United Kingdom government approves 4.25 billion pounds’ takeover of Chelsea by consortium led by Los Angeles Dodgers co-owner; Todd Boehly.
Written by News Room on May 25, 2022
The United Kingdom government has approved the 4.25 billion pounds’ takeover of Chelsea by a consortium led by Los Angeles Dodgers co-owner; Todd Boehly.
Chelsea, which is a London club, was put up for sale in March before owner Roman Abramovich was sanctioned over his links to Russian president; Vladimir Putin.
Chelsea have been operating under a special government licence which expires on May 31 and on Tuesday, the Premier League said the consortium had passed its owners’ and directors’ test.
The government, however, does not want Abramovich to receive any of the proceeds from the sale, which will instead go into a frozen bank account to be donated to charity.