Chelsea: British government angry with Abramovich’s attitude, threat to sales process

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According to The Times, Roman Abramovich will refuse to accept the sales structure proposed by the government to acquire Chelsea. Contrary to their public claims, the oligarch would not want to erase the 1.8 billion euro debt that the Blues owed them. That’s enough to threaten a takeover of the club by a Todd Boehly-led union.

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Chelsea were hoping to close the case this week. But the London club will probably have to wait. According to The Times, Roman Abramovich would refuse to accept the sales structure proposed by the British government to acquire the Blues. What a serious threat to the foreseeable future of the current third in the Premier League. Contrary to his claim, the Russian-born oligarch would not intend to wipe out Chelsea’s 1.8 billion euro debt. He wants the loan, contracted by Fordstam (the parent company of the Blues), to be repaid to Camberley International Investments, an opaque company registered in Jersey (a Channel Island), which will benefit his children.

But the government fears the money will never be donated to an independent foundation helping victims of the war in Ukraine, as sanctions affecting Abramovich provide. Last March, the British government confiscated the assets of the 55-year-old businessman in response to Russia’s invasion of Ukraine. The oligarch was accused of “destabilizing Ukraine” through a construction company under its control, which allegedly supplied steel to build Russian tanks.

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intentions different from their public statements

As a result, Abramovich pledged to part ways with Chelsea (which he has owned since 2003), promising that the “net proceeds” from the sale of the club (estimated at 3 billion euros) would be donated to a charitable foundation. . Benefits for victims of conflict in Ukraine. He also assured that he would not ask for the repayment of loans given to the English club.

But the government, which plans to withhold money from the sale in an escrow account before it is given to the foundation, suspects it does not intend to honor its public commitments. If it demanded that Fordstam pay its debt to Camberley International Investments, it would be in violation of its sanctions. A government source told The Times: “The government is very seriously concerned that the deal will collapse and Roman Abramovich will eventually be set to sink Chelsea.”

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Consortium led by Todd Bohe blocked takeover

Under these conditions, the sale of Chelsea could take longer than expected. or even be canceled altogether. To the extent of jeopardizing the near future of the club. The consortium, led by Los Angeles Dodgers (Baseball) co-owner Todd Boehley, may have held exclusive talks with investment bank Raine to end the recent acquisition.

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Other candidates have also appeared. But Abramovich’s attitude will stop everything for the time being. Meanwhile, the sanctions prevent the Blues from being active, signing any contracts, and preparing for next season in peace.

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