A Russian Oligarch’s Very Highly Valued Team
In announcing his sale, Abramovich said he would not ask the club to repay that debt, the equivalent of $2 billion.
With loans forgiven, a quick auction will now take place. A successful buyer would be acquiring a star-laden club that will require regular cash infusions to keep up with the world’s top teams.
Any new owner will also face a costly rebuilding project to upgrade the creaking Stamford Bridge stadium. In 2018, Abramovich shelved a planned $1.3 billion rebuild amid difficulties in renewing his British business visa.
Source: Soccer - nytimes.com
