Time for the Tuchel club is running out
Abramovich creates a new stir for Chelsea
05/04/2022 12:07 p.m
The British government’s sanctions against Roman Abramovich also affect Chelsea. The English Premier League club will operate with a special license until the end of May. Then the club must be sold. A new demand from the Russian oligarch is now causing Westminster headaches.
The sale of the traditional English club FC Chelsea is on the brink. The Russian oligarch Roman Abramovich, still the owner of the current Champions League winner, could reclaim his loans of around 1.9 billion euros. Originally, the Russians, who were subject to sanctions, had announced that they would refrain from doing so. It was always about “pure passion”, he announced at the beginning of March. He also stated that he would pass on the net proceeds from the sale to the victims of the war in Ukraine. He did not explicitly name any side and thus did not rule out passing it on to Russian veterans.
As reported by the English media, Chelsea is said to have approached the British government last week with a request for a restructuring of sales. Accordingly, the debts of the club’s parent company are to be settled with a Jersey-based company apparently linked to Abramovich. Much to the astonishment of the Ministry of Digital, Culture, Media and Sport responsible for sales.
That must also ensure that the oligarch, whose assets have been frozen by the UK government, does not personally benefit from the sale. This should also be taken into account in the new sales structure. According to the media reports, some members of the government are demanding guarantees that the repayment of the loan will not go to a sanctioned entity. However, the practical implementation of the deal is uncertain.
The clock is counting down
The Guardian reports growing distrust in the British government about the sale, while at the same time worrying about the future of the Premier League club. “Time is running out,” said British culture minister Nadine Dorries last week. She was referring to the government’s special license for ongoing gaming operations, which expires on May 31, 2022. The concern now is that the sale of the club will not be completed by the time the new Premier League licenses are issued in mid-June.
Last week, the three remaining bidding groups made their presentations at Chelsea, where a decision must now be made on who will be the new owners of Stamford Bridge. The best chances are currently attributed to a consortium led by US entrepreneur Todd Boehly. He is currently Chelsea’s preferred bidder for the club, beating out two other US consortia. The consortium around Boehly wants to negotiate a purchase of the club with Abramovich this week.
However, a last-minute offer from British billionaire Sir Jim Ratcliffe could change the mood. The 69-year-old CEO of the chemical company Ineos threw his hat in the ring late and made an offer of a good five billion euros. “This is a British offer for a British club,” explained Ratcliffe. “We would continue to invest in the side to ensure we have a quality squad with the best players, coaches and support staff in the world, both male and female in the women.”
The unclear future of the club is also a major concern for German coach Thomas Tuchel. Chelsea remain unable to act until they are sold, are not allowed to sign any players or extend any contracts. So Tuchel fears for the competitiveness of the blues. With the German national player Antonio Rüdiger and the Dane Andreas Christensen, two free transfer departures are already almost certain.
Rudiger is set to join Real Madrid and Christensen, his partner in central defence, is in talks with FC Barcelona. The Catalans are hoping for more transfers from London. With Christian Pulisic, Hakim Ziyech, Timo Werner and Romelu Lukaku, four offensive players could leave the club. “Of course our hands are tied now. We can still hold talks internally, but we cannot act. The situation is not ideal,” said Tuchel last week and the situation has not changed.