Chelsea could be burdened by debt "for the next 50 years", Lord Sebastian Coe has warned.
The club was put up for sale by Roman Abramovich following Russia's invasion of Ukraine. Sanctions were then imposed on the Russian billionaire by the UK government over his alleged ties to Vladimir Putin.
The sanctions mean the club cannot process any financial transactions and are having to operate under a special operating licence. Lord Coe was part of Sir Martin Broughton's bid to buy the club before the British tycoon was ruled out of the running and has now fired a warning to the Government to find a resolution to the club's sale soon.
It comes as the club is just days away from potentially being kicked out of the Premier League. And Sir Jim Ratcliffe has broken his silence over his attempts to buy the Stamford Bridge outfit as he insisted he is "not giving up" over his £4.25bn offer.
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Sir Jim Ratcliffe breaks silence
Sir Jim Ratcliffe has insisted he is "not giving up" over his bid to purchase Chelsea.
Britain's richest man still retains hope of purchasing the club despite the Todd Boehly consortium reportedly being handed preferred bidder status last week. That news came just as Sir Jim increased his offer to buy the Blues to £4.25bn.
According to the director of his petrochemicals giant INEOS that his offer was "rejected out of hand" by Raine Group, the US bank tasked with handling the club's sale. But Ratcliffe has now told Raine they shouldn't "close any door" as he urged them to consider his offer.
Premier League expulsion looms
Chelsea could be expelled from the Premier League in just a matter of days if their takeover does not go through.
The purchase appears to have stuttered in recent days amid reports that Roman Abramovich is considering a U-turn on his promise to write off the club's £1.6bn debt. The club have been operating under a special licence following the sanctions that were imposed on Abramovich - which expires on May 31.
Eight days after that the Premier League is scheduled to hold a meeting to confirm details for next season. Should a deal not be completed by then, and the club is unlicensed, it is not outlandish to consider the potential of an expulsion.
Lord Coe sends warning
Lord Sebastian Coe has warned Chelsea may have debt "for the next 50 years" if the Government aren't "really clear what it wants" out of the club's sale.
American billionaire Todd Boehly, co-owner of the LA Dodgers, has reportedly been given preferred bidder status and is thought to have until Friday to wrap up a deal for the club. If that is not successful then other groups will have the opportunity to progress their offers with Raine Group and could cause further delay to the club's sale.
But Lord Coe says the financial implications of Chelsea having to continue being unable to sell tickets could leave the club in significant debts unless the purchase is resolved in the coming weeks.
