UK Government Gives Green Light to Todd Boehly Chelsea Takeover

Todd Boehly Chelsea takeover

The UK Government and the Premier League have given their approval to the Todd Boehly Chelsea takeover which is estimated to be around a £4.25 billion deal.

Todd Boehly Chelsea Takeover Approved

Final Stages Completed

Todd Boehly’s consortium had already passed the necessary checks by the Premier League.

The latest update is that the UK government have now issued a sale licence. The government wanted to ensure that none of the proceeds to go to Roman Abramovich, due to his links with Vladimir Putin.

A government spokesperson said: “Late last night the UK Government reached a position where we could issue a licence that permits the sale of Chelsea Football Club. 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.”

The government will be using the proceeds of the sale to put towards “humanitarian causes in Ukraine, supporting victims of the war”.

Who Is Taking Over Chelsea?

Todd Boehly is co-owner of the LA Dodgers and leads the consortium that is trying to buy Chelsea FC. His net worth is about £4.72 billion with plenty of investments in American basketball.

The consortium is a group that consists of Clearlake Capital as a majority shareholder, as well as fellow co-owner of the LA Dodgers Mark Walter, along with Hansjorg Wyss (A swiss billionaire with a net worth of £3.9 billion) and others.

The deal has taken around three months to finalise. According to Sky Sports, this deal was achieved by 20 hour-long working days to cut down what could usually be a nine-month process. but it now looks like Chelsea fans can breathe a sigh of relief.

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