The West London club are in real danger of not participating in the Premier League and Champions League next season, according to report from SportsMail.
The current operating licence for the club will expire on May 31 which means the ongoing sale of the Stamford Bridge spareheaded by the Raine Group must have been completed by that date.
Any further delays could have serious consequences on Chelsea’s ability to compete in the Premier League and UEFA competition next season.
The sale of the club is under threat amid the UK Government’s fears that the club’s owner, Roman Abramovich, is backtracking on his promise to write off a £1.6billion debt.
Towards the end of last week, Chelsea informed Whitehall – and the three remaining interested parties – that they wanted to restructure the way the Premier League club is being sold.
And any scenario that would see Abramovich gain financially from the sale of Chelsea would be in breach of the terms of the Russian’s sanctioning.
Abramovich had previously indicated the net proceeds of the sale would go to the victims of war in the Ukraine-Russia conflict.
The Russian businessman is arguing the sanctions imposed on him will prevent him from writing off Chelsea’s £1.6bn debt.
The development opens the door to significant delays to the process as the Government looks to ascertain exactly who will benefit from the sale of the club in the event of the deal being restructured.
Those delays could have serious consequences for Chelsea’s future.