Chelsea bidders offered path to buy club by government

Potential buyers of Chelsea have been offered a path to buy the club without the involvement of Roman Abramovich, as long as he does not “benefit from the proceeds”.

Abramovich put the club up for sale last week, with a number of parties said to be interested in buying the west London club.

READ MORE: Chelsea count cost as government turns screw on Abramovich

But the sale has been paused following the sanctions imposed on the Russian oligarch on Thursday.

Chelsea have been granted a special license until May 31 to continue operating, but the club are said to be in discussions with the government to ease the pressure as the current stipulations will leave Chelsea close to ruin.

It was reported later on Thursday that the sale of Chelsea could still go through if Abramovich allows the government to take over the process and decide where the funds, thought to be over £2billion, from the deal go.

But now Digital and Technology Minister Chris Philp has told Sky News that interested parties can approach the government without the involvement of Abramovich.

Mr Philp said: “As the license conditions are written today, the sale would not be allowed.

“If a buyer emerged then it would be open to that buyer or the to the football club to approach the government and ask for the licence conditions to be varied in a way that allowed that sale to take place they would be able to approach the government to make a proposal.

“To be clear no proposal would be accepted which saw the money the proceeds from any sale ending in an unrestricted bank account owned by Abramovich. He can’t benefit from the proceeds of any sale.”

British billionaire Nick Candy was the latest high-profile business magnate to throw their hat into the ring for Chelsea’s sale, amid a host of suitors for the Champions League holders.

Swiss tycoon Hansjorg Wyss and American investor Todd Boehly were also in the running, with more than 10 credible parties understood to have been compiling bids.

Reports claim many of those potential investors have not been put off by the sanctions imposed.