UK government approves Boehly's Chelsea bid

UK government approves Boehly's Chelsea bid

May 25, 2022 by - SOCCER

Key Facts

  • (1:43) The United Kingdom government has issued a licence that grants the sale of Chelsea to the Todd Boehly/Clearlake Consortium, it was announced on Wednesday.
  • The club was put up for sale after Roman Abramovich was sanctioned by the government for his links to Vladimir Putin following Russia's invasion of Ukraine.
  • "Late last night the UK government reached a position where we could issue a licence that permits the sale of Chelsea," a government spokesperson said in a statement on Wednesday.
  • The UK government had reservations about the ownership of Camberley, and negotiations focused on whether the sale money -- which is broken down into a £2.5 billion asking price plus a commitment of £1.75 billion further investment into the club -- could be kept in a holding account until the destination of the funds is finalised to allow the sale to be completed.

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