Chelsea takeover bid set for EPL, Government approval after Abramovich clarification
Chelsea takeover bid set for Premier League, and Government approval after Abramovich clarification.
Todd Boehly’s consortium bid to buy Chelsea is now expected to be put forward for Premier League and Government approval.
This after Roman Abramovich insisted in a statement on Thursday that he still has no plans to keep any of the proceeds from Chelsea’s sale, or seek to have any loans repaid.
Fears were raised that Abramovich might renege on his plan to write off Chelsea’s £1.5billion debt.
Boehly’s bid now moving ever closer to a Stamford Bridge takeover as
Abramovich expects that loan to be frozen on completion of Chelsea’s sale.
Abramovich’s moves to clarify his position on Thursday night have paved the way for Chelsea’s sale to keep progressing.
Also read,
Chelsea Eye Leipzig defender Josko Gvardiol
Five players Chelsea could sign as Jim Ratcliffe promises Tuchel transfer war chest
Abramovich’s statement on Chelsea takeover bid
In a statement posted on the Chelsea website, a spokesperson for the club owner said: “Firstly, Mr. Abramovich’s intentions in relation to gifting the proceeds from the Chelsea sale to charity have not changed.
“Since the initial announcement, Mr. Abramovich’s team has identified senior representatives from UN bodies and large global charitable organizations who have been tasked with forming a Foundation and setting out a plan for its activities.
“The lead independent expert has had conversations with Government representatives presenting the structure and initial plans.
“Mr. Abramovich has not been involved in this work and it has been managed independently by experts with years of experience working in humanitarian organizations.
“Secondly, Mr. Abramovich has not asked for any loan to be repaid to him – such suggestions are entirely false – as are suggestions that Mr. Abramovich increased the price of the club last minute.
“As part of Mr. Abramovich’s objective to find a good custodian for Chelsea FC, he has however encouraged each bidder throughout this process to commit to investing in the club – including in the Academy, Women’s team, necessary redevelopment of the stadium as well as maintaining the work of Chelsea Foundation.
“Following sanctions and other restrictions imposed on Abramovich by the UK since announcing that the club would be sold, the loan has also become subject to EU sanctions, requiring additional approvals.
“That means that the funds will be frozen and subject to a legal procedure governed by authorities. These funds are still earmarked for the Foundation. The Government are aware of these restrictions as well as the legal implications.
“To be clear, Mr. Abramovich has no access or control of these funds and will not have any access or control of these funds following the sale.
“Despite the changing circumstances since his initial announcement – he remains committed to finding a good custodian for Chelsea FC and making sure the proceeds go to good causes.”
Chelsea’s sale has a deadline of May 31, when the Government’s temporary licence for the Blues expires.
Also read,
Chelsea fear mass player exodus
Chelsea player agrees five-year contract worth €5m-a-season
Chelsea Now Seriously ‘Considering’ €80m Defender After Poor Displays, Fabrizio Romano
Follow us
