Uncertainty has been cast over the potential sale of Chelsea amid fears that Roman Abramovich will break his promise to write off a £1.6 billion debt, according to the Times. The report claims that last week, the west London club told the UK Government - as well as bidding groups - that they want to 'restructure' the handover process, throwing a blanket of doubt over proceedings.
The reform would reportedly include 'paying off debt' from Chelsea’s parent company Fordstam Ltd to a Jersey-based company Camberley International Investments, which seems to be linked to the Russian billionaire. With Abramovich sanctioned by the UK Government and his assets frozen, there are concerns, especially with Ministers under the impression that all proceeds from the sale would be put towards helping the victims of the war in Ukraine.
Consortiums led by Todd Boehly, Stephen Pagliuca and Sir Martin Broughton looked set to be the only options on the table for Chelsea and the Raine Group - the bank advising the club on the takeover - but that no longer seems to be the case. On Friday, Sir Jim Ratcliffe confirmed that he made a late £4billion bid to buy the Blues.
