Chelsea Takeover Could Be Completed Within A Week

Todd Boehly's takeover of Chelsea could be completed by the end of the week or early next week, as per Goal.com's Nizaar Kinsella.

It has been revealed that the recent hold-up in the takeover process was due to the UK government wanting legally binding promises of where the funds from the sale would go to.

An insider source for the BBC revealed: “Essentially, despite committing to all proceeds going to good causes in public, Abramovich seems unwilling to give the same legal commitments, which would have backed up his public statements of about a week ago, that in the deal neither he nor his affiliates could try and stake a claim to that unpaid debt between Fordstam and Camberley.

“A deal which would allow the cash to be diverted during the deal would be a breach of sanctions and is seen as a red line for ministers.

“There are deadlines at the end of this month and the start of June, which would either see the club booted out of European competition or the Premier League entirely. But a good chunk of the sale needs to be done this week or next.”

Now, a suitable structure is in place to allay the government's concerns and the deal is likely to be completed well before the deadline for Chelsea's special governing license expires, which is 31st May.

Source: Tribuna