The UK Government may still need to know key Marina Granovskaia and Bruce Buck information before they give the final green light on Todd Boehly's proposed takeover amid, it has been claimed.
It was a key day in the history of Chelsea FC on May 7 as it was announced around 1am that the takeover bid from Boehly's consortium had been accepted, subject to the Government and Premier League's approval. The statement read: "Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Club.
"Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100% to charitable causes as confirmed by Roman Abramovich. UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account. In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation.
"The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time." Hours later, Boehly attended Chelsea vs Wolves and had to witness problems continue mounting up on the pitch for Thomas Tuchel as his preferred backline collapsed late on as Trincao and Conor Coady left Stamford Bridge in stunned silence.
READ MORE: Every word frustrated Thomas Tuchel said on Lukaku, Wolves, Boehly, Azpilicueta and Chelsea U23s
It is expected that the American and certain members of his consortium are to attend key games for the remainder of the season with the FA Cup just around the corner but his group still have some work off the pitch to do in order to complete the full takeover. Despite terms being agreed, the UK Government must approve the deal.
According to The Telegraph, the Government are yet to be convinced that Roman Abramovich will not benefit from the sale of Chelsea, with concerns also evident about Bruce Buck and Marina Granovskaia remaining at the club once the takeover is completed.
However, CBS Sports' Ben Jacobs does not envisage any major problems ahead. He wrote on his Twitter account @JacobsBen: "The gov. will not block the Chelsea sale if Buck and Granovskaia stay at the club. DCMS committee chair Julian Knight has said the pair remaining would be 'an unsettling development'. But with neither sanctioned in conjunction with Abramovich, their departure can’t be enforced.
"Clearlake-Boehly, like other suitors, expressed a desire to keep both during bidding process. That’s unsurprising since telling key executives you won’t keep them in a job isn’t wise when pitching. Preference remains for Buck & Granovskaia to at least be part of the transition." Interestingly enough though, he didn't rule out the possibility that both leave in the future once the transition in ownership change stabilises.
He added in his Twitter thread: "From there onwards, their long-term future hasn’t been discussed in significant detail. It’s also a two-way conversation since it remains unclear if Buck or Granovskaia actually want to stay. The government could only insist on the pair’s removal if they could prove Abramovich could still influence the club through them or receive money. It’s logical some ministers are uncomfortable with their presence and they could yet depart. These are discussions for coming weeks.
"But the point is, should Clearlake-Boehly wish to keep them, there is really very little the government can do unless they can convince (not demand) Clearlake-Boehly or prove they are facilitating a benefit to Abramovich via the club. Discussions next week will be less about the pair and more about the specifics of the new Foundation. Abramovich claims government have always been kept in the loop on it via an independent advisors. Plans are still developing.
"There will also be some talk about what happens if/when sanctions are lifted against Abramovich. If he suddenly has access to funds, that’s perhaps when any links to him via Chelsea become of more concern. Chelsea sources also add that Buck and Granovskaia also don’t want to derail any sale. So they have a few weeks to engage with the new owners. But as previously reported, nothing has been decided yet beyond a desire to have them remain through a period of transition.
"Overall, DCMS & Clearlake-Boehly sources have maintained license approval is now seen as a formality not a hurdle. The fact the gov. were comfortable with Chelsea releasing a statement is also a sign the deal will happen. Just going to take a few weeks and final discussions."
Chelsea fans- do you want to see both Marina Granovskaia and Bruce Buck remain at the club and become integral part of Todd Boehly's ownership structure going forward into the long-term future? Leave your thoughts in the comments section below!
