Chelsea hand over huge bailout to UK government


Ffollowing Chelsea owner Roman Abramovichdisqualification from the post of director of the club Premier LeagueThe UK government has made it possible for the London side to receive financial assistance in the amount of 110 million pounds (131 million euros).

Sanctions against Abramovich means the Russian must now sell his stake in the club, meaning he can no longer financially support Chelsea.

Chelsea were in grave danger of being plunged into administration after Abramovichfrom their board of directors as they will not be able to continue paying £28m weekly wages.

However, UK MPs have decided that the Blues will now be able to access previously frozen television and prize money to help them stay afloat.

They will receive €41m in TV revenue, €46m for third place in the Premier League and up to €43m if they win the Champions League for the second year in a row.

This goes up to a possible 131 million euros, which will allow the club to avoid default on payments and intervention by the administration.

The €24,000 cap on travel expenses for away games remains but will be lifted if they go further. Lille and in the Champions League quarter-finals this week.


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