Chelsea Inform Government of Desire to Restructure Sale to Pay-Off Abramovich Debt
NICK EMMS • MAY 3, 2022
Chelsea have told the government that they want to restructure the way the club is being sold to repay debts despite Roman Abramovich previously writing these off.
It was previously reported that a deal was set to be made between Abramovich and the DCMS in order for the £1.5 billion in debt at Chelsea to be written off and put into equity .
As per the Times, Chelsea have told the government that they want to restructure the way the club is being sold.
The report states that the Bleus wish to change the structure of the sale to include paying off the debt from Chelsea’s parent company Fordstam Ltd to a Jersey-based company Camberley International Investments.
However, there are 'big concerns' about allowing that to happen as Abramovich has been sanctioned and has had his assets frozen.
Scroll to Continue
Read More
The government had been under the impression that all proceeds from the sale would be given over to the government to be used for good causes such as helping victims of the Ukraine war.
This comes as Todd Boehly's party were named by Raine as the preferred bidder, with Sir Martin Broughton's consortium missing out, but the groups were only informed by the change in regards to debt days before the annoucnement.
Boehly's consortium has a week to finalise the paperwork and agree a deal to become the next owner.
More will become clear in the coming week as Boehly's group enter exclusive talks ahead of a potential takeover, with the structure of the debt repayment yet to be finalised.
Follow Absolute Chelsea on: Twitter |
Facebook | Instagram | YouTube
· ROMAN ABRAMOVICH
· CHELSEA FC · RAINE GROUP
BY NICK EMMS
IMAGO / PA Images
I