Abramovich blocking Chelsea sale again as he opposed the sale condition yet again; Details

Abramovich blocking Chelsea sale again as he opposed the sale condition yet again; Details

In a very fresh twist of things at the Stamford Bridge, Chelsea is likely not to be sold and the deal is looking more or less not to go through again as Abramovich has turned the whole situation upside down again as he does not agree with the terms.

The 2.6 billion Pounds takeover may be halted by this as a source close to the Government of the UK said;

“There’s quite serious concern in government that the deal may fall apart and that Roman Abramovich is ultimately willing to let Chelsea go under.”

The Point remains that the entire £2.6bn from Boehly be placed in a holding account until officials are satisfied all the money will then go to a foundation to help victims of the Russian invasion of Ukraine.

But Chelsea and Abramovich maintain their wish for the £1.6bn debt owed by the club’s parent company Fordstam – effectively money owed to the Russian owner over his 19-year reign – be sent to a Jersey-registered investment company before being sent on to the foundation.

Chelsea’s demand is that the money would be frozen after being transferred to Camberley International Investments ahead of being moved to the foundation.

The source went ahead to say;

“There’s alarm about the gap between what Abramovich has said he will do publicly and what he’s willing to commit to legally as part of the sale process. 

“There are pressing deadlines this week, and if there isn’t a breakthrough, we’re quite concerned that the sale of Chelsea could be timed out by certain sporting deadlines.

“Chelsea are saying to us they don’t know who owns Camberley International and can’t talk to them. We cannot contact Camberley International to talk about this.

“Our understanding of the structure is that Camberley International is an affiliate of a trust fund which is owned by his children or goes to his children with an individual in Cyprus acting as the trustees’ signatory.

“Abramovich seems unwilling to give the legal commitments that neither he nor his affiliates could stake a claim to that unpaid debt between Fordstam and Camberley.

“A deal which would allow the cash to be diverted would be a breach of sanctions and would be a red line for ministers.”

Source; The Sun UK