Chelsea could go into administration if Roman Abramovich refuses to accept offers

Chelsea could go into administration with Roman Abramovich refusing to accept a bid for the club.

Abramovich has been looking to sell the club after sanctions were placed on him following Russia's invasion of Ukraine.

The Russian has hired The Raine Group to help sell the club, and according to the Daily Mail, could veto any sale to potential bidders from countries that have sanctioned Russia in the past few weeks.

If the report is to be believed, the 55-year-old could refuse to sell to any British or American buyers, or even any others from the European Union (EU).

If Chelsea cannot find a buyer soon, there is a chance the club could go into administration, as Abramovich's accounts have been frozen, and the players still need to be paid.

Former Blues captain John Terry confirmed he is fronting up a consortium called 'True Blues' along with former Chelsea player Claire Rafferty as they attempt to launch a £250million bid to acquire a 10 percent stake in the Premier League club.

"Chelsea has been such an important part of my life for 22 years," said Terry.

"I want to see the club's history and heritage protected as we go into a new era with like-minded people who have the same long-term vision of building the best football club in the world and understand how important our DNA is.

"I'm thankful for the Chelsea Pitch Owners and Chelsea Supporters' Trust's time and support on this and we hope we will be welcome investors into the club's new structure."