Roman Abramovich wants to regain £1.5 bn loan in Chelsea sale amid UK sanctions: Report

In the latest development, the sale of Chelsea Football Club is in doubt after owner Roman Abramovich has reportedly attempted to restructure his £1.5 billion loan deal amid UK sanctions. It is believed that the government is aware of attempts of a potential restructure which could see the Russian oil mogul receive the amount he has loaned the club.

Sale of Chelsea FC in doubt due to sanctions on Abramovich

According to UK reports, the sale of Chelsea Football Club is in doubt because there are disagreements about what will happen to the £2.5 billion that the club is expected to be sold for. It is believed that the consortium led by US businessman Todd Boehly is the preferred bidder to buy the Blues. However, the UK government will reportedly not permit any deal to go through until and unless it is certain that Roman Abramovich will not receive any proceeds.

The Blues had been put up for sale two months ago by Abramovich after he came under severe pressure to sell the club amid Russia's 'unprovoked' invasion of Ukraine. The pressure was put on the Russian oil mogul as he was deemed to have close ties with the Russian administration and president Vladimir Putin.

While putting the club up for sale, Abramovich had said that he would not be asking for his loans to the club to be repaid and that all the proceeds would go to a charitable foundation for 'all the victims of the war in Ukraine.' However, since the sale is being conducted by the Raine Group, an investment bank appointed by Abramovich itself, there are doubts that the Russian owner will take some proceeds due to having the final say.

Since Chelsea's government licence to operate runs out on May 31, there is a possibility that the club goes out of business until it is sold or if the licence is extended. The Premier League are scheduled to have a meeting on June 8 to constitute the new season, and the Blues would require to have a licence if they are to be a part of the new season.

Image: AP