May 16, (THEWILL) – Reports monitored by THEWILL hold that Todd Boehly’s planned £4.25 billion buyout of Chelsea FC has been cast in doubt due to the UK government worries about Roman Abramovich’s plans for the revenue from the sale.
The Russian-Israeli businessman has agreed to sell Chelsea to Boehly, and the deal was previously scheduled to be finalised by the end of May.
However, a new stumbling block has emerged amid growing concerns in Whitehall over Abramovich’s apparent failure to provide assurances over the £2.5 billion that the sale will generate.
The money is to be sent to victims of the Ukrainian war, according to the Chelsea owner. But, there are doubts about the sincerity of the gesture.
As a result, there are now concerns within the government about whether a special licence required to confirm the sale will be issued before the end of the month deadline because if that deadline is not met, Chelsea may be forced to withdraw from competitions next season or perhaps go bankrupt.
The situation is still fluid at the moment and a licence could be given in time to finalise the sale.
The long-running acquisition was said to have encountered a snag in May, when Abramovich was reported to be attempting to reclaim £1.6 billion owed to him by Chelsea. However, Abramovich and the club refuted this, and an agreement with Boehly’s consortium was announced shortly after.
About the Author
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
