Roman Abramovich disqualified as Chelsea director but club sale set to progress

Roman Abramovich has been disqualified as a director of Chelsea by the Premier League board but the sale of the club is expected to progress with Government oversight.

The sanctioning of Blues owner Abramovich by the UK Government on Thursday saw the Russian-Israeli billionaire’s UK assets frozen, including Chelsea, which stalled proceedings.

Chelsea have been handed a new licence to continue operations, however, and the European champions are still locked in negotiations with the Government to ease restrictions.

New York merchant bank the Raine Group has now assessed the terms of the licence and agreed a route forward for the sale with the Government, the PA news agency understands.

The Premier League board’s decision to disqualify Abramovich is unlikely to have any real impact given the sale process was already under way. It does not affect Chelsea’s ability to play matches.

Abramovich put Chelsea up for sale on March 2, pledging to write off the Blues’ £1.5billion debt and to divert all proceeds to a new foundation to benefit victims of the war in Ukraine.

The 55-year-old moved to sell Chelsea after 19 years at the Stamford Bridge helm, amid Russia’s continued war in Ukraine.

The Government sanctioned Abramovich after claiming to have proved his direct links to Vladimir Putin’s Russian regime, although Chelsea’s owner has always denied any association.

The Raine Group’s progression of the sale means Chelsea’s suitors can again push forward with their bids to take control of the European and world champions of the club game.

Abramovich was understood to have been ready to work with Government oversight on the sale and, now the Raine Group has completed suitable checks, the interested parties can press on.

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