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Chelsea sale runs into problems

The takeover of Chelsea has run into last minute problems after the government clashed with Roman Abramovich over the terms.   Ministers are concerned that Abramovich has upped his demands in the last few days.

The fundamental issue is Chelsea's complicated ownership structure and the determination of ministers that every penny from the sale is allocated to good causes.  Abramovich's side have earmarked the money for an independently administered charity for victims of the war in Ukraine.   Ministers want the £2.5bn to be held in an escrow account until they are convinced that a charity is equipped to securely manage the money.

According to government sources Abramovich is not matching his verbal commitments on the sale with acceptable legal undertakings.   The special licence only runs until the end of May and the dispute could threaten Chelsea's ability to operate.

May 31st is the deadline for registering for European competitions while the Premier League issues shares for clubs to compete in next season's competition on May 8th,  

A source closed to Abramovich described the Government's position as 'nonsense'.


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