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Roman Abramovich 'reaches resolution' with UK Govt to push Chelsea takeover through
Chelsea's takeover was thrown into jeopardy earlier this week over Government concerns about the sale structure but it's understood that Roman Abramovich and Downing Street have now 'reached a resolution'
Roman Abramovich's 19-year tenure in charge of Chelsea is finally set to end after the Russian reached an agreement with the UK Government to push the sale through, according to reports.
Earlier this month, the London club announced a sale agreement with Todd Boehly's consortium, and the American was expected to be in charge before the end of the season, but reports this week left the takeover on the rocks after government officials demanded a new sale structure.
Abramovich had promised to donate the proceeds of the sale to a new charitable organisation to help those suffering in the war in Ukraine, but government were concerned that some of the money might diverted elsewhere.
There were also concerns about how to handle the club's £1.5 billion debt to Abramovich, despite the 55-year-old insisting that he won't be asking for the money back.
However it's understood that the Chelsea owner has offered further detailed assurances to Downing Street in the last few days which his lawyers believe should be enough to green light the sale of the club.
The news will be music to the ears of Chelsea fans following an unprecedentedly turbulent period which - worse case scenario - could have seen the club go out of business.
It'll also come as welcome relief for Blues boss Thomas Tuchel and his players, especially after the German admitted that the chaos surrounding the club over the past few months had begun to affect on-field performances.
Chelsea have been unable to sign new players or extend any contracts ever since sanctions were first imposed on Abramovich back in March.
Antonio Rudiger, who recently agreed to join Real Madrid when his contract at Stamford Bridge expires at the end of the season, revealed that Chelsea's inability to negotiate a new deal with him was one of the main reasons he decided to jump ship.
With the club's temporary Government licence set to expire on May 31 there are now less than two weeks for the takeover to be pushed through, but thanks to the recent resolution between Abramovich and the Government it's likely only a matter of time.
Daily Star Sunday
Chelsea's takeover was thrown into jeopardy earlier this week over Government concerns about the sale structure but it's understood that Roman Abramovich and Downing Street have now 'reached a resolution'
Roman Abramovich's 19-year tenure in charge of Chelsea is finally set to end after the Russian reached an agreement with the UK Government to push the sale through, according to reports.
Earlier this month, the London club announced a sale agreement with Todd Boehly's consortium, and the American was expected to be in charge before the end of the season, but reports this week left the takeover on the rocks after government officials demanded a new sale structure.
Abramovich had promised to donate the proceeds of the sale to a new charitable organisation to help those suffering in the war in Ukraine, but government were concerned that some of the money might diverted elsewhere.
There were also concerns about how to handle the club's £1.5 billion debt to Abramovich, despite the 55-year-old insisting that he won't be asking for the money back.
However it's understood that the Chelsea owner has offered further detailed assurances to Downing Street in the last few days which his lawyers believe should be enough to green light the sale of the club.
The news will be music to the ears of Chelsea fans following an unprecedentedly turbulent period which - worse case scenario - could have seen the club go out of business.
It'll also come as welcome relief for Blues boss Thomas Tuchel and his players, especially after the German admitted that the chaos surrounding the club over the past few months had begun to affect on-field performances.
Chelsea have been unable to sign new players or extend any contracts ever since sanctions were first imposed on Abramovich back in March.
Antonio Rudiger, who recently agreed to join Real Madrid when his contract at Stamford Bridge expires at the end of the season, revealed that Chelsea's inability to negotiate a new deal with him was one of the main reasons he decided to jump ship.
With the club's temporary Government licence set to expire on May 31 there are now less than two weeks for the takeover to be pushed through, but thanks to the recent resolution between Abramovich and the Government it's likely only a matter of time.
Daily Star Sunday