Revealed: Why Premier League clubs are afraid of Incoming Chelsea’s new ownership as Raine Group set to make decision
19-and-a-half-years later, Chelsea is being valued at over £2 billion. This comes after Abramovich’s massive investment at the club over the years.
Meanwhile, the Russian had said that he’d forgo the £1.5billion personal debt the club owes him.
Anyone buying Chelsea at the moment is buying a club without debt, which has made Chelsea an even more irresistible club among potential buyers.
However, some Premier League owners are afraid of this move.
Some Premier League clubs believe Chelsea’s new owner will gain a ‘competitive advantage’ over their rivals from Roman Abramovich wiping £1.5billion of debt.
Top flight clubs met on Wednesday to discuss the issue, as they deliberated whether Abramovich’s promise to wipe the club’s debt would hand Chelsea a ‘competitive advantage’.
According to the Telegraph, Buck did his best to reassure rival executives that the benefits of being able to sell a debt-free Chelsea ‘far outweighed’ any downsides, as proceeds from the sale would go to charity.
American bank The Raine Group are overseeing the sale and are about closing bids for Chelsea, with a deadline set for this Friday.