QUICK LINKS

×
  • Sports - Football - Transfers
  • Updated: May 25, 2022

UK Government Okays Sales Of Chelsea To Todd Boehly

Latest News

Oladimeji Balogun
Oladimeji Balogun

Oladimeji Balogun is a graduate of the University of Ilorin where he studied Microbiology, he is a w...

More From this Author

United Kingdom (UK) government said on Wednesday it had given the green light to Todd Boehly's proposed takeover of Chelsea football club from the sanctioned Russian oligarch Roman Abramovich.

Secretary of State for Digital, Culture, Media and Sport Nadine Dorries said she had issued a licence permitting the deal late on Tuesday, shortly after it won approval from the Premier League.

"We are satisfied the proceeds of the sale will not benefit Roman Abramovich or other sanctioned individuals," Dorries tweeted.

"Given the sanctions, we placed on those linked to (Vladimir) Putin and the bloody invasion of Ukraine, the long-term future of the club can only be secured under a new owner," she said.

A consortium led by Boehly, a co-owner of baseball's Los Angeles Dodgers, had already agreed to a record £4.25 billion ($5.3 billion) deal to buy the Premier League club from Abramovich on May 7.

The Premier League said its approval hinged on the government sale licence "and the satisfactory completion of the final stages of the transaction".

Officials wanted everything completed on Tuesday so Chelsea could meet all registration deadlines for next season's football competitions.

Abramovich put Chelsea on the market in early March, just before he was sanctioned by the British government following Russia's invasion of Ukraine.

Completing the purchase has been a lengthy process due to government concerns over the potential for Abramovich to profit from the sale.

The total value of the deal smashes the previous record for the sale of a sports team – $2.4 billion for the New York Mets baseball franchise in 2020.

Tags

Join our Telegram platform to get news update Join Now
Oladimeji Balogun
Oladimeji Balogun

Oladimeji Balogun is a graduate of the University of Ilorin where he studied Microbiology, he is a w...

More From this Author

English Premier League 2021/2022 TABLE

English Premier League
No Teams P Pts
1 Manchester City 38 93
2 Liverpool 38 92
3 Chelsea 38 74
4 Tottenham Hotspur 38 71
5 Arsenal 38 69
Full Table

SPORTS SPOTLIGHT

Chelsea
Chelsea

Chelsea Football Club are an English professional football club based in Fulham, London. Founded in 1905, they compete in the Premier League...

See Profile

0 Comment(s)

SPONSORED

Jun 08, 2022

Countdown To 2023 Presidential Election: Who Are You Voting For?

Countdown To 2023 Presidential Election: Who Are You Voting

Atiku Abubakar (PDP) 6.00 %

Bola Ahmed Tinubu (APC) 26.00 %

Peter Obi (LP) 68.00 %

165 days 11 hours remain

See this post in...