Chelsea news: Premier League gives Boehly takeover green light
- Andy Schooler
- 24 May 2022
The end of the Roman Abramovich era at Stamford Bridge moved a step closer on Tuesday - now the Government is trying to sign the deal off.
The Premier League have approved Todd Boehly's takeover of Chelsea - with the Government confident the deal can be finalised on Tuesday night.
The league confirmed Boehly and his consortium partners had passed their owner tests - another step on the road to the Roman Abramovich era at the London club officially ending.
However, details are still being sorted for the Government to give the deal the green light - with Russian oligarch Abramovich sanctioned, the £4.25billion takeover has been a long, tricky process.
'Down to the wire'
A Government source told PA Sport: "We now believe everyone will be ready to issue the necessary licences.
"The last remaining hurdle boils down to a number of final technical details that are being discussed with the club. It's going to go down to the wire."
All parties are keen for the deal to be done so that Chelsea are able to complete the registration process for next season's competitions, both at home and abroad.
California-based investment firm Clearlake Capital will become the majority shareholders in Chelsea with Boehly, who also holds a stake in the Los Angeles Dodgers baseball team, the controlling owner.
The league has already given the deal a thumbs-up.
Approved
A Premier League statement read: "The Premier League Board has today approved the proposed takeover of Chelsea Football Club by the Todd Boehly/Clearlake Consortium.
"The purchase remains subject to the Government issuing the required sale licence and the satisfactory completion of the final stages of the transaction.
"The Board has applied the Premier League's Owners' and Directors' Test (OADT) to all prospective Directors, and undertaken the necessary due diligence.
"The members of the Consortium purchasing the club are affiliates of the Clearlake Capital Group, L.P., Todd Boehly, Hansjorg Wyss and Mark Walter.
"Chelsea FC will now work with the relevant Governments to secure the necessary licences to complete the takeover."
If completed, the Abramovich era will come to an end.
He bought into the club in 2003 and immediately transformed it into one capable of competing for the highest honours in the game.
Chelsea won five Premier League titles during his spell as owner, as well as two Champions League crowns, the most recent in 2021.
They also lifted the FA Cup five times and the EFL Cup on three occasions.
