The UK English Government Approve Chelsea FC Sale to Todd Boehly

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England The process of selling Chelsea to Todd Boehly met a bright spot after obtaining approval from the English League and the British Government to carry out a transaction.

Previously, Chelsea announced that Todd Boehly had bought a £2.5 billion stake to redeem the Blues from its previous owner, Roman Abrahamovic.

aim of donating 100% to charitable causes as confirmed by Roman Abramovich,” Chelsea said in a statement. official website, Saturday (7/5/2022).

As previously reported, Abramovich was forced to sell Chelsea after the British government froze his assets because of the Russo-Ukrainian war.

The Premier League itself has approved the sale of Chelsea to Todd Boehly on Tuesday (24/5/2022). This was said directly through the Premier League’s representative council.

Meanwhile, the British government itself has also approved the sale of Chelsea a day after the Premier League gave a statement.

Of course, the sale of Chelsea to Todd Boehly must be subject to a government license. Where later the license will be needed for transfer needs from the frozen account.

With the approval of the Premier League and the British Government, the sale of Chelsea to Todd Boehly could continue.

The sale of Chelsea FC to US investor Todd Boehly has been approved by the British government, nearly 20 years after Russian billionaire Roman Abramovich owns the football club.

The $5.3 billion sale deal, first reported by Bloomberg News, ends news of uncertainty for fans and club staff, who Abramovich was forced to sell in early March shortly before being sanctioned as part. British response to Russia’s war in Ukraine.

Since then, Chelsea has operated under a special government license, while US bank Raine Group managed the sale. A number of wealthy investors, many from the US, made bids for the club and there was also a belated proposal from British billionaire Jim Ratcliffe.

“Last night the UK government reached a position where we were able to issue a license permitting the sale of Chelsea Football Club,” a government spokesman said in a statement.

Boehly’s offer was backed by California-based private equity firm Clearlake Capital. This includes a £2.5bn purchase of shares and £1.75bn to invest further in the club’s profits. The process was complicated by the need to comply with sanctions and ensure that none of the proceeds reached Abramovich, but rather for charitable purposes.

The English Premier League on Tuesday gave its approval for the Boehly consortium’s takeover of Chelsea. A Chelsea representative declined to comment.

The sale means that starting next season, more than half of the 20 teams competing in the EPL will be backed by US money. Four of the ‘Big Six’, namely Arsenal FC, Chelsea, Liverpool FC and Manchester United FC, will be directly owned by Americans. Boehly is the former president of Guggenheim Partners and co-owner of Los Angeles Dodgers Major League Baseball.

Chelsea fans will be looking to him to continue what has been a golden era for the club under Abramovich. The Russian invested hundreds of millions of pounds in Chelsea over nearly 20 years, helping him win 21 trophies and establishing himself as one of the dominant forces in English football.

However Chelsea finished the latest EPL season in third place, a bit behind rivals Liverpool and Manchester City. Clubs are unable to negotiate player contracts while the sale process is underway and coach Thomas Tuchel has said he will postpone his holiday to work with the new owners ahead of the summer transfer season.