FEARS arise as Chelsea takeover may fail after latest Roman Abramovich’s request on Chelsea sale
THERE ARE RISKS THAT THE CHELSEA TAKEOVER WILL FAIL, owing to reports that Roman Abramovich wants to collect £1.6 billion in loans.
The British government has sanctioned the Russian oligarch for his ties to Russia during the conflict in Ukraine.
The London club narrowed down prospective new owners to three before Sir Jim Ratcliffe, one of Britain’s wealthiest men, threw his hat into the ring.
Todd Boehly of the Los Angeles Dodgers, on the other hand, appeared to be on his way to acquiring the Premier League powerhouse.
Within two hours, it was revealed that Boehly’s group, which includes Switzerland’s richest man, Hansjorg Wyss, and former Chancellor George Osborne, had already been granted preferential treatment.
The other two consortiums, one led by former Liverpool chairman Sir Martin Broughton and backed by Lewis Hamilton and Lord Seb Coe, and the other led by Boston Celtics and Atalanta part-owner Stephen Pagliuca, were told they were out of the running.
However, Boehly’s team was told they would have a “period of exclusivity” to discuss the exact terms and conditions of a takeover package.
But, according to The New York Times, there could be a major stumbling block.
According to reports, Abramovich is “trying to break his agreement to write off a £1.6 billion debt.”
Despite the fact that the 55-year-old said he would not ask for any loans to be repaid when he put the club up for sale, this has happened.
However, If an agreement with Boehly is reached, it must still be approved by the Premier League, with all parties subject to the owners and directors test, which is expected to take at least 10 days.
After Abramovich and his assets, including the club, were placed on the UK sanctions list, the final sign-off will have to come from the government.
The Russian loans, on the other hand, might make things considerably more complicated for the negotiators.