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Chelsea Takeover set to be approved within the next 24 hours
22/05/24
13:18
sokapro-Chelsea Takeover set to be approved within the next 24 hours

The Tod Boehly led consortium were announced as the official buyers of Chelsea from Abramovich and now the government is set to give an approval within a day.

The government of the United Kingdom (UK) has received guarantees that sanctioned Chelsea owner Roman Abramovich will not benefit from the £4.25bn sale of the club. The money will, however, be put in a frozen bank account and the deal will bring to an end the 19-year reign of Roman Abramovich at Chelsea. The authorities are now set to approve the Tod Boehly-led consortium takeover of the club in the next 24 hours. The proceeds of the sale will go into a frozen account controlled by the government. Abramovich is also sanctioned by the European Union (EU) and because he also possesses a Portuguese passport, the Portugal authorities will also have to approve the sale. The expectation is that the deal will be signed off on Tuesday. 

During Roman Abramovich's times at Chelsea, the club won a total of 21 trophies which include 5 Premier League titles and 2 UEFA Champions League crowns. Boehly, co-owner of the LA Dodgers baseball team, and fellow consortium member Hansjörg Wyss were at Stamford Bridge for Sunday's final 2-1 win of Chelsea over a relegated Watford. The approval news comes in as a boost to Thomas Tuchel as the club is currently unable to buy or sell players and also it can not negotiate new contracts with players. This is due to restrictions imposed on Abramovich over his alleged links to Vladimir Putin's Russia. 

The outgoing Chelsea owner has been part of a delegation that has been trying to broker peace between Russia and Ukraine and he had earlier suffered symptoms of suspected chemical weapons poisoning' during the talks. The UK government sanctioned the Russian oligarch in March but gave Chelsea a special operating license with restrictions that is set to expire on May 31st. The talks to have the clubs sold have been dragging over weeks with reports alleging that Abramovich wanted the club to pay his £1.5bn loan owed to him, allegations which he refused and affirmed his stand that all the funds from the sale were to be used to help the victims of war as a result of Russia's invasion to Ukraine.