Roman Abramovich’s 19-year reign as Chelsea chairman is coming to an end after the Russian secured a deal with the UK government to complete the sale of the club.
The London club confirmed a sale agreement with Todd Boehly’s consortium earlier this month, and the American was set to take over before the conclusion of the season, but government regulators required a different sale structure, according to sources this week.
The revenues of the sale were to be sent to a new charitable organization to aid those suffering in Ukraine’s war, but the government was anxious that part of the money would be redirected elsewhere.
There were also questions about how the club would handle its £1.5 billion debt to Abramovich, despite the 55-year-assurances old’s that he would not seek repayment.
However, it is understood that the Chelsea owner has provided additional detailed assurances to Downing Street in recent days, which his lawyers feel will be sufficient to allow the club to be sold.
Chelsea fans will rejoice at the news, which comes after an unusual period of turmoil in which the club could have gone bankrupt in the worst-case scenario.
It will also come as a relief to Blues manager Thomas Tuchel and his players, especially after the German conceded that the club’s recent turmoil has begun to impair on-field performances.
Since Abramovich’s restrictions were first imposed in March, Chelsea have been unable to sign new players or renew current contracts.
Antonio Rudiger, who recently agreed to join Real Madrid when his contract at Stamford Bridge ends at the end of the season, claimed that one of the primary reasons he opted to go was Chelsea’s failure to negotiate a new deal with him.
With the club’s temporary Government license scheduled to expire on May 31, the takeover has less than two weeks to complete, but thanks to Abramovich and the Government’s recent agreement, it’s likely only a matter of time.