Abramovich and UK government ‘find legal resolution’ to finalise Chelsea sale

Roman Abramovich and the UK government have found a ‘legal resolution’ that should see Chelsea sold before the end of the month despite concerns over what happens to the £1.6billion the Russian loaned the club.The oligarch has promised to effectively write off the debt and donate all proceeds to victims of the war in Ukraine, though the government were wary of a potential attempt to ‘divert’ the funds.It is understood that Abramovich has requested that the £1.6bn debt is repaid in full before being placed in a frozen account and then transferred to his new charity foundation.Roman Abramovich and UK government ‘find legal resolution’ to finalise Chelsea saleAbramovich will give legal assurances over his debt donation (Picture: Getty)But that plan was greeted with scepticism, with a Whitehall insider telling the BBC: ‘Two big sticking points remain – where exactly the proceeds of the sale will be held, and what legal guarantees government will be given about the money going to good causes.’However, those concerns appear to have been allayed with PA News reporting that Abramovich and the government have found a binding legal resolution that will now usher through the sale of the club.The respective parties have found ‘common ground’ on how to handle the £1.6bn debt to the Chelsea owner which would prevent him from reneging on his promise to give the money to victims of the war in Ukraine.