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This is fucking hilarious, really thought this might pan out.

As above, the govt will probably find a loophole but the longer this drags, the better
 
The fudge to get the deal done - if the only point at issue is who gets the funds from the sale (both equity and debt) - is to stipulate the funds go into a certain bank account (UK govmt might well say Bank of England) with control of its dispersal being made by a committee, (a few nominees from RA eg Buck the Chelsea chairman plus half a dozen uk nominees).

That's kicking the can down the road.

Of course RA might not be happy as despite him agreeing proceeds could go to 'victims of Ukraine war' ........ which many suggest RA thinks of as the injured/dead from russian army rather than ukrainan - as he wants the money and is concerned the funds might end as being given to Ukraine as part of the funds to rebuild it.

So documenting that 'fudge' could take a little time ..........

and RA might well be gambling UK government won't want to put a PL club into administration ......

That’s the whole point of this leak though. I don’t think the government want to do anything remotely like that. They probably suspect the beneficiaries of Camberley is Abramovich and don’t want any part of that to filter through to him. If it does then they’ll be buried in legal claims from other sanctioned oligarchs to do the same with their money. The government are already helping Chelsea massively, they can’t do much more than they are.

There is also obviously massive worry that they are going to run out of time. It’s less than a month until the PL meeting. If the sale isn’t completed by then they are truly fucked.
 
That’s the whole point of this leak though. I don’t think the government want to do anything remotely like that. They probably suspect the beneficiaries of Camberley is Abramovich and don’t want any part of that to filter through to him. If it does then they’ll be buried in legal claims from other sanctioned oligarchs to do the same with their money. The government are already helping Chelsea massively, they can’t do much more than they are.

There is also obviously massive worry that they are going to run out of time. It’s less than a month until the PL meeting. If the sale isn’t completed by then they are truly fucked.

Camberley only became active a couple of years ago, all the funding used to be through a BVI registered company that was well known to be an RA vehicle - and I'm pretty sure the uk government will know Camberley (in last couple of years the lender to Chelsea) is just another RA vehicle.

And the only way the deal can work is if the 'Sale and Purchase' Agreement instructs the buyers to pay the purchase money into a bank account not in a company controlled by RA - and to be sure of that it has to be a new bank account in a new concern (or trusted place such as Bank of England).

I'm surprised that Raine (investment bank handling the process) didn't have the handling of the proceeds nailed down as its such an obvious issue in this - I'd have got RA to sign a letter agreeing how it was going to work.
 
Hope a last minute bid comes in from mike ashley to buy chelsea. And have sports direct plastered
all over their ground. Looks like its falling apart anyway.
wonga-have-been-announced-as-the-new-sponsor-of-newcastle-united-900601391.jpg
 
Woolwich falling apart, Chelsea going out of business.
United spiralling into nothing.
West Ham providing comedy value towards the end of the season as they end with conference league football.

If Putin decides to blow up the world then I will concede that the existence of Spursy is a very very real thing.
 

Government believe Roman Abramovich is ultimately willing to let Chelsea GO UNDER with their £4.25bn takeover now in doubt in an alarming row over sale structure - and disaster just 16 days away​

  • Chelsea's sale to a Todd Boehly-led consortium has been thrown back into doubt
  • Roman Abramovich is refusing to accept a sale structure from the Government
  • Ministers are proposing for the proceeds to be placed into a holding account
  • They are then calling for it to go to a foundation for victims of the war in Ukraine
  • Abramovich wants his £1.6bn loan to go to Camberley International Investments
  • He then plans for it to go to the foundation, but the delay is a major concern
By DANIEL MATTHEWS FOR THE DAILY MAIL

PUBLISHED: 16:46 BST, 16 May 2022 | UPDATED: 22:39 BST, 16 May 2022

The proposed sale of Chelsea has been plunged into fresh doubt, with the government now 'seriously concerned' that Roman Abramovich would be 'willing to let Chelsea go under'.

A consortium led by US investor Todd Boehly have agreed terms on a £4.25billion takeover to end the Abramovich era but there is now 'alarm' among ministers that the deal may be at risk of 'falling apart' over the oligarch's alleged 'refusal to agree' to a proposed sale structure.

With the final deadline for a deal to go through a fortnight away, negotiations have hit another snag over the £1.6bn owed by Chelsea's parent company, Fordstam Ltd, to Jersey-registered Camberley International Investments, a company with suspected links to Abramovich.

The government say they have been 'clear all along' that they will not countenance any deal that could possibly see some money end up in Abramovich's pocket.

It's understood ministers proposed that funds from any sale would be kept in a holding account, and released only once they are satisfied the money can go to a foundation to help victims of the Ukraine war.

Abramovich recently denied he was going back on a pledge to write off the debt but on Monday a government source suggested that 'despite committing to all proceeds going to good causes in public, Abramovich seems unwilling to give the same legal commitments.'

A government source added: 'Two big sticking points remain - where exactly the proceeds of the sale will be held, and what legal guarantees government will be given about the money going to good causes... 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.'

Chelsea are operating under a special licence after Abramovich was sanctioned following the invasion of Ukraine, over his alleged links to Russian president Vladimir Putin.

That licence expires on May 31, with any deal requiring sign-off from ministers and the football authorities.

A government source said they will continue to talk and work through the complexities of the takeover.

But there is now 'quite serious concern in government that the deal may fall apart and that Roman Abramovich is ultimately willing to let Chelsea go under.'

They added that 'a good chunk of the sale' needs to be completed this week or next, with deadlines looming 'which would either see the club booted out of European competition or the Premier League entirely.'

May 31 is also the final day for the club to be registered for European competitions next season, while the Premier League will meet in early June to grant clubs the licenses required to play next season.'

Sportsmail contacted Chelsea and sources close to Abramovich for comment.
 
Seems like that leak from the government last night was a ploy to get Abramovich to agree to the escrow account, which he doesn't want to do. He wants to go to a "foundation" or "charity". Not sure I'd be very trusting of who he says the beneficiaries of those are and neither it seems are the government. If they don't iron that out then I reckon the deal will fall over. It's who will blink first with one outcome being Chelsea going under. Might be unlikely but it is definitely on the table if they don't come to an agreement on where the money goes.
 

Herclueless

Tier 1 - Trust me bro'
Seems like that leak from the government last night was a ploy to get Abramovich to agree to the escrow account, which he doesn't want to do. He wants to go to a "foundation" or "charity". Not sure I'd be very trusting of who he says the beneficiaries of those are and neither it seems are the government. If they don't iron that out then I reckon the deal will fall over. It's who will blink first with one outcome being Chelsea going under. Might be unlikely but it is definitely on the table if they don't come to an agreement on where the money goes.
This notion that the Gvt will feel under pressure to blink first to save the club, are the politicians so out of touch with reality that they don't realise just how popular destroying that football club would make them to anybody that cared about football?

They might lose the Chavski vote, but fuck me if I wouldn't give Bozza another 4 years if snapped them out of existence!
 
Seems like that leak from the government last night was a ploy to get Abramovich to agree to the escrow account, which he doesn't want to do. He wants to go to a "foundation" or "charity". Not sure I'd be very trusting of who he says the beneficiaries of those are and neither it seems are the government. If they don't iron that out then I reckon the deal will fall over. It's who will blink first with one outcome being Chelsea going under. Might be unlikely but it is definitely on the table if they don't come to an agreement on where the money goes.
Govt arent going to budge, of course, why would they? So making sure public know whos fault it is if it falls apart. Not the govt but the russian oligarch. I hope it falls apart but i suspect Abramovich will concede, what else can he do?
 
Govt arent going to budge, of course, why would they? So making sure public know whos fault it is if it falls apart. Not the govt but the russian oligarch. I hope it falls apart but i suspect Abramovich will concede, what else can he do?
If he concedes he might have bigger problems in Russia. Wouldn't be surprised if he is doing as instructed.
 
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