Before the Todd Boehly-led takeover proceeds, the UK government still requires legal assurances that the proceeds from the Chelsea sale will go to charity and not to Roman Abramovich.
Day in day out, numerous negotiations take place, with all parties aware of the May 31 deadline for a license that will allow Chelsea to function.
While Abramovich has declared that he is willing to pay off the £1.6 billion debt owing to him and donate the money to a charitable fund, the government believes that there is currently a gap between the sanctioned oligarch’s public words and what is legally in writing.
Despite the fact that the time is ticking, the two parties are still working on it, and worst-case situations are not currently foreseen. The government only needs to confirm that the takeover is fully clean, with no chance of funds going to a sanctioned individual – a situation that is unlikely to change very soon.
Chelsea’s temporary government license expires on May 31, making that date a strict deadline for the sale. The new owners would also have to go through the EPL’s processowners and directors test before that.
On the 7th of May, a consortium led by Los Angeles Dodgers co-owner Boehly won a remarkable contest to buy Chelsea for £4.25 billion. Marina Granovskaia and Bruce Buck, two long-serving Chelsea directors, had a substantial influence in the process, which was managed by the Raine Group, and are expected to stay on in the new regime — at least for a transition period.
This should also ensure that Thomas Tuchel and Emma Hayes, the men’s and women’s team managers, remain in place.
On the purchasers’ side, there is some trepidation about the situation, but this is balanced with hope that the deal will go through.