Abramovich could get ‘final say’ on Chelsea owners despite not earning a penny

Roman Abramovich will reportedly get the 'final say' on the new Chelsea owners despite being blocked from earning a single penny from the sale.

The four prospective bidders to buy the club have been given a deadline of Thursday to submit their final offers before a preferred bidder is chosen. The Times reports that Abramovich will meet with the Chelsea board to decide on the preferred bidder despite no proceeds from the sale going to him.

Government sanctions on the Russian oligarch permit that the proceeds will instead go into a frozen account and are understood to then be distributed to help victims of the war in Ukraine.

A special licence has been issued to the club so that the sale can go through, with Chelsea also allowed to carry on operating despite the sanctions on their owner.

The report adds that the board are not looking to necessarily select the highest bidder and will instead prioritise the guardianship of the club.

The four bidders who passed through the first stage of the takeover process have been given a deadline of Thursday to submit their final offers to the Raine Group, who are handling the sale, before the preferred bidder is presented to the club next week.

Those bidders are Chicago Cubs owners, the Ricketts family, a consortium led by Todd Boehly, a bid helmed by Sir Martin Broughton and Lord Sebastian Coe and Boston Celtics co-owner Stephen Pagliuca.

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According to PA, the four bidders have already been approved by the government, with a spokesperson for the Department of Digital, Culture, Media and Sport quoted saying: “The government has no role in establishing a preferred bidder for Chelsea Football Club.

"Assessments of owners and due diligence are a matter for the club and the Premier League, not the government. Our role is to consider an application for an amended licence that authorises a sale of the club when it comes forward with a preferred bidder.”

Once chosen, the bidders will then still have to pass the Premier League's Owners' and Directors' Test before the takeover can be completed.

Abramovich was hit with sanctions following Government allegations he had a close relationship with Vladimir Putin, something he denies. In February Putin ordered the senseless invasion of Ukraine, although there is no suggestion Abramovich is involved in any way.

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