Roman Abramovich has been sacked as Chelsea manager by the Premier League board but the sale of the club is expected to progress with Government oversight.
The UK Government’s order to sanction Blues owner Abramovich on Thursday has frozen the assets of the Russian-Israeli billionaire in the UK, including Chelsea, bringing proceedings to a halt .
However, Chelsea have been granted a new license to continue operating and the European champions are still locked in negotiations with the Government to ease restrictions.
The PA news agency understands that New York commercial bank Raine Group has now assessed the terms of the license and agreed a route of sale with the Government.
The Premier League Board’s decision to remove Abramovich is unlikely to have any real impact, as the buying and selling process is already underway. It does not affect Chelsea’s ability to play.
Meanwhile, there was some positive news for the club on Saturday, with the license revised to allow spending up to £900,000 per home game.
Abramovich put Chelsea up for sale on March 2, pledging to write off the Blues’ £1.5 billion debt and transfer all proceeds to a new fund to benefit victims of the war in Ukraine.
The 55-year-old moved to sell Chelsea after 19 years at Stamford Bridge, amid Russia’s continued war in Ukraine.
The government sanctioned Abramovich after claiming to have proven his direct connection to Vladimir Putin’s Russian regime, although the Chelsea owner has always denied any connection.
The sale of the Raine Group means that Chelsea suitors can once again boost their bid to take control of the European and world champions in the club game.
Abramovich is said to be ready to work with Government oversight on the acquisition and now that the Raine Group has completed the appropriate checks, interested parties may urge.
Partial owner of the LA Dodgers, Todd Boehly, remains open to an acquisition, with Chicago Cubs owner Tom Ricketts also understood to be involved.
British property mogul Nick Candy has also confirmed his strong interest in buying The Blues and is in the process of building a consortium.
Chelsea saw a number of credit cards temporarily frozen on Friday amid a day of frantic negotiations with the Government over the terms of their new operating license.
The heads of Downing Street are ready to amend the terms of the license so that Chelsea can operate as normally as possible while ensuring Abramovich does not profit.
But Chelsea reckon that Abramovich is not profiting from regular operations anyway, so they hope to be able to quickly revive some of the concerns that are currently limited.
Chelsea were unable to sell any new tickets, leaving fans without season tickets or pre-purchased tickets unable to attend future matches.
The Blues are unable to sell any merchandise, including new match programmes, meaning suppliers will not be able to work their shifts during Sunday’s Premier League clash with Newcastle at Stamford Bridge.
https://www.independent.ie/sport/soccer/roman-abramovich-disqualified-as-chelsea-director-but-club-sale-set-to-progress-41439115.html Roman Abramovich sacked as Chelsea director but club sale in progress