Will Chelsea find a new owner to save the club before the end of the season?
FT Desk
- Updated: 14 Mar 2022 15:55 GMT
- 8 min read
Up until a few weeks ago Chelsea were one of the most established and well-resourced clubs in all of European football.
However, following Russia’s invasion of Ukraine, the owner of the Stamford Bridge side, Roman Abramovich, has been sanctioned by the British government.
Trending
Not only has that cut off the Russian billionaire from the club that relied so heavily on his finances to pay the bills every year, but it has also frozen the club’s credit cards and any income streams.
With a wage bill that runs to around £28 million per month and a business that relies on buying and selling players in every transfer window, Chelsea’s need for a new owner is undoubtedly an existential dilemma.
So should fans hold out much hope of a new owner arriving to keep the lights on at Stamford Bridge before the end of the season?
Can Chelsea be sold why Abramovich is under sanctions?
As things currently stand, Chelsea can’t not be sold because the original terms of the sanctions by the British government completely rules out Abramovich receiving money from the company.
However, the British authorities have since agreed to issue a special licence which has allowed Chelsea to continue operating and there is hope that a new licence will be granted that will allow for the sale of the club, if the profits from such a transaction go into a charitable organisation or into a frozen account.
Such a sale would have to carefully follow the rules of this new licence, but in theory Chelsea could be sold while Abramovich is still being sanctioned by the British authorities.
Can it happen before the summer transfer window?
According to the BBC, there is a growing belief that Chelsea could be sold to a new owner by the end of March.
The deadline for potential bidders has reportedly been extended until Friday 18 March, with a quoted 20 credible parties hoping to make a bid for the club, according to the British broadcasters.
Much of this new-found optimism has come from a letter that was issued on Saturday by American investment firm Raine Group - who are in charge of selling the club - which stated that it would be "moving forward with the sale process".
"We understand that the successful closing of the sale of Chelsea football club will require a special licence to be approved by the UK government, approving both the source and use of funds,” read the statement.
"We will work with authorities in the UK to obtain that licence in connection with any transaction."
The quickest sale in Premier League history took just 10 days to finalise and get over the line, so if a new licence can be issued, a proper owner can be found and a fee agreed, then it stands to reason that Chelsea could have new owners long before the season comes to and end.
