Todd Boehly was permitted to hold back more than £100million from the Chelsea purchase amid concern the club will be hit with financial fair play punishments over liabilities under Roman Abramovich, Telegraph Sport can reveal.
Club executives under the previous regime had been forced to disclose significant unforeseen liabilities just days before the sale – initially worth a total of £2.5billion, with a further £1.75billion of future investment – was finally struck.
The dramatic last minute change in price was approved as a result of concerns the club could now face financial fair play punishments when Premier League and Uefa auditors are alerted.
Under the sanctioned Russian’s ownership, Chelsea had received funding via parent companies in which tax liabilities were understood to have become increasingly difficult to unravel. Checks by regulators after the club effectively became a frozen asset in March prompted Chelsea to declare potentially huge unpaid liabilities to Boehly at the 11th hour. The new American owner, who partnered with, among others, US private equity firm Clearlake Capital, was subsequently allowed to hold back almost 10 per cent of the purchase price. | The Telegraph