Todd Boehly and the Clearlake Capital consortium are reportedly happy with the Chelsea statement released on Roman Abramovich's behalf amid major worries regarding the sale going through.
There have been numerous stories circulating in the media over the last few days regarding the takeover hitting a snag ahead of the May 31 deadline, but claims that Abramovich wanted his £1.6billion loan repaid have been denied.
Published on Chelsea's official website, the statement read: "Firstly, Mr Abramovich's intentions in relation to gifting the proceeds from the Chelsea sale to charity have not changed.
READ MORE: Chelsea Supporters' Trust reveal major concern with Jim Ratcliffe bid and set Todd Boehly task
"Since the initial announcement, Mr Abramovich's team has identified senior representatives from U.N. 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 Mr Abramovich by the U.K. since announcing that the club would be sold, the loan has also become subject to E.U. 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."
Having been selected by the Raine Group as the preferred bidder, despite a late move from Britain's richest man, Jim Ratcliffe, the consortium headed by Boehly have been given a period of exclusivity to finalise the sale.
After the clarification on the matter given by the Abramovich statement, Clearlake and Boehly are understood to be 'comfortable' with still closing the deal. This is according to CBS's Ben Jacobs, who has been monitoring the takeover situation from day one.
His thread of tweets read: "Abramovich statement confirms £1.6bn in loans will be frozen. He can’t legally write debt off whilst sanctions remain. Also confirms (again) sale proceeds will go to charity. No specific mention of “victims of the war in Ukraine” being beneficiaries but that remains the plan.
"Clearlake-Boehly are comfortable with the plan (which has changed during a fluid process) and DCMS sources tell me the government will sign off this handling of the debt. As reported earlier, a sale is very close."
This news has already been backed up by The Telegraph's update that Boehly is set to sign his first Chelsea contract on Friday which would mean that the Government had sent their approval to the part LA Dodgers owner in the process of this deal finally being signed off.
So Chelsea fans, the end seems to be near in this takeover race. How do you feel about Boehly being the next owner of the club? Would you be happy with the decision? Leave your thoughts in the comments section below.
