We back! UK government finally gives green light to Chelsea sale despite Roman Abramovich’s sanctions
According to latest reports reaching us this evening, The UK government has finally given the green light for Chelsea to be sold as the sale process is set to resume despite Roman Abramovich being sanctioned.
This comes after Raine Group, the merchant bank appointed by Abramovich for the sale initially, have contacted interested parties to state that the sale process ‘on pause’.
As per the Athletic, the government have now given the green light for the sale of the Club to resume.
The report states that the Athletic understands, that discussions have been held between the government and Raine, the US bank handling the sale of Chelsea, and the process is to resume as it was before Abramovich was sanctioned.
It is also strongly believed there is confidence a deal could be agreed within the next four to six weeks, with several credible interested parties.
However, there have not yet been any formal bids made to buy the club from Abramovich.
Raine also intend to apply for a second licence once it has chosen their preferred bidder, allowing a sale to take place.
It was earlier reported that Chelsea can still be sold if Abramovich is willing to allow the government to take over the sale process, however now it appears that Raine will be the ones still in control of the sale.
The UK government reportedly viewed Nick Candy and a consortium headed by Todd Boehly and Hansorj Wyss as ‘serious contenders’, however it is unclear as to whether these will be the party preferred by Raine Group.
Meanwhile, there is interest from Woody Johnson who owns the New York Jets as well as the Ricketts family, owner of the Chicago Cubs.
It remains to be seen as to who will be the next owner of the club following Abramovich but Chelsea will be keen to get a deal done swiftly.