The British government announced on Wednesday that it had approved Todd Boehly’s proposed acquisition of the Chelsea football club from the sanctioned Russian oligarch Roman Abramovich.
The Secretary of State for Digital, Culture, Media, and Sport, Nadine Dorries, announced late on Tuesday that she had issued a license permitting the transaction, shortly after receiving Premier League approval.
“We are confident that the sale proceeds will not benefit Roman Abramovich or other sanctioned individuals,” tweeted Dorries.
“Given the sanctions, we imposed on those associated with (Vladimir) Putin and the bloody invasion of Ukraine, the club’s long-term viability can only be ensured by a new owner,” she said.
On May 7, a consortium led by Los Angeles Dodgers co-owner Boehly agreed to pay a record £4.25 billion ($5.3 billion) to purchase the Premier League club from Abramovich.
The Premier League stated that its approval was contingent on the government’s sale license and the successful conclusion of the transaction’s final stages.
Officials desired that Chelsea meet all registration deadlines for upcoming football competitions by Tuesday.
Abramovich placed Chelsea on the market at the beginning of March, jubefore to being sanctioned by the British government for Russia’s invasion of Ukraine.
Due to government concerns regarding Abramovich’s potential to profit from the sale, completing the purchase has been a lengthy process.
The deal’s total value breaks the previous record for the sale of a sports team, which was $2.4 billion for the 2020 sale of the New York Mets baseball franchise.
- Tags: Chelsea FC, Football, Todd Boehly
