Breaking: Premier League approve Chelsea takeover led by Todd Boehly
The Premier League have confirmed that they have approved the proposed takeover of Chelsea Football Club by a consortium led by LA Dodgers owner Todd Boehly, subject to certain conditions.
In a statement released by the organisation, the league has said:
"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."
#CFCOfficial. The Premier League Board has today approved the proposed takeover of Chelsea Football Club. 🔵 #CFC
“The purchase remains subject to the U.K. Government issuing the required sale licence and the satisfactory completion of the final stages of the transaction”.
Chelsea takeover saga finally over following months of specualtion
The west London club have been operating on a special licence since March 10, which was granted to them by the UK Government. The move came following sanctions placed on former owner Roman Abramovich amid allegations that he had connections with Vladimir Putin after the Russian invasion of Ukraine.
BBC Sport has reported that the Boehly-led deal will be worth around £4.25 billion. Abramovich has denied that he has asked the club for the repayment of the £1.5 billion loan he lent them.
The report also claims that Clearlake Capital, a Californian private equity firm, would own a majority of the shares in the Blues. Other investors include US billionaire Mark Walter and Swiss billionaire Hansjoerg Wyss.
Premier League confirm approval of Boehly-led Chelsea takeover