Chelsea’s sales are now in danger of being hampered after Roman Abramovich reportedly broke his promise to write off a loan he had given to the Blues. In March 2022, Roman Abramovich officially announced that he would sell Chelsea. The decision was taken by Abramovich following Russia’s invasion of Ukraine. The 55-year-old man is one of the Russian tycoons who is said to have close ties to Russian President, Vladimir Putin. Therefore, this step was taken to protect Chelsea.
Abramovich also said that he would not ask for a return of all the money he has loaned to the club over the last 19 years. He even stated that the proceeds from the club’s net sales would go to the victims of the war in Ukraine. According to Fordstam Limited’s latest financial report, Chelsea’s parent company, Abramovich, has provided a loan worth 1.6 billion pounds during his tenure as Chelsea owner.
However, according to The Times report, the process of selling Chelsea is now hampered because Roman Abramovich reportedly broke his promise to give up loan funds for the club. Abramovich is said to want prospective Chelsea buyers to redeem all the funds he had lent earlier.
“The sale of Chelsea has encountered serious obstacles following concerns that its Russian owner, Roman Abramovich, is trying to break his promise to write off a loan worth 1.6 billion pounds,” wrote The Times, Tuesday (3/5/2022).
Last week, the West London side told the British government and the club’s bidding group that the debt must now be repaid as part of the sale process. Fordstam Limited has to pay off debt to a Jersey-based company, Camberley International Investments, which is said to have ties to Abramovich.
Launching from The Guardian, it would be quite odd if Chelsea’s request was approved, considering Abramovich’s assets are currently being frozen. Meanwhile, Chelsea’s sales process has actually begun to approach the final round. The consortium led by American businessman Todd Boehly is reportedly the strongest candidate in Chelsea’s bidding process.
However, on Friday (29/4/2022), British businessman, Sir Jim Ratcliffe, made an offer worth 4 billion pounds to buy the Blues. Ratcliffe had a meeting with the stakeholders involved at Chelsea last weekend. He is believed to be a candidate if Boehly’s bid collapses.
Meanwhile, Chelsea must complete the sale of the club before 31 May, which is the deadline for the club’s management license. If they don’t find a new owner before that deadline, Chelsea will be subject to sanctions that could bar them from participating in the Premier League and European club competitions.
