UK Government Approves Roman Abramovich Sale To Todd Boehly Consortium, With Proceeds To Go To Ukraine War Victims

The £4.25billion sale of Chelsea is on the brink of completion after it was formally signed off by the Government.

Ministers have given the green light to Todd Boehly’s takeover after weeks of tense negotiations to ensure current owner Roman Abramovich did not benefit from the proceeds of the deal.

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A Government spokesperson said: “Late last night the UK Government reached a position where we could issue a licence that permits the sale of Chelsea Football Club.

“Following the sanctioning of Roman Abramovich, the Government has worked hard to ensure Chelsea Football Club has been able to continue to play football. But we have always been clear that the long-term future of the club could only be secured under a new owner.

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“Following extensive work, we are now satisfied that the full proceeds of the sale will not benefit Roman Abramovich or any other sanctioned individual. We will now begin the process of ensuring the proceeds of the sale are used for humanitarian causes in Ukraine, supporting victims of the war.

“The steps today will secure the future of this important cultural asset and protect fans and the wider football community. We have been in discussions with relevant international partners for necessary licences required and we thank them for all their cooperation.”

More follows.

Photo Credit: Getty

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