The Premier League Board has approved a proposal to acquire Chelsea by the Todd Boehly / Clearlake consortium with all eyes now on the government to boost the sale.
The government is expected to approve the acquisition of Chelsea next week after also receiving legal guarantees that Roman Abramovich will not benefit from the sale of Chelsea, which could approve the £ 4.2bn deal.
The Premier League added in a statement: “The Board has applied the Premier League Ownership and Directors Test (OADT) to all future directors and has taken the necessary due diligence.
“The members of the Consortium that acquires the club are affiliates of Clearlake Capital Group, LP, Todd Boehly, Hansjorg Wyss and Mark Walter. Chelsea FC will now work with the relevant governments to obtain the necessary licenses to complete the acquisition.”
Sky Sports News understands that the proceeds from the sale go to a government-controlled frozen bank account.
Abramovich is also sanctioned by the European Union and, as he has a Portuguese passport, the sale must be approved by the Portuguese authorities.
UK officials continue intense talks with both the European Commission and its Portuguese counterparts in an effort to complete the sale of Chelsea as soon as possible, but the complexity and bureaucratic nature of the deal make the process possible. slow down.
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Sky Sports News chief journalist Kaveh Solhekol reveals members of the Ted Boehly consortium and what is likely to happen with the £ 4.25bn deal they agreed with Chelsea.
“We are working closely with Chelsea to advance the sale,” the prime minister’s official spokesman said. “We are in intense discussions with relevant international partners for the necessary approvals.
“We want this process to be done as soon as possible while ensuring the protection of the sanctions regime, but we will say more about it as soon as possible.”
The deal will put an end to Abramovich’s 19-year tenure at Chelsea, in which the club has won 21 trophies, including five Premier League titles and two Champions Leagues.
Boehly, co-owner of the LA Dodgers baseball team, and consortium member Hansjörg Wyss went to Stamford Bridge for Sunday’s 2-1 final win over Watford.
The news will be a boost for Thomas Tuchel’s team, as it has been unable to buy or sell players or negotiate new contracts with players due to restrictions imposed on Abramovich by his alleged ties to Russia by Vladimir Putin.
Antonio Rudiger joins Real Madrid for free and Andreas Christensen, club captain Cesar Azpilicueta and Marcos Alonso have been linked with Barcelona.
Abramovich put Chelsea up for sale days after the Russian invasion of Ukraine on February 24.
What is Boehly’s offer and who is part of it?
- Boehly’s bid would allow voting rights to be shared equally between him and Clearlake Capital, a California-based private equity firm.
- Clearlake, who does not have a direct-owned pedigree on major sporting assets, would own most of Chelsea’s shares.
- The group is being advised by Goldman Sachs and Robey Warshaw, where former Chancellor – and Chelsea fan – George Osborne now works as a partner.
Abramovich was then part of a delegation trying to negotiate a peace deal between Russia and Ukraine and suffered “symptoms of alleged chemical weapons poisoning” during the talks.
The UK government sanctioned the oligarch on March 10, but granted Chelsea a special license – which expires on May 31 – to continue operating.
Talks on the sale have dragged on in recent weeks, and Abramovich has had to deny reports that he wanted the £ 1.5 billion he lent to Chelsea to be reimbursed before he sanctioned a sale.
Boehly’s bid has been successful: what does it mean for Chelsea?
- This is the second time Todd Boehly has tried to buy Chelsea. Its £ 2.2 billion bid was rejected in 2019.
- Chelsea are expected to operate normally in the transfer market this summer and Thomas Tuchel will have the support to get the players he needs.
- New potential homeowners have already begun making plans for the redevelopment of Stamford Bridge.
- His long-term plan is to turn the pitch into a destination stadium where fans will want to spend a significant amount of time.