Tag: PIK loans

The Analysis Series: Chelsea FC / BlueCo Group: Covenant architecture and technical default risk on the Ares Management facilities

Risk assessment of covenant structures, comparable breach precedents (including Eagle Football Holdings), and the probability of technical default across the 22 Holdco / BlueCo 22 capital structure Prepared by: Paul Quinn, CWTE […]

The Analysis Series: A deeper look at Chelsea’s ownership, BlueCo 22 Limited & 22 Holdco Limited (Year Ended 30 June 2025)

  Following on from my initial analysis of the Chelsea ownership, I thought a further look at the two companies, Blueco 22 Limited and its parent company 22 Holdco Limited would be […]