The sale of Chelsea is going down the drain if we are to believe information from Sky Sports. If the consortium led by American businessman Todd Boehly still holds the rope among the various potential buyers, the British government may not authorize the sale. The reason ? The government have reportedly been made aware of Abramovich’s attempts to alter the original deal in a bid to recoup £1.5bn (around €1.78bn) he loaned the club through his company, Fordstam Limited.
However, Abramovich, who put Chelsea up for sale following the outbreak of the war in Ukraine and the sanctions put in place by the British government once morest the Russian oligarchs, had pledged that he would not claim reimbursement. of his loans to the club and that all proceeds from the sale would be donated to a charitable foundation helping victims of the war in Ukraine. Following this commitment, the British government had granted a special license to Chelsea so that the sale of the club might take place. This would not have been granted to the club if the proceeds from this sale (or at least part of it) went to Abramovich. Because, like many Russian oligarchs, he cannot do business in the UK. He therefore cannot make money from the sale of the club, which he had pledged to do in order for the government to grant the special license to Chelsea.
This special government license, granted to Chelsea, expires on May 31. If this is not extended or the club is not sold by then, the club might therefore be put into bankruptcy. And if Abramovich’s attempts to recoup £1.5billion are verified, that license is unlikely to be extended given the sanctions imposed on the Russian billionaire.
On the other hand, Abramovich retains the final say in the sale of the club and therefore might ultimately refuse any deal. As a businessman, the Russian probably takes a dim view of the sale of his club for 2.5 billion pounds sterling without being able to touch a penny. Likewise with the £1.5 billion injected into the club which would therefore not be returned to them.
The dilemma is therefore great for the British government which wants on the one hand to stick to the sanctions established with regard to the Russian oligarchs but which, in doing so, might sink one of the biggest European clubs. And as Sky Sports writes, this status quo does not suit the club. More than ever, the clock is ticking and Blues fans are keeping their fingers crossed. The Premier League meets on June 8 to lay the foundations for the next season. By this date, Chelsea will have to have their license in their pocket to still be able to play in the English top flight next season.
What regarding Ratcliffe’s XXL offer?
Jim Ratcliffe, Ineos boss and owner of OGC Nice has made a £4.25billion bid to buy the west London club. However, according to information from Sky Sports, it is the offer of LA Dodgers owner Todd Boehly who is still considered preferential. This stems from the fact that Ratcliffe, whose offer came late compared to the other three, did not commit to the Raine Group, an investment bank appointed by Abramovich to conduct the sale. This makes his offer difficult to consider at the moment even if Ratcliffe has confirmed himself that he is a candidate to take over the club.