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Chelsea FC face new questions over how Roman Abramovich funded success | Roman Abramovich
(www.theguardian.com)
this post was submitted on 15 Nov 2023
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Soccer (Closing)
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Sad for the new owners since nobody from the Roman era is still there but I guess they didn't do the necessary due diligence.
Actually, it is due to Boehly this is known. After they took over, he found these transaction and reported them.
Isn't due diligence usually done in advance of a buy? Seems kind of reckless.
Generally yes, but this sale was fast tracked, so it wasn't completely done and they kept 100m from the sale amount, anticipating these fines because of poorly kept books.