Chelsea sale: Abramovich agrees to write off £1.5billion loans to enable the club sale

The West London club owner Roman Abramovich who has been facing a serious sanction by the United Kingdom Government has recently reached a new agreement with the UK government.

The new agreement is set to help in the sale procedure of the club.

The new agreement came after the UK government sanctioned and freeze all Roman Abramovich’s assets and traveling ban placed on him.

The UK government gave Chelsea a sports license which will enable them to carry on all football-related activities as a club.

The sale of the club was placed on hold while all this we’re happening.

On the new agreement the Russian billionaire had with the UK government, Abramovich is set to write off the loans if over £1.5billion which means that he won’t get getting any proceeds.

A sale deadline has been placed on the club which is set to end next Tuesday.

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