Resolution found on Roman Abramovich’s £1.6bn loan as government approves Chelsea sale

0

A legal resolution has been reached over the £1.6billion loan due to a trust, meaning the government can now approve the sale of Chelsea.

It comes after government ministers on Monday expressed concerns about the structure of the sale and where the money would go.

According to the Times, the government can now approve the sale of Chelsea after a legal resolution has been found.

A government source previously said they believed Abramovich was ready to let Chelsea go bankrupt before his sources disputed the claims.

The club are in loan debt of £1.6billion, owed to Chelsea parent company Forstam and now a source close to Abramovich has insisted the lawyers have reached a solution over the past few years. days which should satisfy Treasury officials.

Scroll to continue

This means that the government is now ready to sign an agreement, which will finally see the sale process come to an end.

imago1011916486h

Todd Boehly has agreed to succeed the Blues owner and is believed to be about to be officially announced as the new owner.

Former Executive Director of UNICEF. Mike Penrose, has been instructed to set up a foundation in Ukraine for the proceeds of the sale, as Abramovich cannot benefit from it due to his British sanction.

The legal deal is now expected to mean the £2.5billion figure from the sale can be paid into a custodial account, controlled by the government with the money donated to the foundation once it is satisfied that no money will go to the Russian.


Follow Absolute Chelsea on: Twitter | Facebook | Instagram | Youtube

Share.

About Author

Comments are closed.