Chelsea and UK government agree on who will receive the fund from sale of the club

Chelsea could have a new owner by the end of this month after positive talks with the UK government, according to BBC.

Last week, Premier League chief executive Richard Masters said that the quickest takeover process of a Premier League club only took 10 days. So, it is not exactly impossible that the Chelsea sale could be completed this month.

The west London club is, of course, in a rather unique situation after the sanctioning of club owner Roman Abramovich by the UK government.

The club is currently operating under a special licence and would have to apply for a new one before a change of ownership could take place.

After positive discussions between Chelsea and the government at the weekend, according to the BBC report, the takeover is expected to go ahead.

The sale would have to be approved by the government and the sale funds would go to a charitable organisation, the report added.

This also answers the question that many Chelsea fans have been asking given Abramovich, who is under sanctions, was not going to receive any proceeds from the sale.

The potential Chelsea takeover will also be subject to the Premier League owners’ and directors’ test as expected.

It is now a race against time for Chelsea whose reported £28million monthly wage bill leaves the club in a difficult financial situation under the current licence.

Bear in mind, while the government recently agreed to allow Chelsea to receive broadcast revenues and prize money to finance the club operations, the club is still losing a great chunk of its matchday revenues.

The club sponsors, including their main shirt sponsors Three, are also reviewing their positions and the longer Chelsea remain under Abramovich’s ownership, the bigger the risk of losing these companies’ support.


1 thought on “Chelsea and UK government agree on who will receive the fund from sale of the club”

Comments are closed.