The clock is ticking for Chelsea’s sale to be carried out with Roman Abramovich expecting his £1.5billion loan to be frozen having been advised that the UK Government sanctions against him block his plans to write off the club’s debt.
The 55-year-old pledged to wipe out his loan to Chelsea when confirming he had put the Stamford Bridge club up for sale on March 2, amid Russia’s invasion of Ukraine.
Downing Street imposed sanctions on Abramovich on March 10, claiming to have proved the business magnate’s links to Russian president Vladimir Putin.
The terms of those sanctions have left Chelsea’s parent company Fordstam Limited frozen, with the Blues operating under a special Government licence.
Fears are thought to have been raised that Abramovich could insist on his loan being repaid, which could jeopardise the entire sale process. Chelsea’s sale needs to be completed by May 31, when the Government’s special licence expires.
Sky Sports News’ chief reporter Kaveh Solhekol addresses the key questions…
The sale of Chelsea has been thrown into doubt over disagreements about what will happen to the £2.5billion the club is expected to be sold for.
The consortium led by US businessman Todd Boehly is the preferred bidder to buy Chelsea, but the UK government will not allow the sale to go through unless it is completely certain Roman Abramovich will not receive any of the proceeds.
Two months ago Abramovich put Chelsea up for sale and said he would not be asking for his loans to the club to