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Chelsea have learned that their takeover must be wrapped up by early next month or they will be unable to compete in the Premier League next season.
Representatives of the league will meet on June 8 to outline the new campaign – and if the Blues are inoperational at that point they run the risk of not being able to feature, according to the Mail on Sunday. Reporter for the publication, Rob Draper, wrote online: “The Premier League meet on June 8th to constitute the new league for 22-23. If Chelsea aren’t licensed to operate by then – and they are only licensed now on UK Govt sufferance – then they can’t be part of PL. Simples.
“Where that would leave Chelsea is a moot point? All along there has been this nagging doubt: if Abramovich does Putin’s bidding, then is Putin about to allow £2.5bn worth of Russian assets to go to UK Gov? And end up in hands of US private equity?”
He continued: “If Abramovich thinks UK Govt will blink because they don’t want to see Chelsea fold/go into administration, then he’s gambling hugely on Govt’s malleability. (A good bet, you might say). But be in no doubt, if he wants debts repaid, Chelsea future is at stake with clock ticking Abramovich initially wanted to set up foundation ‘for the benefit of victims of the war in Ukraine.”
The Times reported on Tuesday that the sale of Chelsea had hit a ‘serious obstacle’, with concerns that owner Roman Abramovich may be trying to withdraw his promise to write off £1.6billion worth of debt.
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The Blues reportedly told the government and the prospective buyers that they wish to change the structure of purchase so that debt from the club’s parent company will be repaid to Chelsea-linked firm Fordstam Ltd, a company that appears to be connected to Abramovich.
The UK government was under the assumption that all earnings from the sale would be handed to the government, which will then give to the victims of the war in Ukraine.
Draper continued: “Almost as tho bid was tailor-made to be what Abramovich wanted. And yet all along it’s been clear neither Roman, not Ratcliffe get to decide where that money goes. It’s for UK Govt to decide. IF Roman agrees to sale. Right now, that’s a sizeable IF…
“Imagine if it came down to May 30th and there was genuine chance Chelsea could fold but somehow a Ratcliffe bid could save the day if only the UK Govt agreed to a let the proceeds to an independent charitable foundation? Well, that would be better than letting Chelsea fold… And who could object, if this war comes to a close and politics changes, to Roman Abramovich being trustee of that foundation? “
- Chelsea FC
- Roman Abramovich
- Premier League
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