Reports | Chelsea takeover bid to be approved by UK government in 24 hours

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Chelsea takeover set to be official

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Reports | Chelsea takeover bid to be approved by UK government in 24 hours

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SportsCafe Desk

05/24/2022

According to Sky Sports, it is understood that the UK government has received legal guarantees that Roman Abramovich will not benefit from the £4.25bn sale of Chelsea. An approval is set to go through for the Todd Boehly-led consortium to officially take charge of the club in the next 24 hours.

Chelsea owner Roman Abramovich was sanctioned by the United Kingdom government in March in their efforts to cut off resources of Russian President Vladimir Putin as the nation's invasion of Ukraine continues.  Abramovich, who has owned the club since 2003, had approved the sale of the club and several interested parties were vying to take over the English side. But talks over the sale had been delayed as the Russian owner reportedly wanted the 1.5 bn he loaned to Chelsea repaid before a sale would be sanctioned.

It was later confirmed that Todd Boehly's consortium had agreed to purchase Chelsea from Roman Abramovich for a reported fee of £4.25bn pending approval from the government. The UK government had granted Chelsea a special license to operate until May 31 as part of the sanctions imposed. The Government has to issue a separate license to allow the London club to be sold and Chelsea would need to acquire a license within June 8 to be a part of the next campaign.

The government has now received legal assurances that the Russian oligarch will not benefit from the sale of Chelsea meaning that the deal can now be approved before the deadline. Thomas Tuchel and the club’s hierarchies will now begin to put their plan into motion and work toward the summer transfer window as a new era dawns at Stamford Bridge.

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