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Chelsea’s future in danger as Abramovich makes u-turn on £1.6bn debt promise

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SPORTS NEWS: Chelsea’s future in danger as Abramovich makes u-turn on £1.6bn debt promise [New Sports News] » Naijacrawl
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According to the UK Times, the sale of Chelsea Football Club has encountered a block due to fears that owner Roman Abramovich may back out of his agreement to write off the £1.



6 billion he owes.

A partnership led by LA Dodgers part-owner Todd Boehly was chosen as the preferred bidder after a nearly two-month bidding process.

Raine Group, a US merchant bank, has offered the Boehly group a 5-7-day exclusivity period to complete the deal.

But now there's a new twist in the story.

Abramovich had stated that he "would not be asking for any loans to be repaid" when announcing his decision to sell Chelsea, but it is believed that his position has since changed.

Late last week, Chelsea told both the government and rival bidding groups that they wanted to restructure the way the club is being sold with debts of £1.6bn paid off to Jersey-based company Camberley International Investments, which appears to have links to Abramovich.

This has created a major issue, with the UK government having only approved the sale of Chelsea under the condition that Abramovich does not profit in any way.

Ministers had also been under the impression that any proceeds from the sale would be given over to the government, who would then use them to help victims of the war in Ukraine.

If Abramovich has effectively reneged on his promise to write off the £1.6bn in loans he has pumped into the club, it would not only make Chelsea an infinitely less attractive proposition for prospective buyers but it will prolong the sale process even further and create massive questions over the future of the club.

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Ojo Sunday Victor, A Professional Graphics Designer, and a skilled Content Writer in Entertainment, News and Sport Update.!An Undergraduate in Ladoke Akintola University of Technology (LAUTECH, Ogbomoso). Read More

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FIFA makes U-turn on 48-team plan for World Cup in 2026

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SPORTS NEWS: FIFA makes U-turn on 48-team plan for World Cup in 2026 [New Sports News] » Naijacrawl
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FIFA president Gianni Infantino has said that the international football governing body may not be moving forward with the 48-team plan for the World Cup in 2026.Before the new announcement, there was a plan to increase the number of teams competing in the tournament by changing the group format from eight groups of four to 16 groups of three.Speaking at a press conference ahead of the World Cup final this Sunday, December 19, Infantino implied that the 48-team plan...
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Dybala makes U-turn, to join EPL club

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SPORTS NEWS: Dybala makes U-turn, to join EPL club [New Sports News] » Naijacrawl
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Argentina international Paulo Dybala has made a transfer U-turn amid interest from Premier League clubs.Dybala is now willing to consider a move to the Premier League, opening the door to the possibility that he could replace forward Cristiano Ronaldo at Manchester United.The 28-year-old has been without a club since leaving Juventus at the end of his contract this summer.His preference had been to remain in Italy, with Inter Milan widely considered the front-runner...
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Next four weeks already danger for you – Ten Hag warns Man United star

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SPORTS NEWS: Next four weeks already danger for you – Ten Hag warns Man United star [New Sports News] » Naijacrawl
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