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Home Latest Stories Football

Premier League approves Boehly’s Chelsea takeover

Samuel Evans Enyan-Riquelme by Samuel Evans Enyan-Riquelme
May 25, 2022
in Football, General News, Latest Stories, World News
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Premier League approves Boehly’s Chelsea takeover
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The Premier League has approved the £4.25bn takeover of Chelsea by a consortium led by LA Dodgers co-owner Todd Boehly.

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The league says the consortium has passed its owner’s and directors’ test.

The Premier League club was put up for sale before owner Roman Abramovich was sanctioned over his links to Russian president Vladimir Putin.

The purchase remains subject to the Government issuing the required sale licence.

The final stages of the transaction will then need to be completed.

The government does not want Abramovich to make any proceeds from the sale but sources are optimistic about a deal being finalised on Tuesday night.

“We now believe everyone will be ready to issue the necessary licences” said one insider.

“The last remaining hurdle boils down to a number of final technical details that are being discussed with the club.”

Earlier this month the deal had seemed close to collapse over concerns proceeds would not reach good causes as promised by Abramovich.

Abramovich denied that he had asked for his £1.5bn loan to Chelsea be repaid when the club was sold.

Several parties expressed an interest but Chelsea agreed to sell to the Boehly-led consortium earlier in May.

The consortium is led by Boehly but Clearlake Capital, a Californian private equity firm, would own a majority of the shares in Chelsea. Other investors include US billionaire Mark Walter, also a co-owner of the LA Dodgers, and Swiss billionaire Hansjoerg Wyss.

Chelsea have been allowed to continue operating under a special government licence which expires on 31 May.

About Post Author

Samuel Evans Enyan-Riquelme

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Enyan Samuel is a sports writer with a keen interest in African Football and a product of team play. I love sports for a reason and drives my pleasure and happiness watching any kind of sporting discipline. Get in touch via Email enyansamul@gmail.com
, Twitter| @SamEnyan5 On Whatsup| +233205004646.

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