Done Deal: Premier League And UK Government Approve Boehly Takeover Of Chelsea [Full Details]

The Premier League and the UK government have today approved the proposal of the Todd Boehly-led consortium to take charge of the Chelsea FC. 

The Premier League has stated that it recognizes Boehly as the new owner of the enterprise registered as Chelsea Football Club and the American conglomerate will take charge of the club at the turn of the new month.

“Todd Boehly approved as Chelsea new owner”

The UK government has also approved Boehly’s takeover of Chelsea and the government hereby understands the club to be owned by the Todd Boehly Consortium. The Chelsea takeover has been dragging on for quite a while and with the British government imposing sanctions on former owner Roman Abramovic following the Russia-Ukraine military campaign that started in February.

In March, Chelsea was seized by the UK government and club owner Roman Abramovich was barred from entering the UK when details of aiding Russia’s military efforts in Ukraine were leaked. All of the Russian billionaire’s businesses in the UK were seized by the government and all of the club’s funds were temporarily seized.

In light of all this, Roman Abramovic was forced to put his business on the market. However, the British government made it clear he will not receive any amount of money following the sale of Chelsea Football Club. The club was put out for a £4bn fee but the biggest offer from a foreigner was £3.6bn. However, the UK government decided to take charge of the purchase and determine the buyers of the club.

Todd Boehly emerged as a buyer and made a £3.8bn bid to buy Chelsea. The process was a long one and very soon he was the only one in the running for the purchase as other buyers left the chase to buy Chelsea. Boehly is an American billionaire who owns chains of businesses in the United States and a few outside his country. Chelsea will be his most notable business outside the shores of America and with summer fast approaching, he will want to inject cash to the club to sign players and also work on extensions of contracts with some players in the coming weeks.