TalkSPORT pundit reacts to £1.6bn debt issues in Chelsea sale process

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TalkSPORT’s Simon Jordan insisted that the issues surrounding Chelsea’s sale process and emerging deadline concerns shouldn’t be as complicated as they are.

Recent reports suggest the consortium led by LA Dodgers co-owner Todd Boehly have become Chelsea’s preferred bidder and have entered an exclusive period to sign a purchase deal.

However, there are growing concerns whether the sale will go through by the time the special license Chelsea operate under expires.

Sky Sports claim that in the worst-case scenario, the Blues “could go bankrupt”.

Jordan downplays such a possibility and argued that the government has already proven they are willing to compromise to keep Chelsea afloat over the past few months.

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“The date is May 31 – it’s a deadline that they [the government] I would like you to complete the transaction because of the funding mechanism,” the former Crystal Palace chairman said. talkSPORT.

“[But] they have already changed the license once to allow Abramovich to deposit an additional £30m to be able to fund player salaries, [so] they can change the time frame.

“It’s a tough deadline, but like everything else, if they want to change it, in the same way they’ve changed the terms of trade to allow [Chelsea] to have revenue from away tickets, they can change the date.

The final issue that could delay the sale is Abramovich’s reported plan to recoup £1.6bn which he originally wanted to cancel through Camberley International Investments, which is believed to be under his control.

However, the government specifically said it would not allow any proceeds from the sale to go to anyone sanctioned.

Keep in mind that Chelsea will need to apply for another license to complete the sale process.

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Jordan believes that no matter where the money goes, it shouldn’t affect Chelsea as a football club at all.

“If Roman Abramovich plays hard and fast on how the money is distributed, the government [should] intervene and exercise executive control over the sale of Chelsea Football Club,” he explained.

“It will be sold to someone else at market value, between £2.5 billion and £3 billion.

“The profits will then be withdrawn and deposited in a closed environment where no one has them.

“The argument will then come about what will happen to that money, but then the club will continue under new ownership.”

Keep up to date with all the latest Chelsea news and views by following The Chelsea Chronicle Facebook and Twitter accounts.

A Chelsea fan who loves football stats. Studied sports journalism at the University of Sunderland.

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