This is the last article you can read this month
You can read more article this month
You can read more articles this month
Sorry your limit is up for this month
THE government is yet to agree any terms on the sale of Chelsea, the PA news agency reported today.
Lawyers for Roman Abramovich and the government are understood to remain in talks on how to handle the Stamford Bridge club’s £1.5 billion debt to the Chelsea owner.
Abramovich has wanted to write off that debt, but government sanctions over the owner’s connections with Russian President Vladimir Putin blocked that process amid frozen accounts.
The waters have been muddied by Chelsea’s murky debt arrangements, which involve a Jersey-registered firm, out of reach of British regulations — and Whitehall chiefs are understood to have raised repeated concerns that Abramovich would renege on his pledge to waive those loans. They are understood to be seeking legally binding assurances that Abramovich will in no way benefit from Chelsea’s sale.
Abramovich’s lawyers are understood to be confident that their latest proposals will prove acceptable to Whitehall — and bearing in mind the current incumbent of No 10’s record on ripping up the rule book, why wouldn’t they be?
Los Angeles Dodgers co-owner Todd Boehly struck a purchase agreement to buy Chelsea for £4.25bn earlier this month, after an ultra-competitive and uniquely public race to buy the club. The US magnate met Chelsea managers Thomas Tuchel and Emma Hayes last week and will now hope to complete the takeover with little further delay.
The Premier League must give the final sign-off on Boehly’s consortium via its less-than-stringent owners’ and directors’ tests before the government issues a new licence to allow the sale to complete.
Government approval for the sale should also give the green light for Abramovich’s plan for the sale proceeds to be donated to a new charitable foundation.
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by joining the 501 club.
Just £5 a month gives you the opportunity to win one of 17 prizes, from £25 to the £501 jackpot.
By becoming a 501 Club member you are helping the Morning Star cover its printing, distribution and staff costs — help keep our paper thriving by joining!
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by become a member of the People’s Printing Press Society.
The Morning Star is a readers’ co-operative, which means you can become an owner of the paper too by buying shares in the society.
Shares are £10 each — though unlike capitalist firms, each shareholder has an equal say. Money from shares contributes directly to keep our paper thriving.
Some union branches have taken out shares of over £500 and individuals over £100.
You can’t buy a revolution, but you can help the only daily paper in Britain that’s fighting for one by donating to the Fighting Fund.
The Morning Star is unique, as a lone socialist voice in a sea of corporate media. We offer a platform for those who would otherwise never be listened to, coverage of stories that would otherwise be buried.
The rich don’t like us, and they don’t advertise with us, so we rely on you, our readers and friends. With a regular donation to our monthly Fighting Fund, we can continue to thumb our noses at the fat cats and tell truth to power.
Donate today and make a regular contribution.