Friday, August 19, 2022

Chelsea report tax concerns to the FA following £4.25 billion takeover

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Chelsea have reported a tax concern to the FA and HMRC following their takeover. Todd Boehly and Clearlake Capital took over the ownership of the club from Roman Abramovich, after the Russian oligarch was sanctioned by the UK government. 

The entire sale was a £4.25 billion deal, with £1.75 billion being pledged towards the development of the club. However, £100 million was held back from the sale due to concerns over hidden costs that could be discovered later on. 

Chelsea report tax concern following takeover 

Outgoing club director Marina Granovskaia is expected to have a deduction from her £20 million, as part of the tax issue. The FA has said that it is monitoring the situation, while the HMRC has not commented on the issue as of yet. 

Around £3.25 billion from the sale is expected to go to the victims of the Russia-Ukraine war. The government endured that no profits from the sale would go to Roman Abramovich, due to his ties with Russia and the Russian government. 

Chelsea’s board is also expected to undergo a makeover, with chairman Bruce Buck leaving after almost twenty years. As mentioned earlier, Marina Granovskaia is also leaving the club after nine years in her position. 

As of right now, Todd Boehly is working on transfer negotiations and is also the acting chairman of the club. It is expected that a director of football will be appointed at some point in the future. 

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Arsh Das
Arsh Das
A music enthusiast, also passionate about football and bringing you the latest in the sporting world every day.

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