Chelsea are expected to receive a HUGE unpaid tax bill after inspectors discover the total liabilities remaining from Roman Abramovich’s estate, after the club received funds through various parent companies.
- The Blues are expected to receive a hefty unpaid tax bill next month.
- HMRC and Chelsea have been in contact to unravel the full scope of responsibilities
- The important bill comes from funds received during Abramovich’s term.
- Club executives revealed unforeseen liabilities initially worth £2.5bn
Chelsea is expected to receive a huge unpaid tax bill next month after investigators revealed all the remaining liabilities of Roman Abramovich’s estate, according to the Telegraph.
It has been revealed that during the Russian’s tenure in charge, club executives were forced to reveal unforeseen liabilities initially worth a total of £2.5bn.
During Abramovich’s reign, the Blues received financing through a complex series of parent companies in which tax obligations had become increasingly difficult to resolve.
However, HMRC and the club have been in contact in the past month and inspectors are now ready to issue a final bill.
A club spokesman told Telegraph Sport: “It is not unusual in these types of transactions, particularly transactions completed in an accelerated timeframe, to retain an amount relating to any unforeseen liabilities that may arise from transactions that occurred prior to the sale. .
Due to the rapid nature of the Todd Boehly acquisition, the liabilities were initially disclosed as a contingency, meaning that a reduced sum of £2.3bn remains in a government holding account.
Chelsea will receive a huge unpaid tax bill from liabilities found under the last ownership
Under Roman Abramovich’s ownership, executives disclosed liabilities worth £2.5bn.
Mike Penrose, who was tasked with using the funds for a foundation for war victims, claims to have received only legal fees to set up the new organization three months after the deal.
The club has made it clear that at no time has it breached the profit and sustainability regulations of either the Premier League or UEFA.
The Russian has agreed to sell the Premier League team for £4.25 billion in May to a consortium led by Los Angeles Dodgers co-owner Boehly and backed by Clearlake Capital.
Due to the rapid nature of the Todd Boehly acquisition, the liabilities were disclosed as a contingency.