Chelsea’s £1.6 billion debt to sanctioned owner Roman Abramovich is becoming a major concern as US billionaire Todd Boehly’s consortium attempts to finalise a deal to acquire the club this week.
At a series of final pitch meetings held at Stamford Bridge last week, it is understood that Boehly’s team, along with representatives of the other shortlisted bids fronted by Sir Martin Broughton and Steve Pagliuca, were left with the impression that Abramovich now wants the £1.6 billion debt, from Chelsea’s parent company Fordstam Ltd to Camberley International Investments, repaid in full as part of the sale.
Abramovich initially pledged to write off the debt when he announced he was putting Chelsea up for sale at the beginning of March, adding that the net proceeds of any sale would be donated to a charitable foundation used to benefit all victims of the war in Ukraine.
But the UK Government subsequently sanctioned Abramovich, freezing his assets in the country while granting a special license to Chelsea to enable the club to continue functioning while a new owner could be found.
The Athletic understands that any sale of Chelsea which involves money flowing to Abramovich or any company linked to him would not meet the approval of the UK Government, which is required to effectively sign off on any deal by issuing a new special license to allow the club to pass into new ownership.
Full story here.
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