RUNNING OUT OF TIME

May 31 deadline is looming to get a deal done at the Bridge

BY PAUL BROWN

IF Roman Abramovich wants his money back then all bets are off for Chelsea.

Because the idea of Abramovich demanding that his £1.6billion loan is repaid makes it virtually impossible for the Government to green light the sale of the club.

Prime Minister Boris Johnson went public insisting the Russian billionaire must not receive a penny of the proceeds.

But there are now fears Abramovich will go back on his promise to write off the money he loaned the club, throwing the whole process into chaos.

That is a huge problem for the Blues just when it looked as if LA Dodgers co-owner Todd Boehly and his consortium was about to seal a deal.

Boehly was selected as the preferred bidder by US merchant bankers the Raine Group, who are in charge of the complex sale.

His group are now in a five-day period of exclusive talks to get the deal done – but the issue of Abramovich’s loan is a huge potential sticking point.

The Chelsea owner, who is sanctioned by the UK Government, initially vowed to write off the loan.

He also vowed to donate all proceeds from the sale to a new charity for the war victims in

Ukraine.

But that raised the prospect of some money ending up in the hands of wounded Russian soldiers – something UK authorities could not stomach. The Government must now decide whether to freeze the money or divert it towards their own charitable causes.

But what happens to the loan remains to be seen and that raises the prospect of a doomsday scenario for the club, whose operating licence runs out on May 31.

If Chelsea have not been sold by then, they would automatically be barred from competing in next season’s Premier League. But with Abramovich and the UK Government heading for a potential stand-off, whoever blinks first could decide if Chelsea have a future at all.

Those close to Abramovich reportedly say he has been advised Government sanctions block him writing off the loan as planned. But any potential workaround raises the prospect of the money finding its way back into his pocket. It is a nightmare for boss Thomas Tuchel (far left, top) and his players, who are just as in the dark as everyone else.

But the process is already harming the club, whose revenue streams remain frozen. Chelsea were powerless to stop Antonio Rudiger (far left, below) quitting as soon as they were told they could not offer new deals. And the futures of Reece James (above, top) and Mason Mount (above) are also now in doubt as talks over new contracts cannot get underway.

Tuchel insists the uncertainty is not affecting his side, but they lost 1-0 at Everton on Sunday and have only managed one win in four games.

The longer it goes on the more difficult it becomes – not least for the hundreds of Chelsea employees currently fearing for their livelihoods.