Proceeds from Chelsea sale lie 'frozen' in a UK bank account.
According to Daily Mail Online, Roman Abramovich has decided to sell Chelsea as he gears up to deal with the sanctions that could come his way due to Russia’s invasion of Ukraine. Uncertainty surrounds the club’s future due to the chief’s ties to the current regime in his home country following the declaration of war.
Abramovich is looking to facilitate a quick sale of the Blues after he attempted to hand “stewardship and care” to the club’s charitable foundation trustees. He wanted to protect the club in that attempt but was met with demands of an impenetrable indemnity policy from the trustees. They wanted to ensure that any financial ramifications would not fall on their head while in charge of the club.
Moreover, the Charity Commission also made contact with the West London side to convey their concerns over the technicalities involved. As such, the Blues chief will look to sell the club and has demanded a minimum of £3billion for the ownership. He believes Chelsea is worth as much as £4billion but is forced to reduce the price under the circumstances.
It is unfortunate how things have tuned out over the past week or so. We cannot blame the government either as they are simply trying to put pressure on Vladimir Putin, Russian President, by making life difficult for the Russian tycoons. And we are forcibly dragged into this due to Abramovich’s links to the current regime.
This piece of information is further backed by Swiss billionaire Hansjorg Wyss who has admitted that he was offered the club’s ownership. Wyss even added that three others have also been offered the reins to become the clubs’ new owners. Moreover, he was adamant that he would not be able to do this alone and would need to form a consortium with others.
Plus, concerns have already emerged over Abramovich’s asking price as it is deemed too expensive right now. Regardless, a sale to an American oligarch through hedge funds is considered to be the best approach, but it remains to be seen whether that will occur or not.
The supporters are in a bit of a panic due to the current situation as well. After all, there is a possibility that the club would be affected by Abramovich’s ownership. While we are fully against what Russia is doing at this instant, there is a consensus that we should suffer from something that is out of our hands either.
Let’s hope that the club officials would be able to safeguard our interests so that the club can be run regularly, at least on the sporting side of things. We have to wait and see how this situation pans out in the future in the current volatile environment. Whether a sale can be finalised or not would only be known in due time.
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