Fresh doubt over Chelsea takeover amid issues with deal’s terms
Fresh doubt has been cast over the multibillion-pound takeover of Premier League outfit Chelsea with a new licence yet to be agreed.
Government officials are said to have doubts over the reissuing of a licence which expires at the end of the month.
The football club have been placed under such a licence following the UK Government’s sanctioning of its owner Roman Abramovich.
The impasse, according to Sky News’ Mark Kleinman, reportedly revolves around where the £2.5bn in sale funds goes following the closure of the deal.
This sticking point could throw the entire deal with Todd Boehly’s consortium – worth £4.25bn in total – into doubt.
Boehly’s consortium were named the preferred bidder a fortnight ago and the takeover was agreed in principle this month.
The deal will see a £2.5bn fee paid for the London club – who lost the men’s FA Cup final on Saturday before winning the Women’s on Sunday – as well as promised investment into the club over the next decade.
This comes as former Unicef UK chief executive Mike Penrose has been recruited by the club to establish a foundation what will be charged with using the sale proceeds to benefit Ukrainian war victims.
A concrete plan for the funds collected from the sale is yet to be made and Whitehall officials remain concerned about a £1.5bn loan owed to Abramovich.
Chelsea could face fresh obstacles if their licence is not renewed at the end of the month– Todd Boehly will also need to pass the Premier League owners’ and directors’ test.
Chelsea remain third in the league and are set to compete in the Champions League next season.