The Chelsea FC sale to the consortium led by Los Angeles Dodgers Owner Todd Boehly still faces some obstacles, but at least other hurdles are now being cleared. According to ESPN’s sources, the bid led by Boehly “is expected to pass the league’s Owners and Directors’ Test (OADT) in the coming days.” The talks are ongoing, so it’s not totally green-lighted by the league yet, but it’s getting there.
The ESPN report also goes on to say that “a key stumbling block remains as talks between Roman Abramovich and the U.K. government continue.” The issue remains over that massive 1.5M (also reported to be 1.4 million or 1.6 million, depending on the outlet) GBP debt, but other news outlets claim some progress on this front.
Chelsea FC vs Leicester City FYIs
Kick: 8pm GMT, Thur May 19, Stamford Bridge
Chelsea Preview Material: Team News Starting XI Prediction
After Extra Time Podcast: Spotify Apple Pods
Google Result Probability: Chelsea 70% Draw 18% Leicester City 12%
Premier League Position: Chelsea 3rd, 70 pts Leicester City 9th, 48pts
Premier League Form: Chelsea WDLDW Leicester City WWLLD
According to The Times of London, a “legal resolution” was found for the £1.6b debt owed by Chelsea’s parent company, Fordstam to Roman Abramovich, which was held by Jersey-based Camberley Investments. Being a firm based in Jersey, they are outside the authority of the United Kingdom government, but the Jersey government has also sanctioned Abramovich in the wake of Russia’s invading Ukraine, so the Russian oligarch isn’t totally escaping accountability here for his being Vladimir Putin’s proverbial favorite son.
Jersey is a self-governing parliamentary democracy under a constitutional monarchy, with its own financial, legal and judicial systems, and the power of self-determination.
They are not beholden to Boris Johnson, The Queen or anyone else in England, and thus the involvement of the Channel Island “nation” might expedite the process here.
That is exactly what the ultra-wealthy do with regularity: when they don’t get what they want from their own home country’s federal governments, they instantly take things off shore. And while the the Premier League is set to approved the sale to Boehly “imminently,” the government/debt issues could hold this thing up for awhile yet.
We’ve seen the Chelsea sale “on the verge of collapse” before then being “almost set to go through” within the last 24-48 hours.
What a long strange trip the Chelsea sale saga has been and you can expect more twists and turns yet to come.
Paul M. Banks is the owner/manager of The Bank (TheSportsBank.Net) and author of “Transatlantic Passage: How the English Premier League Redefined Soccer in America,” as well as “No, I Can’t Get You Free Tickets: Lessons Learned From a Life in the Sports Media Industry.”
He has regularly appeared in WGN, Sports Illustrated and the Chicago Tribune, and he co-hosts the After Extra Time podcast, part of Edge of the Crowd Network. Follow him on Twitter and Instagram.