Chelsea contract ‘big hurdles to be overcome’

Roman Abramovich has owned Premier League club Chelsea since 2003.

BBC Sport says the government will approve the sale of Chelsea’s £4.25bn in the next 24 hours.

But, according to a senior Whitehall official, the deal “still has major hurdles to overcome”.

Since the owner Roman Abramovich has a Portuguese passport, the acquisition must also be authorized by the authorities of the respective country.

Ministers are now said to be in “hot discussions” with the European Commission to provide the necessary guarantees to approve the transaction.

Chelsea is Agreed terms for the transaction Joining a private equity consortium led by US investor Todd Boehly, co-owner of the Los Angeles Dodgers baseball team.

The club was sold before Abramović’s owner. been sanctioned After the invasion of Ukraine, he is accused of being involved with Russian President Vladimir Putin.

The government then issued a special license for Chelsea to continue operating, which expired on May 31st.

Last week, the BBC reported that the government There is a risk of “falling”. This is because no agreement has been reached with the club on the proceeds of the sale.

The government version of the case was disputed by sources close to Abramovich when it was approached.

But now it is understood that Abramović provided a legally binding guarantee that the £1.6 billion loan to the club would not go to the Russian oligarch or his family. This allows money to go into frozen accounts under government control.

A Whitehall source said: “Everyone wants to close the deal, but due to the complex nature of the deal and the Chelsea ownership structure, nothing is simple.”

“We are working hard to convince international partners who rightly want their confidence in this transaction and, of course, how the proceeds will ultimately be used.

“Time is passing quickly. This deal must be completed by the end of Tuesday, otherwise we could miss key football deadlines and put the club at risk.”

The football association must nominate clubs to participate in the UEFA competition by the beginning of next month. The Premier League will meet on June 9 to offer licenses for the next season.

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