Lord Sebastian Coe has warned the Government to find a quick resolution to Chelsea's takeover delays or risk seeing the club burdened by debt "for the next 50 years".
Coe was part of Sir Martin Broughton's bid to buy the club before the British tycoon was ruled out of the running, with the price tag to take control of Chelsea thought to be in excess of £4billion. The ongoing process to choose the next owner of the club to replace Roman Abramovich appeared to have been nearing completion after it emerged the consortium led by American billionaire Todd Boehly, co-owner of the LA Dodgers, had been chosen as the preferred bidder.
However, a report on Tuesday suggested exiled owner Abramovich is seeking an agreement to repay him £1.6bn of the money he invested in the club, causing a delay in the process and some confusion amongst prospective bidders. If the parties are unable to ratify the takeover by May 31, Chelsea's future as a Premier League club could be thrown into doubt as the club's licence to operate expires on that day.
