The current status of Chelsea Football Club is as uncertain as it has been since Roman Abramovich took over the Blues back in 2003. With talks ongoing for the sale of the club to the a consortium led by Todd Boehly, it is believed that Abramovich has changed the terms of the deal.
Following the British Government sanctions against Russian nationals, under which Abramovich falls, the 55-year-old and Chelsea have been given until the end of May to complete a sale or risk losing their operating licence. That leaves just under four weeks for what is likely to be a multi-billion deal to be completed.
According to a report that appeared in The Times on Tuesday afternoon, Abramovich may want his £1.6b loan that he granted the club paid back to him. Initially, the current Chelsea owner had promised to write off the loan and give any profits from a sale to victims of the Ukraine conflict, but it seems he has changed his tune.
If this were to be the case, it would obviously become a much less attractive investment for any buyers. The Mirror reported that Sir Jim Ratcliffe had come in with a last minute bid of around £4bn, which is not currently being considered as the current bidders have exclusive rights to negotiate a deal.
However if that figure close to what the Todd Boehly bid is, then taking on £1.6b of debt could increase the cost of the deal by 40-50%.