Todd Boehly bid approved by UK Government

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Todd Boehly  4.2 billion pounds bid has been approved by the United Kingdom Government as former owner Roman Abramovich will not receive any benefit from the sale.

The United Kingdom Government have approved the 4.2 billion pounds Todd Boehly-led consortium takeover of Chelsea.

After several months of negotiation, the Chelsea takeover deal has been approved finally and the London club will have a new owner.

It has been stated that former owner Roman Abramovich, who has his assets seized by the UK Government will not receive any benefit from the sale of the club.

The Russian had put up the club for sale following Russia invasion on Ukraine on February.

“Last night the Government issued a licence that permits the sale of Chelsea,” said culture secretary Nadine Dorries. “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.”

On Tuesday night, the Premier League approved the takeover, with its board applying “the Premier League’s Owners’ and Directors’ Test (OADT) to all prospective Directors” and undertaking “the necessary due diligence”.

Sportscliffs understands that the proceeds of the sale are going into a frozen bank account controlled by the government.



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