Roman Abramovich disqualified as a director by Premier League as he 'gives green light' for sale of Chelsea to go ahead
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Updated 12/03/2022 at 13:24 GMT
Chelsea have had a tough few days following the UK government's decision to place sanctions on owner Roman Abramovich. The move placed the club's ongoing future in doubt, and also put the brakes on a proposed sale of the Blues. But it has been reported Abramovich and Downing Street have reached agreement for a sale to take place.
Roman Abramovich, owner of Chelsea smiles following his team's victory during the UEFA Champions League Final between Manchester City and Chelsea FC at Estadio do Dragao on May 29, 2021 in Porto, Portugal
Image credit: Getty Images
After a couple of days of turmoil, Chelsea have been handed some positive news with a report claiming Roman Abramovich and the UK government have reached agreement for a sale to progress, but the owner of the club has been disqualified as a director by the Premier League.
Chelsea’s future as a going concern was plunged into doubt on Thursday when the government placed sanctions on Abramovich.
The club are limited in how they can operate at present, their shirt sponsor Three suspended its deal with the club and Barclays placed a temporary freeze on the Blues’ bank accounts.
Talks have been taking place between club and government officials, and the Telegraph says terms have been agreed over a sale - albeit a doomsday scenario was presented in which the club could fold.
According to the report, the government’s preference is for a quick sale and that Abramovich has instructed American bank The Raine Group to press ahead.
A deadline of next week has been put forward for prospective bidders to submit offers.
The announcement of a sale possibly taking place was followed by the Premier League confirming it had disqualified Abramovich from being a director of the club.
"Following the imposition of sanctions by the UK government, the Premier League Board has disqualified Roman Abramovich as a director of Chelsea Football Club," read a Premier League statement. "The Board’s decision does not impact on the club’s ability to train and play its fixtures, as set out under the terms of a licence issued by the government which expires on 31 May 2022."
With regard to the sale, British businessman Nick Candy is reported to be in the frame, while Swiss billionaire Hansjorg Wyss has also expressed interest in buying the club.
There is also interest from America in the shape of Woody Johnson, the owner of NFL team the New York Jets, and the Ricketts family, who own MLB side the Chicago Cubs, while Turkish businessman Muhsin Bayrak has also confirmed he has put forward a proposal.
Away from the off-field turmoil, Chelsea are back in Premier League action with a home game against Newcastle in the Premier League on Sunday.
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