Chelsea could be sold by the end of the month despite sanctions

Chelsea Football Club could still be sold by the end of the month despite being under several sanctions and under the control of the UK Government.

Following the government taking control of the assets of former owner, Roman Abramovich, an American Investment firm has been tasked with selling the club, and following positive conversations, they believe the club could be sold by the end of the month.

The government will need to grant the club a new licence for a sale to go through, after it placed sanctions on the club, but after an agreement was made that funds from a sale would go to charitable organisations and into a frozen account, the process of getting a new licence should be easy.

The deadline set for bids by the investment firm is March 18, with around 20 credible parties interested in Chelsea.

One of those interested in the club is Chicago Cubs owner’s, the Rickett’s. They are said to have around the same wealth as those that own Liverpool, as Fenway Sports Group also own the Boston Red Sox. They face competition from a consortium that includes the President of World Athletics, Lord Coe, who is a Chelsea supporter, an ex-Liverpool Chairman Sir Martin Broughton.

Both bids are deemed to be ‘very serious’ and look like they both have the potential to take over the club.

Despite all the uncertainty around Chelsea’s future and financial stability, on the pitch the team continued it’s form, beating Lille 4-1 on aggregate in the UEFA Champions League to go into the Quarter-Finals of the competition.

Under current restrictions the club cannot sell any tickets to games, be that away or home, so it is hoped for all parties, that a sale and transition of the club can be completed by April.