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Government Grants Licence For Chelsea Sale From Roman Abramovich To Todd Boehly
Todd Boehly and Chelsea FC (Photo: Getty)
The UK government has issued a licence that permits the sale of Chelsea, it was confirmed this morning.
Todd Boehly’s £4.25billion takeover of the Stamford Bridge club was approved by the Premier League last night.
The Los Angeles Dodgers co-owner will become the club’s controlling owner once the takeover is complete. California investment firm Clearlake Capital will assume the majority shareholding.
The west London club was put up for sale in March before owner Roman Abramovich was sanctioned over his links to Russian president Vladimir Putin.
Chelsea have been operating under a special government licence, which expires on May 31.
Culture secretary Nadine Dorries said: “Last night the government issued a licence that permits the sale of Chelsea FC.
“Given the sanctions we placed on those linked to Putin and the bloody invasion of Ukraine, the long-term future of the club can only be secured under a new owner.
“We are satisfied the proceeds of the sale will not benefit Roman Abramovich or other sanctioned individuals.
“I want to thank everyone, especially officials who’ve worked tirelessly to keep the club playing and enable this sale, protecting fans and the wider football community.”
2/2 We are satisfied the proceeds of the sale will not benefit Roman Abramovich or other sanctioned individuals. I want to thank everyone, especially officials who’ve worked tirelessly to keep the club playing and enable this sale, protecting fans and the wider football community
— Nadine Dorries (@NadineDorries) May 25, 2022
Completion of the takeover will bring an end to a 12-week saga that was sparked by Abramovich officially putting the Blues up for sale on March 2.
He released a statement pledging to write off the club’s debt and set up a foundation to aid victims of the war in Ukraine.
The billionaire was then sanctioned by the UK government on March 10, with Downing Street claiming to have proven his links to Russian president Vladimir Putin.
Chelsea were put under a strict government operating licence, with all of Abramovich’s other UK assets frozen.
This article originally appeared on HuffPost UK and has been updated.
