Roman Abramovich ‘CAN SELL Chelsea despite sanctions’, Blues ‘face financial ruin’ as Barclays freeze club’s account

Hello Chelsea fans

Chelsea owner Roman Abramovich has given the go-ahead for the sale of the club to go ahead with offers which are now expected to be considered by the end of next week.

According to the Daily Telegraph, Abramovich has asked New York-based investment bank Raine to go through with the sale, although it has been hit with sanctions that effectively take it out of the process.

This is very promising news for fans as the Blues faced financial ruin if the Russian oligarch halted the sale.

Raine and the west Londoners have held talks with the UK government on how the sale can proceed and have agreed that the preferred bidder as well as the use of proceeds from the sale will require government approval.

But Abramovich had 81 days to sell the team or risk the club folding, according to SunSport’s Martin Lipton.

Chelsea face a £106m financial black hole, with shirt sponsors Three suspending their £40m-a-year deal and £66m in Premier League and UEFA prize money set to be withheld .

And the ‘licence’ which will allow the club to play until the end of the season will not be renewed unless Abramovich, who has valued the club at £3billion, accepts a sale and walks away with nothing. a cent.

The Blues have been told a deal needs to be done before the license expires on May 31 to ensure the club’s survival.

And Chelsea have received three offers from American-led groups looking to buy the club amid sanctions imposed on owner Abramovich.

According to the Telegraph, Raine has received nearly 150 inquiries, but so far three have emerged as the most serious and all come from the United States.

Todd Boehly, along with Hansjorg Wyss and another businessman, made a formal offer of between £2-2.5billion.

The other two parties are the Ricketts family, who own the Chicago Cubs, and New York Jets bigwig Woody Johnson.

However, Chelsea’s bank accounts have reportedly been frozen to leave them in financial limbo.

That’s according to The Times, which says sources at the Premier League club, which have been given a license to continue operating, have ‘warned that the club’s business accounts, including credit cards, have been frozen. because banks are “risk averse”. ‘.

The source was quoted as saying: “The license allows the club to carry on with day-to-day business but the banks are not risk averse for that.

“They froze some of the corporate credit cards. It puts a lot more pressure on the club.”

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