Chelsea’s sale ‘hits a serious snag’ over fears Roman Abramovich is going back on his promise to write off the club’s £1.6bn debt… leaving the government ‘concerned about their ability to play next season’ if a deal isn’t done soon
Chelsea FC’s sale has hit a serious snag over fears current owner Roman Abramovich could reportedly go back on his pledge to write off £1.6bn of debt.
The news comes with Britain’s richest man Sir Jim Ratcliffe still holding out hope of owning the Blues after submitting a £4.25bn bid on Friday – but American investor Todd Boehly remains in pole position.
Yet a new report in The Times details that the club are understood to have told the government and all bidding groups that they want to restructure the selling process, including paying off the debt from the club’s parent company Fordstam Ltd to a Jersey-based company – Camberley International Investments – linked to the sanctioned Russian oligarch.
Abramovich, who told of his intention to sell just days before being sanctioned by the UK government for his ties to Russia president Vladimir Putin, said he would ‘not be asking for any loans to be repaid.’
Yet he is now claiming, according to The Times, that the sanctions prevent him from writing off the debt, a claim which would be challenged by the government.
Sources from rival bid groups, not that of preferred bidder Todd Boehly, said that they were informed the loan needed to be repaid on the sale of the club just ‘days’ before their final offers.
It adds that the government are ‘concerned about Chelsea’s ability to compete next season if a deal isn’t done in time to safeguard the club’s future,’ with the news potentially delaying the entire process.
More to follow…
Chelsea’s sale has hit a serious snag over fears current owner Roman Abramovich could reportedly go back on his pledge to write off £1.6bn of debt
The government are ‘concerned about Chelsea’s ability to compete next season if a deal isn’t done in time to safeguard the club’s future’
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