Chelsea takeover: UK government gives OK for Boehly deal to be completed

Robin Bairner

25 May 2022 01:53 CDT
3 min read

Todd Boehly’s consortium will be allowed to complete their takeover of Chelsea after the deal was given a green light by the UK government.

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There had been fears that the purchase might stall at this crucial juncture over fears that some of the £4.25 billion being used to buy the club would find its way to previous owner Roman Abramovich, whose assets were frozen amid Russia’s invasion of Ukraine.

But in good news for the Stamford Bridge club, the deal is now poised to go through, with the Premier League having previously indicated the consortium had passed its owners’ and directors’ test.

There was time pressure to push the deal through as Chelsea were running on a special government licence that expired on 31 May.

UK government green lights Chelsea takeover

“Late last night the UK government reached a position where we could issue a licence that permits the sale of Chelsea,” a government spokesperson said in a statement.

“Following the sanctioning of Roman Abramovich, the government has worked hard to ensure Chelsea 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. 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.”

Chelsea should, therefore, be in place to profit from the summer transfer window, with the Boehly-led consortium expected to complete their takeover imminently.