Chelsea’s takeover is nearing completion after a legal resolution to a possible stumbling block to the agreement was uncovered.
To put an end to the Roman Abramovich era, a team led by US billionaire Todd Boehly has signed negotiations on a £4.25 billion buyout.
However, UK Ministers were concerned that the agreement may “fall apart” due to Abramovich’s reported “refusal to agree” to a suggested selling structure.
UPDATE: Era of Roman Abramovich Comes To An End As Todd Boehly Takeover Chelsea
Negotiations appeared to have reached another hitch over the £1.6 billion owing by Chelsea’s parent company, Fordstam Ltd, to Jersey-registered Camberley International Investments, a business with alleged ties to Abramovich, with the last deadline for a resolution only two weeks away.
However, according to The UK Times, citing a source close to Abramovich, the Russian tycoon asserted on Tuesday evening that attorneys had reached an agreement that would satisfy Government authorities.
As a consequence of the settlement, the government may now allow the sale to proceed.
The Premier League is reportedly close to approving the takeover, bringing an end to a tumultuous time for the club, which was thrown into disarray by sanctions imposed on Abramovich following Russia’s invasion of Ukraine.
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