Chelsea news: The Blues may be ’50 years in debt’ as Premier League expulsion threatens

Chelsea could find themselves in significant debt if their sale doesn’t go through soon, according to Lord Sebastian Coe, and they could be banned from the Premier League

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Chelsea are on “borrowed time,” says MP Nadine Dorries

Chelsea could be saddled with debt “for the next 50 years”, Lord Sebastian Coe has warned.

The club was put up for sale by Roman Abramovich after Russia invaded Ukraine. The Russian billionaire was subsequently sanctioned by the British government for his alleged links to Vladimir Putin.

The sanctions mean the club cannot conduct financial transactions and must operate under a special operating license. Lord Coe was part of Sir Martin Broughton’s bid to buy the club before the British tycoon was ruled out of the race and has now issued a warning to the government to find a solution to selling the club soon.

It comes as the club are just days away from potentially being kicked out of the Premier League. And Sir Jim Ratcliffe has broken his silence on his attempts to buy the Stamford Bridge outfit as he insisted he is “not giving up” on his £4.25billion bid.

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Roman Abramovich has put Chelsea up for sale


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Sir Jim Ratcliffe breaks the silence

Sir Jim Ratcliffe has insisted he is ‘not giving up’ on his bid to buy Chelsea.

Britain’s richest man is still hoping to buy the club despite Todd Boehly’s consortium reportedly being given preferred bidder status last week. This news came just as Sir Jim upped his bid to buy the Blues to £4.25bn.

According to the director of his petrochemical giant INEOS, his offer was “shorthandedly turned down” by Raine Group, the US bank tasked with handling the sale of the club. But Ratcliffe has now told Raine not to “close a door” as he urged her to consider his offer.

Read the whole story here.

Exclusion from the Premier League is imminent

Chelsea could be left out of the Premier League within days if the takeover doesn’t go through.

The purchase appears to have stalled in recent days as reports say Roman Abramovich is considering a reversal on his promise to write off the club’s £1.6billion debt. The club have been operating under a special license following the sanctions imposed on Abramovich, which expire on May 31.

Eight days later, the Premier League is due to hold a meeting to confirm details for next season. If a deal isn’t finalized by then and the club isn’t licensed, it’s not unreasonable to consider the possibility of being kicked out.

Read the whole story here.

Lord Coe sends a warning

Lord Sebastian Coe has warned Chelsea could be in debt “for the next 50 years” unless the government is “really clear about what they want from the sale of the club”.

American billionaire Todd Boehly, co-owner of the LA Dodgers, has reportedly been given preferred bidder status and is said to have until Friday to finalize a deal for the club. Failure to do so will give other groups an opportunity to advance their offerings with the Raine Group, which could result in further delays in the club’s sale.

However, Lord Coe says the financial implications of Chelsea’s continued inability to sell tickets could leave the club in significant debt if the purchase is not completed in the coming weeks.

Read the whole story here.

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