To make sure you never miss out on your favourite NEW stories, we're happy to send you some reminders

Click 'OK' then 'Allow' to enable notifications

Not now
OK
Advert

Chelsea Takeover Hits Problems Over Roman Abramovich Loan U-Turn

Published 
| Last updated 

Chelsea Takeover Hits Problems Over Roman Abramovich Loan U-Turn

Roman Abramovich could cause serious issues for Chelsea, with reports that he wants to make a u-turn over the decision to cancel the club's loan to him.

Loading…

Abramovich decided back in February to sell the Blues, in the wake of Russia's invasion of Ukraine, with the need to sell sped up by sanctions on the Russian by the UK government.

Initially it was reported that the billionaire was ready to waive the £1.6 billion the club owed him in loans in order to help the sale go through.

Advert

Last week Sir Jim Ratcliffe, the UK's richest man, launched a late bid to buy the club but the American Boehly group were expected to be named as the preferred bidder.

However, on Tuesday, things hit a barrier, with the Times reporting that Abramovich is 'attempting to renege' on waiving the money owed.

The report says that Chelsea told the UK government and the preferred bidder that they wanted to restructure the deal, with the £1.6 billion going to the Blues' parent company, which appears to be linked to the current owner.

Abramovich has been sanctioned by the UK. (Image: PA)
Abramovich has been sanctioned by the UK. (Image: PA)
Advert

The sanctions against the 55-year-old has meant his assets have been frozen and the money from the sale was meant to be used for good causes, including those in Ukraine affected by the war.

Daily Mail sports writer Rob Draper explained on Twitter what the repercussions of the Abramovich decision could have on the Premier League side, and they could be very serious.


Advert

Draper explained that though there is a deadline for May 31st for the sale, the club would be in trouble if they weren't sold by June 8th, when the Premier League clubs meet.

At that point their temporary license, which has allowed them to continue trading for the rest of this season, but also stopped fans buying tickets and merchandise, would have expired.

Without a license to operate as a business, the club would not be able to continue in the league, which is obviously something everyone would want to avoid.

Advert
Ratcliffe, who owns Ligue 1 side Nice, bid for the Blues last week. Image: PA Images
Ratcliffe, who owns Ligue 1 side Nice, bid for the Blues last week. Image: PA Images

Earlier in the process it was claimed that Abramovich could have taken the club into administration if he refused to sell to anyone from a country which placed sanctions of the billionaire.

That clearly isn't the case, with an American led consortium set to be named as the preferred bidder and Ratcliffe still a potential buyer, but things could be just as bad in this current scenario.

Featured Image Credit: PA

Topics: Chelsea, Premier League, Roman Abramovich

Ryan Sidle
More like this
Advert
Advert
Advert

Chosen for YouChosen for You

Football

The moment Alexandre Lacazette grabbed Cedric by the face in Arsenal brawl captured by All Or Nothing cameras

8 hours ago

Most Read StoriesMost Read

Joachim Andersen posts some of the vile Instagram DM's he received after Liverpool game

18 hours ago