Announcement soon? as Abramovich and UK government finally ‘reached this legal agreement’ to push through Chelsea takeover in coming days
According to METRO, Roman Abramovich and the UK government have reached an agreement on a ‘legal resolution’ that should see Chelsea sold before the end of the month, despite concerns about what would happen to the £1.6 billion given to the club by the Russian.
Though the government was concerned of a potential attempt to ‘divert’ the funds, the billionaire has vowed to effectively write off the debt and donate all revenues to victims of the war in Ukraine.
According to reports, Abramovich has requested that the £1.6 billion debt be paid in full before being frozen and transferred to his new charity foundation.
‘Two key sticking points remain – where exactly the proceeds of the sale will be housed, and what legal guarantees government will be provided about the money going to good causes,’ a Whitehall insider told the BBC.
Those fears appear to have been allayed, with PA News claiming that Abramovich and the government have reached a legally binding agreement that will now see the club sold.
The sides have reached ‘common ground’ on how to manage the £1.6 billion debt owed to the Chelsea owner, which will prevent him from breaking his vow to distribute the money to Ukrainian war victims.
Now, According to reports, Abramovich and his attorneys are now convinced that their plans will be granted, allowing the west London club to be sold before the May 31 deadline.
Before the government gives a new operating license to permit the sale, the Premier League must give final approval to Todd Boehly’s group to take control the club — with the American and his fellow investors expected to pass the numerous owners and directors requirements.
With barely two weeks to the deadline, Abramovich’s agreement with the government will be a huge relief for Chelsea, Boehly’s consortium, and fans, as the uncertainty has had a significant impact on the club.
‘I don’t think there’s any sense in hiding from the fact that it is a distraction,’ said manager Thomas Tuchel earlier this month. ‘It’s a question of to which level we can still live up to even if we are distracted, worried or disadvantaged by it.
‘We’re the only club at the moment who suffers like this and maybe the first club who ever did this. It’s a situation that’s unique and quite challenging. Of course, everyone wants it to be clarified.’