Tuesday, July 5

Chelsea takeover: Government approve sale to Todd Boehly

The UK government have confirmed they have approved the takeover of Chelsea by the consortium led by Todd Boehly.

Approval from the Premier League was granted first, with the government pushing for legal guarantees from Roman Abramovich that he would not financially benefit from the sale after being sanctioned.

That confirmation came late on Tuesday, with a spokesperson confirming that Boehly’s takeover is now ready to be formally processed.

“Late last night the UK Government reached a position where we could issue a licence that permits the sale of Chelsea Football Club,” read a government statement.

“Following the sanctioning of Roman Abramovich, the government has worked hard to ensure Chelsea Football Club has been able to continue to play football. But we have always been clear that the long-term future of the club could only be secured under a new owner.

“Following extensive work, we are now satisfied that the full proceeds of the sale will not benefit Roman Abramovich or any other sanctioned individual,” continued the statement.

“We will now begin the process of ensuring the proceeds of the sale are used for humanitarian causes in Ukraine, supporting victims of the war.

“The steps today will secure the future of this important cultural asset and protect fans and the wider football community. We have been in discussions with relevant international partners for necessary licences required and we thank them for all their cooperation.”

Boehly is now set to become Chelsea‘s controlling owner, with California investment firm Clearlake Capital becoming the majority shareholder.

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