Abramovich overturned the agreement not to write off the debt of 1.6 billion pounds, the Chelsea acquisition was in danger of collapse

The Chelsea acquisition ran into serious trouble because of concerns that owner Roman Abramovich would not write off his £1.6 billion debt.

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According to The Times, Abramovich is said to be “trying to waive his promise to write off a debt of £1.6 billion” to Chelsea, although he will not demand repayment of any loans when the club is sold. The reason is because the Russian tycoon thinks that the sanctions of the British Government are preventing him from writing off the debt for the Stamford Bridge team.

Abramovich wants to collect £1.6 billion loan for Chelsea

The news comes as Britain’s richest man, Sir Jim Ratcliffe, remains hopeful of owning Chelsea after submitting a £4.25billion bid last week, but American investor Todd Boehly remains take advantage.

Sources from investors, not including Todd Boehly, say they were told the Chelsea loan needed to be repaid to Abramovich just days before making the final offer.

The Times added that the British Government is concerned about Chelsea’s ability to compete for titles next season if a buy-back deal is not done in time to protect the future of the club. Chelsea is currently operating on a “special license” from the British Government, which is valid until May 31.

Meanwhile, Boehly is currently in five days of negotiations to buy Chelsea, after the offers of two investors Steve Pagluica and Sir Martin Broughton were rejected last week.

But according to the Evening Standard, Ratcliffe’s offer is seen by insiders as a “viable option”, with US commercial bank Raine Group still in the process of finding a new owner to take over from Abramovich. .

The Evening Standard detailed that Ratcliffe is said to have bypassed Raine Group in making its offer to buy Chelsea, thus avoiding initial complications. In fact, Ratcliffe had been interested in taking over at Stamford Bridge even before he was involved in the bidding process.