Roman Abramovich has been disqualified as a director of Chelsea by the Premier League board but the sale of the club is expected to progress with Government oversight.
The sanctioning of Blues owner Abramovich by the UK Government on Thursday, March 10, 2022, saw the Russian-Israeli billionaire’s UK assets frozen, including Chelsea, which stalled proceedings.
Chelsea have been handed a new licence to continue operations, however, and the European champions are still locked in negotiations with the Government to ease restrictions.
Chelsea are now allowed to spend up to £900,000 on match-day costs, up from £500,000, following talks between club officials and the Government.
Travel costs for away games remain at £20,000 but the club can receive prize money this season from the competitions they are competing in, with further changes expected in the coming days.
The Government reiterated they are open to issuing a further licence to allow a sale of Chelsea to proceed.
A Government spokesperson said: “The Government is open to a sale of the club and would consider an application for a licence to allow that to happen.
“We are absolutely clear that any such licence would not allow Roman Abramovich to benefit from the sale.”
New York merchant bank the Raine Group has now assessed the terms of the licence and agreed a route forward for the sale with the Government, the PA news agency understands.
The Premier League board’s decision to disqualify Abramovich is unlikely to have any real impact given the sale process was already underway. It does not affect Chelsea’s ability to play matches.
Abramovich put Chelsea up for sale on March 2, pledging to write off the Blues’ £1.5 billion debt and to divert all proceeds to a new foundation to benefit victims of the war in Ukraine.
The 55-year-old moved to sell Chelsea after 19 years at the Stamford Bridge helm, amid Russia’s continued war in Ukraine.
The Government sanctioned Abramovich after claiming to have proved his direct links to Vladimir Putin’s Russian regime, although Chelsea’s owner has always denied any association.
The Raine Group’s progression of the sale means Chelsea’s suitors can again push forward with their bids to take control of the European and world champions of the club game.
Abramovich was understood to have been ready to work with Government oversight on the sale and, now the Raine Group has completed suitable checks, the interested parties can press on.
Source: SkySports
