Chelsea’s Sale Stalls: Abramovich Faces Financial Setback
The proposed sale of chelsea Football Club by Russian oligarch Roman abramovich is encountering significant hurdles, forcing him to reconsider his initial asking price. Abramovich, facing sanctions due to his ties to Vladimir Putin amidst the Ukraine conflict, announced his intention to sell the club last week. He initially sought a staggering £3 billion (approximately €3.6 billion), but reports from England suggest potential buyers are unwilling to meet this valuation.
Experts predict a more realistic purchase price hovering around £2 billion (€2.4 billion), representing a potential loss of billions for Abramovich. this predicament stems from his desire for a swift sale,which weakens his negotiating position. While numerous parties have expressed interest, concrete negotiations remain elusive. A Premier League insider told the “Mirror” that Abramovich’s expectations are unlikely to be met by any prospective buyer.
This potential financial setback adds to Abramovich’s recent losses. He has already forgone an estimated €1.8 billion in outstanding loans owed to him by Chelsea. Despite his vast fortune exceeding €11 billion, this situation undoubtedly stings.
Adding insult to injury, Chelsea’s market value has surged by approximately 24% in the past two years, according to Forbes. Currently valued at €2.95 billion, the club ranks as the seventh most valuable globally. Under normal circumstances, Abramovich could have easily commanded his desired price for the reigning Champions League winners. Though, the current geopolitical climate and his own circumstances have significantly impacted the sale process.
