The sale of Chelsea Football Club has been approved by the United Kingdom government after granting the club a license.
The same government imposed sanctions on owner Roman Abramovich following the Russian invasion of Ukraine with the owner forced to put his club up for sale but they have now announced that the green light has been given for the sale to proceed.
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Official. 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”.
— Fabrizio Romano (@FabrizioRomano) May 24, 2022
A statement from the government noted: “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.
🚨 UK government clears Chelsea sale. pic.twitter.com/ncIC6lCZ0M
— tariq panja (@tariqpanja) May 25, 2022
“The steps today will secure the future of this important culture asset and protect fans and the wider football community.”
With the approval, American businessman Todd Boehly’s consortium is now set to finalize their £4.25 billion takeover.