New owners report tax concern to HMRC & FA

Chelsea have reported a tax concern to HMRC and the FA discovered by the club’s new owners as part of the due diligence process that has taken place since the rapidly completed takeover.

The consortium led by Todd Boehly had previously withheld £100m from the final purchase price to cover any unforeseen costs or liabilities – the speed at which the takeover had to be completed always meant it was possible that things could be discovered later.

The Times reports that an ‘area of concern’ has been found. The issue is said to be related to the withheld £100m, but any cost would be just a ‘fraction’ of that. Outgoing director Marina Granovskaia may also lose a chunk of her £20m sale bonus because of the tax owed.

HMRC hasn’t commented and the FA is said to be monitoring the situation.

Listen now to 90min’s Talking Transfers podcast, with Scott SaundersGraeme BaileyHarry Symeou & Toby Cudworth. On the latest show they discuss Newcastle’s decision to pull out of a deal for Hugo Ekitike and offer the latest on Arsenal’s pursuit of Gabriel Jesus. Available on all audio platforms and the 90min YouTube channel.

If you can’t see the podcast embed, click here to download the episode in full!

The overall value of the Chelsea takeover came in at £4.25bn, with around £1.75bn of that pledged towards future investment in the club – including the redevelopment of Stamford Bridge.

The £2.35bn net proceeds from the sale is set to be donated to victims of the war in Ukraine.

Strict UK government sanctions placed on former owner Roman Abramovich ensured that the Russian oligarch was not allowed to profit from any takeover.

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