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Premier League board approves proposed takeover of Chelsea from Todd Boehly/Clearlake Consortium, but £4.25billion deal still subject to UK government approval

Premier League board approves proposed takeover of Chelsea from Todd Boehly/Clearlake Consortium, but £4.25billion deal still subject to UK government approval

Todd Boehly’s bid for Chelsea Football Club has taken a big step with the Premier League approving his takeover bid on Tuesday.

However, the American’s purchase of the club off Roman Abramovich is subject to approval from the UK government.

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It finally looks like Boehly will be given the keys to Stamford Bridge

Those involved in the sale at Whitehall want to sign it off before end of play on Tuesday, to ensure the club can meet all deadlines for registration for next season’s competitions.

The Premier League confirmed Boehly and his consortium partners have passed the organisation’s owners’ and directors’ tests and that just leaves government ratification as the final takeover step.

“We now believe everyone will be ready to issue the necessary licences,” said a government source.

“The last remaining hurdle boils down to a number of final technical details that are being discussed with the club. It’s going to go down to the wire.”

Los Angeles Dodgers co-owner Boehly has already agreed the record sports franchise purchase of the Blues, with Abramovich’s ownership tenure poised to end after 19 years.

Boehly will become Chelsea’s controlling owner once the takeover is complete, though California investment firm Clearlake Capital will assume the majority shareholding.


Boehly has attended a number of Chelsea matches and it looks like the club will finally be his

AFP

Boehly has attended a number of Chelsea matches and it looks like the club will finally be his

Completion of the takeover will bring to an end a 12-week saga that was sparked by Abramovich officially putting the Blues up for sale on March 2.

Chelsea’s players and staff found out the club was being sold at Kenilworth Road, amid final preparations for their FA Cup fifth-round clash at…

Read Full Story At: Talksport.

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