Chelsea Close To Being Sold As Abramovich’s Lawyers Fly Into UK
Chelsea’s takeover is nearing completion after a legal resolution to a potential stumbling block to the agreement was uncovered.
To put an end to the Roman Abramovich era, a team led by US billionaire Todd Boehly has signed negotiations on a £4.25 billion takeover.
However, UK Ministers were concerned that the agreement could “fall apart” due to Abramovich’s reported “refusal to agree” to a proposed selling structure.
Negotiations appeared to have reached another hitch over the £1.6 billion owing by Chelsea’s parent company, Fordstam Ltd, to Jersey-registered Camberley International Investments, a business with alleged ties to Abramovich, with the final deadline for a resolution only two weeks away.
However, according to The UK Times, citing a source close to Abramovich, the Russian oligarch asserted on Tuesday evening that attorneys had reached an agreement that would satisfy Government authorities.
As a result of the resolution, the government can now allow the sale to proceed.
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The Premier League is reportedly close to approving the takeover, bringing an end to a tumultuous period for the club, which was thrown into disarray by sanctions imposed on Abramovich following Russia’s invasion of Ukraine.
