Premier League approves Todd Boehly’s acquisition of Chelsea

The Premier League’s board of directors has approved the Todd Boehly / Clear Lake Consortium’s offer to buy Chelsea, the league has announced.

Bailey, co-owner of the Los Angeles Dodgers, has already agreed to buy Bruce £ 4.25 billion (€ 4.95 billion), and Roman Abramovich’s ownership will end in 19 years.

The Premier League statement on Tuesday night said: “The Premier League Board today approved the Todd Boehly / Clear Lake Consortium’s offer to buy the Chelsea Football Club.

The #PL The Board today approved the offer to buy Chelsea Football Club

The purchase is subject to the UK Government issuing the required sales license and the final stages of the transaction being fully completed.

Complete statement: https://t.co/SvGhRtoXmD pic.twitter.com/N7S8jitlPy

— Premier League Communications (@PLComms) May 24, 2022

“Purchase is subject to the government issuing the required sales license and fully completing the final stages of the transaction.”

A spokesperson for British Prime Minister Boris Johnson has previously confirmed that the government has begun negotiations with “international partners” to help push the sale of Chelsea across the line.

Russian and Israeli billionaire Abramovich has long hoped to be able to live up to the government’s expectations of how to handle the £ 1.5 billion loan to Chelsea.

The 55-year-old is believed to be confident that these requirements have been met, which will ultimately pave the way for Downing Street to approve the sale.

The Premier League statement adds: “The Board has applied the Premier League Owners and Directors Test (OADT) to all future directors and provided the necessary due diligence.

“Members of the consortium to buy clubs are affiliates of Clearlake Capital Group, LP, Todd Boehly, Hansjorg Wyss and Mark Walter.

“Chelsea FC will work with the relevant governments to secure the licenses needed to complete the acquisition.”

Government sources are optimistic about the deal with Chelsea on Tuesday night, but said “it will be a reality.”

“We now believe that everyone is ready to issue the licenses they need,” sources said.

“The last remaining hurdle is summarized in some final technical details that we are discussing with the club. It will end up in the network.”

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