MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE
The former UNICEF chief executive asked the government to approve Todd Boehly’s £ 4.25 billion takeover of Chelsea and insisted Roman Abramovich it will not benefit from worrying that the business could collapse.
A consortium led by a U.S. investor has agreed on the terms for ending Abramovich’s era at Stamford Bridge, but there was an “alarm” among ministers on Monday that the deal would “fall apart” due to the oligarch’s alleged “refusal to consent”. proposed sales structure.
As the deadline for the deal expired in fourteen days, negotiations ran into another hurdle over the £ 1.6bn owed by Chelsea’s parent company, Fordstam Ltd, Jersey-registered Camberley International Investments, a company allegedly linked with Abramovich.
The government says it has been “clear” to them all along that they will not accept any deal that could end up with some money in Abramovich’s pocket.
Former UNICEF chief executive Mike Penrose has been tasked with setting up a new independent foundation to which owner Abramovich wants to donate all proceeds from the sale of the Blues.
And now he has called on the government to allow the takeover to progress, and insisted that “lives are at stake” while the brutal conflict continues.
He also insists he would never have taken on that role if Abramovich or his associates could have influenced the charity when it is finally established.
The purchase of Chelsea’s Todd Boehly for 4.25 billion pounds is expected to be approved by the Premier League
The takeover was again in doubt on Monday, as Roman Abramovič rejected the sales structure
Penrose has provided the government with a “scope document” outlining plans for “the world’s largest humanitarian or charity-affected charity” and how it will operate.
He insisted he had never had direct contact with Abramovich, and revealed legal obligations to ensure that neither Chelsea nor the current owner of the Blues would ever benefit from the funds donated to the foundation.
Penrose said: “The only thing between making this a reality, and now, is politics.
“I’m not at all interested in sales policy. I am not interested in government policy. If politics is an obstacle, then it is almost criminal for me, it is true.
“In a document that went to the government, I wrote that no one who has ever been associated with an owner-affiliated club can or will ever receive financial benefits.
“And that would go into the statute of the foundation. This is stated in a document that is now in the hands of the government.
“I wrote an overview, a framework document on the foundation, on what we want to achieve, and an initial budget for setting things up and running and allocating money.
Former UNICEF chief executive Mike Penrose (left) has vowed that Roman Abramovich will not benefit
“I’d like to say I was confident, but I’m nervous about the politics of all this.
“I have spent my whole life in humanitarian aid and I am very worried that politics could come out of this instead of decent humanitarian action.
On the other hand, I also hope that this government sees the opportunity it has here. The government could set up a world-leading humanitarian foundation.
“I am ready to stand before any government committee, commission, whatever, and confirm the neutrality of how this is being created.
“I hope they find it appropriate to allow this to continue, and I hope they will allow us to get the money to the front line in Ukraine very quickly.”
According to The Telegraphboehly’s bid is expected to be approved by the premier league this week.
It is claimed that confirmation that the takeover has successfully passed the test of league owners and directors, who were very outraged, will arrive ‘immediately’, but the offer will still have to be confirmed by the government.
Abramovich wants his loan to be repaid to Chelsea’s parent company Fordstam Camberley International Investments
It is understood that the ministers proposed that the funds from any sale be kept in the account and released only when they are satisfied that the money will go to the Foundation to help the victims of the Ukrainian war.
Abramovich recently denied returning to a promise to write off the debt, but on Monday a government source hinted that “despite pledging that all proceeds will go to good intentions in public, it seems that Abramovich is not prepared to make the same legal commitments. ”
A government source added: “There remain two major turning points – where exactly they will keep the proceeds from the sale and what legal guarantees the government will give that the money will go to good intentions … a deal that would allow money to be diverted during the deal was a violation of sanctions and looks like a red line for ministers. ‘
Chelsea is operating under a special license after Abramovich was sanctioned after the invasion of Ukraine over his alleged links to Russian President Vladimir Putin.
This license expires on May 31, and any agreement requires the signature of ministers and football authorities.
Chelsea are operating under a special license after Abramovich was hit by sanctions
A government source said they would continue to discuss the complexity of the takeover.
But now there is “a pretty serious concern in the government that the deal could fall apart and that Roman Abramovich is eventually ready to leave Chelsea.”
They added that “a good part of the sales” should be completed this week or next, with deadlines promising “after which the club would either withdraw from the European competition or completely from the Premier League.”
May 31 is also the last day for the club to register for next season’s European competitions, while the Premier League will meet in early June to grant the clubs the licenses they need to play next season. ‘
.
MY NUMBER 1 RECOMMENDATION TO CREATE FULL TIME INCOME ONLINE: CLICK HERE