Chelsea takeover Todd Boehly’s bid satisfies Premier League

The government has got legal assurances that Roman Abramovich would not profit from Chelsea’s £4.25 billion sale; the money will be held in a frozen bank account; and the deal will end Abramovich’s 19-year ownership of the club.

The Premier League Board has authorized the Todd Boehly/Clearlake consortium’s proposed takeover of Chelsea, with all eyes now on the government to complete the deal.

The government is set to accept Chelsea’s takeover in the coming weeks after gaining legal assurances that Roman Abramovich will not profit from the sale, allowing them to sanction the £4.25 billion deal.

The Premier League said in a statement: “The Board has applied the Premier League’s Owners’ and Directors’ Test (OADT) to all prospective directors and completed the requisite due diligence.”

“The Consortium buying the club is made up of Clearlake Capital Group, L.P. affiliates Todd Boehly, Hansjorg Wyss, and Mark Walter.”

Chelsea FC will now engage with the appropriate governments to get the required licenses to complete the acquisition. ” 

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