company called "Fordstam" which is controlled by Abramovich. Further, Fordstam gets most of its funding from another company based in the British Virgin Islands, from where ownership gets a bit convoluted.
All this announcement means is that he's handing over day-to-day control, but given that Bruce Buck is chairman of both CFC & the CFC Foundation, that doesn't mean a lot.
It definitely feels like a defensive move to blunt calls for the government to step in. Not that I'd expect the Tories to ever do this. I mean
I think they should nationalize all the clubs owned by sovereign wealth funds from regimes with human rights abuses and oligarchs whose wealth has dubious provenance (and also the Glazers, just because), but I'm not PM.
Quote:
Originally Posted by Solecismic
Renewables have their place, but we don't have the advances in battery storage necessary to rely on them right now. Doesn't mean we stop trying, but the cost of insecure energy, well, it means that terrible people like Putin have a lot more power than they should have.
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Not a word on the thousands of drilling leases already granted by the U.S. goverment to oil companies that lie unused while the price of petroleum climbs? The U.S. could supply Europe with most of its energy needs if those
already granted rights were in use.
Let's hear both sides of the conversation, Jim.