DONE DEAL: Chelsea takeover set to be complete in the coming hours
The UK governament has gotten the legal guarantees they were after, and the deal should be allowed to go through in the coming days.
The drama will soon be over for Chelsea fans. After many months of comings and goings, the sale of Chelsea Football Club from the hands of Roman Abramovich to a new owner is set to be complete soon.
As reported by UK media outlet Sky Sports, the governament has received guarantees that the Russian oligarch will see no benefits for the sale of the club, something that was a key priority for the sale to go through, as otherwise it would have been supporting a key ally of Russian leader Putin.
The sale, worth £4.25 billion, will go to a frozen bank account, meaning Abramovich, who also will lose right to any payments on the 1.5 billion he loaned to the club, will see no benefit from the transaction.
The new Chelsea owner will be Todd Boehly, who is also the co-owner of the LA Dodgers baseball team and who had a bid for the club rejected in 2019 by Abramovich.
"We are working closely with Chelsea to progress the sale," said the Prime Minister's official spokesman. "We are holding intense discussions with the relevant international partners to get the necessary approvals.
"We want to get this process done as soon as possible while also ensuring the sanctions regime is protected, but we will say more on this as soon as we possibly can."
Chelsea became one of the top European clubs under the Russian owner, who took over the club in 2003. Bankrolled by their new owner, Chelsea have won 21 trophies including five Premier League titles and two Champions Leagues in 2012 and 2021. It is undoubtedly the end of an era and Chelsea fans will hope the new ownership can bring the same level of success.
Continue reading: OPEN TO SELL: Hakim Ziyech could depart Chelsea this summer