Chelsea sale in doubt due to Roman Abramovich demand
The sale of Chelsea is in major doubt over fears that Roman Abramovich could insist on his loan is repaid.
According to the English press, Roman Abramovich is attempting to renege on his promise to write off his £1.6bn loans to the club which could jeopardize the entire sale process because the British government will not allow the sale to go through if Roman Abramovich receives any of the proceeds.
Abramovich has promised he would not be asking for his loans to the club to be repaid and all the proceeds would go to a charitable foundation for "all the victims of the war in Ukraine”.
The British government imposed sanctions on Abramovich, claiming to have proved his links to Russian president Vladimir Putin.
Since then, Chelsea is operating under a special Government license. Chelsea’s sale needs to be completed by May 31, when the Government’s special license expires. Chelsea is facing the prospect of going out of business unless the club is sold or the license is extended by the government.
The sale of Chelsea is being conducted by the Raine Group, and Abramovich will have the final say on who buys the club. At the moment the consortium led by US businessman Todd Boehly is the preferred bidder to buy Chelsea.
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