Dylan Bettencourt
It’s only been a week since an agreement was reached with the Todd Boehly consortium, but that deal is now at risk of collapsing.
The British government has raised concerns that the deal could fall through because former owner Roman Abramovich refuses to agree to the new sale structure.
The government is determined to ensure that none of the £4.25 billion goes to Abramovich, after he was sanctioned for his role in Russia’s invasion of Ukraine.
Chelsea is currently operating on a special licence that is set to expire at the end of May. The club requires government approval before the Boehly consortium deal can go through.
However, a £1.6 billion loan from Abramovich to the club has resulted in the takeover deal being delayed.
The British government proposed that £2.5 billion of the purchase amount goes into a third-party account and is kept there before being transferred to the ultimate party. It will stay there until the government agrees the money will go to victims of the Ukraine conflict, as Abramovich suggested.
Despite Abramovich insisting that the charitable organisation, into which the takeover money will go, is run by the United Nations and has no links to him, the British government wishes to choose the charity themselves.
Todd Boehly, however, remains the favourite to take over the London club by the end of the month. The American has attended several of the club’s recent matches and even visited the training ground to meet the staff and players of both the male and female teams.
Chelsea was guaranteed Uefa Champions League football on Monday night as Arsenal slumped to a 2-0 defeat to Newcastle.
Image source: @LeighJournal
