RT.com
25 May 2022, 00:13 GMT+10
Some late obstacles must be overcome before Chelsea moves on from the Roman Abramovich era
The Chelsea takeover saga has hit some last minute road blocks according to sources from within the UK government, but there remains a high degree of confidence that the deal will be completed before fast-approaching deadlines which would complicate matters further.
Boris Johnson's government could approve the deal as early as Tuesday, per the BBC, but late hurdles related to Roman Abramovich's Portuguese citizenship have meant that authorities there must also approve the Pound 4.25 billion ($5.3 billion) sale before it can be officially signed off on.
Abramovich, who purchased the Premier League side in 2003, announced his decision to sell the club in March shortly before he was sanctioned by the UK government due to perceived links to the Kremlin in the aftermath of the onset of the military campaign in Ukraine.
Chelsea was subsequently awarded a special license to continue operation, though this expires on May 31 - a date which has become a de-facto deadline for a takeover to be completed.
Several interested parties has announced their candidacy to push forward with a deal to buy the club, with the group fronted by Los Angeles Dodgers part-owner Todd Boehly eventually being hand-picked as Abramovich's successor.
Both Boehly and another member of the group, Swiss billionaire Hansjoerg Wyss, were present at the club's Stamford Bridge stadium for their final Premier League game of the season on Sunday.
It had been reported last week that the takeover was in jeopardy after supposed disagreements between Abramovich's representatives in the sale and the UK government amid concerns that the destination of the money involved in the deal was uncertain.
However, the government's version of events was strenuously denied by Abramovich who is now understood to have provided evidence that he will not personally profit from the sale.
The money will instead go to a frozen account controlled by the UK government.
"Everyone wants to get the deal done, but with the complicated nature of the deal and the Chelsea ownership structures, nothing is simple," the BBC quoted an anonymous government source as saying.
"We are working hard to assure our international partners who rightly want their own assurances on this deal and of course how the proceeds will eventually be spent.
"Time is rapidly running out, this deal has to get done by the end of Tuesday, otherwise major football deadlines may be missed and the club will be at risk."
With various UEFA and Premier League deadlines for next season's competitions fast approaching, representatives from the club and the government will be furiously working to iron out any late wrinkles in the deal.
READ MORE: It will be 'criminal' if politics derail Chelsea sale, says charity chief
Confidence remains high that the takeover will be completed in advance of any deadlines - but the last minute hitch related to Abramovich's Portuguese passport is just the latest speed bump to be cleared in what is one of the biggest sporting takeovers in history.
The Roman Era will soon come to an end in West London one way or another, with Boehly and co. hoping that it comes without further headaches as they look to plot for next season as they navigate out of some of most turbulent weeks in the club's history.
(RT.com)
Get a daily dose of San Diego Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to San Diego Sun.
More InformationSAN FRANCISCO, California: General Motors' self-driving Cruise division has begun charging fares for driverless rides in San Francisco.Earlier this month, ...
WASHINGTON D.C.: The U.S. Food and Drug Administration (FDA) is preparing to order Juul Labs to stop selling its e-cigarettes ...
A total of 12 members of the Los Angeles Angels and Seattle Mariners were suspended by Major League Baseball on ...
Aside from their struggles against the Colorado Rockies, the San Diego Padres have been proficient this season at beating teams ...
Philadelphia Phillies injured slugger Bryce Harper is expected to require surgery to fully repair his broken left thumb, according to ...
Washington [US], June 28 (ANI): HBO has provided details regarding the nature of the upcoming battles for 'Succession' season 4. ...
SAN FRANCISCO, California: General Motors' self-driving Cruise division has begun charging fares for driverless rides in San Francisco.Earlier this month, ...
NEW YORK, New York - The euphoria on Wall Street of late last week was absent on Monday as all ...
WASHINGTON D.C.: In May, sales of new U.S. single-family homes unexpectedly increased, but this is expected to be temporary, as ...
LONDON, England: British Airways' staff at London's Heathrow airport has voted to strike due to pay disputes. Amidst an already ...
SYDNEY, NSW, Australia - Stocks across Asia rose on Monday, in a positive start to the week.The U.S. dollar was ...
TOKYO, Japan: Amidst semiconductor shortages and COVID-19 parts supply disruptions, Toyota has reduced its July global production target by 50,000 ...