Chelsea sale in chaos after new development

The top English Premier League team Chelsea football club is currently on sale. However, the sale procedure is facing fresh chaos as the former owner Roman Abramovich now reportedly wants to get back his £1.6billion loan to the club.  

After the recent Russian invasion of Ukraine, the UK government put a sanction on the Russian oligarch Roman Abramovich due to his alleged ties with Russian President Vladimir Putin. That sanction meant that Abramovich’s all assets would be frozen. After that sanction, Chelsea got a special licence from the government to run the club till 31st May 2022. So, the Blues would be in deep trouble if they don’t find a new owner before 31st May, which is less than a month away.   

After the sanction, Abramovich announced the sale of the Chelsea football club after setting the base price of £3billion. At that time, he also completely wrote off Chelsea’s debt to him.

According to many media reports, all proceeds from the sale of the London-based club will go to the government. That money will be used to help the affected people by the ongoing war in Ukraine and grassroots development in the UK. 

Raine Group, an investment bank appointed by Abramovich, is handling all the procedures in the sale of the popular West London club. Abramovich’s green signal is reportedly important for completing the ongoing selling procedure. 

Chelsea want to restructure the club selling process

The London-based daily newspaper The Times has recently claimed that the Blues have informed the government as well as the rival bidding groups that they want to restructure the present selling process of the club. This restructuring procedure also includes Chelsea’s parent company Fordsham Ltd paying off debt to a Jersey-based company Camberley International Investments that appears to have links to Abramovich. 

The latest development has turned the selling procedure more complicated, especially when they have the deadline of 31st May. 

While many have shown keen interest to become the new owner of Chelsea FC, Los Angeles Dodgers baseball team co-owner Todd Boehly’s consortium is reportedly the strongest bidder to win the deal.