BREAKING

Todd Boehly set to complete Chelsea take over

According to reports, the UK Government have finally given the approval to complete the take-over of the London club from former owner Roman Abramovich

The UK government have approved the completion of the sale of Chelsea to Todd Boehly

According to latest reports, the Premier League gave the deal to conclude the purchase of Chelsea, the green light on Tuesday night, May 24 2022.

However, the UK government has now followed suit, confirming the take-over can now be completed as per PA News Agency.

American billionaire, Todd Boehly's consortium - which is supported by the Clearlake Capital Group, Hansjorg Wyss, Mark Walter and others - is expected to complete their takeover before the end of May.

A government spokesperson said: "Late last night the UK Government reached a position where we could issue a license 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.

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 to follow

More from category

Recommended articles

WAFCON 2021: Profiling Nigeria’s 25-woman squad to Morocco

WAFCON 2021: Profiling Nigeria’s 25-woman squad to Morocco

 'It felt like he was kind of sizing me up'- Jared Cannonier reflects in his first meeting with Israel Adesanya

'It felt like he was kind of sizing me up'- Jared Cannonier reflects in his first meeting with Israel Adesanya

Abigail, Angel Michael and Valour lead Bayelsa State to Milo Basketball Championship clean sweep

Abigail, Angel Michael and Valour lead Bayelsa State to Milo Basketball Championship clean sweep

Israel Adesanya offers ₦1.2 billion to anybody that can prove use of steroids

Israel Adesanya offers ₦1.2 billion to anybody that can prove use of steroids

Asisat Oshoala teams up with Nike for the launch of her academy

Asisat Oshoala teams up with Nike for the launch of her academy

Oshoala's Barcelona welcomes Manny Pacquiao to Camp Nou [Photos]

Oshoala's Barcelona welcomes Manny Pacquiao to Camp Nou [Photos]