That's the big reason why you can't sell the Chelsea Club, it's about Abramovich directly.

Understandably, Chelsea told the government, as well as the bidding groups last week, that they wanted to restructure the way the club is being sold, which would include write-off by Chelsea Fordstam Ltd to a Jersey-based company, the Camberley International Investments, which appears to be linked to Abramovich.

There are major concerns about allowing this to happen when Abramovich is sanctioned and assets are frozen. The ministers have had the impression that all revenues from the sale would be given to the government for use for good causes, including assistance to war victims in Ukraine.

Last week the consortium, led by Todd Boyle, co-owner of the Los Angeles Dodgers baseball team, was informed by American Chelsea bankers that it was given a five-day exclusive period as a preferred bidder.

But sources from rival bidding groups said that only “days” before the decision was made, they were informed that the loan, which is in the faith in Jersey, should be repaid in the club's sale.

When Abramovich, 55, put Chelsea on sale, he said: “I will not ask that any loan be repaid”. It is believed that he is claiming that sanctions prevent him from being able to repay the debt, but that would be challenged by the government.

The bidding groups also now believe that the late change in the sale structure could pose a serious problem, not least for Treasury officials whose task is to review the agreement. This may cause the Jersey financial authorities to be required to consider the details of the loan.