Chelsea takeover ‘on verge of being approved’ as ‘Roman Abramovich’s lawyers arrive at a solution which should satisfy Treasury officials’ over a potential stumbling block to £4.25BILLION deal
Concerns over the Chelsea takeover appear to have eased after a legal resolution was reportedly found over a potential stumbling block to the deal, which is now on the verge of being approved.
A consortium led by US investor Todd Boehly have agreed terms on a £4.25billion takeover to end the Roman Abramovich era.
But there had been ‘alarm’ among Government ministers that the deal may be at risk of ‘falling apart’ over the oligarch’s alleged ‘refusal to agree’ to a proposed sale structure.
Chelsea recently confirmed a consortium led by Todd Boehly (right) had agreed a deal to buy them
With the final deadline for an agreement to go through a fortnight away, negotiations looked to have hit another snag over the £1.6billion owed by Chelsea’s parent company, Fordstam Ltd, to Jersey-registered Camberley International Investments, a company with suspected links to Abramovich.
But The Times, citing a source close to Abramovich, reports the Russian oligarch insisted on Tuesday evening that lawyers have arrived at a solution which should satisfy Government officials.
The Government can now allow the deal to go through as a result of the resolution being found.
Roman Abramovich’s lawyers have arrived at a solution that should satisfy the Government
The Government can now approve the Chelsea takeover, ending a protracted legal process
It has also been reported in The Times that Chelsea chairman Bruce Buck and director Marina Granovskaia will receive bonus payments worth £50million when the Boehly takeover goes through.
The Premier League is believed to be close to giving the takeover the green light, ending a turbulent period for the club after it was plunged into crisis by sanctions placed on Abramovich following the Russian invasion of Ukraine over his alleged links to president Vladimir Putin.
The sanctions mean Chelsea are operating under a special licence which expires on May 31, with any deal requiring sign-off from ministers and the football authorities.
Abramovich wants his loan to Chelsea’s parent company Fordstam to be repaid to Camberley International Investments
The government say they have been ‘clear all along’ that they will not countenance any deal that could possibly see some money end up in Abramovich’s pocket.
It is understood ministers proposed that funds from any sale would be kept in a holding account, and released only once they are satisfied the money can go to a foundation to help victims of the Ukraine war.
May 31 is also the final day for the club to be registered for European competitions next season, while the Premier League will meet in early June to grant clubs the licenses required to play next season.
The latest development should ease concerns over the £4.25bn Chelsea takeover