CHELSEA have ONE WEEK to complete their £4.25bn takeover or risk been thrown out of next season’s Champions League.
Todd Boehly is closing in on sealing a mega-money deal to buy the West Londoners from Roman Abramovich.
Todd Boehly is closing on his takeover of Chelsea – but he will be hoping some loose ends are tied up quicklyCredit: Rex
But remaining loose ends must be tied up quickly to ensure the Blues are able to take their place among Europe’s elite next term.
Chelsea were able to finish the current campaign after being granted a special license by the government in the wake of sanctions on Abramovich over his links with Vladimir Putin.
That license expires on May 31.
Just a day later, the Blues must meet Uefa regulations to be eligible to compete in the Champions League.
And if Boehly’s takeover hasn’t been rubber-stamped by then, Thomas Tuchel and his players could be refused entry into Europe’s elite competition.
Los Angeles Dodgers co-owner Boehly, 46, has already passed the Prem’s owner and directors test.
And the £4.25bn deal moved another step closer to coming to fruition on Tuesday after receiving the green light from Premier League bosses.
A Prem spokesman said: “The Board has applied the Premier League’s Owners’ and Directors’ Test (OADT) to all prospective Directors, and undertaken the necessary due diligence.
“The members of the Consortium purchasing the club are affiliates of the Clearlake Capital Group, L.P., Todd Boehly, Hansjorg Wyss and Mark Walter.
The statement then adds: “Chelsea FC will now work with the relevant Governments to secure the necessary licences to complete the takeover.”
And that is where the sticking point may lie.
Government sources suggested yesterday that Whitehall approval was close but that there remained significant “hurdles” with the green light from Europe.
Abramovich, who holds a Portuguese passport, is also on the EU sanctions list.
And that means objections from the European Union could still SCUPPER the entire deal.
While it is expected that an agreement will be reached, there remains a genuine risk of Chelsea not being given the EU go ahead.
While provisions would surely be made for the Blues to continue domestically, and delay would see the Blues miss next week’s deadline to compete in Europe.
Roman Abramovich’s era as Chelsea owner is coming to a close