The British Government approved the sale of Chelsea

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Chelsea is one of the most powerful clubs in the world (Reuters)
Chelsea is one of the most powerful clubs in the world (Reuters)

The British Government approved on Wednesday the purchase of Chelsea by the consortium led by billionaire Todd Boehlyowner of the Los Angeles Dodgers baseball team.

The purchase, valued at 4,250 million pounds (5,330 million dollars or 4,970 million euros), was also approved this Tuesday by the Premier League and will end the reign of Roman Abramovich in London.

The Russian oligarch was forced to put the club up for sale due to the sanctions that weighed on him when Russia began the invasion of Ukraine.

“Last night, the UK Government reached an agreement in which they can issue a license that allows the sale of Chelsea”revealed today a government spokesman in a statement.

Until now, Chelsea operated with a special license granted by the Government so as not to go bankrupt and which ensured the future of the club in the short term, allowing it to earn money through television contracts, for example, and the sale of tickets in certain matches. However, this permit is valid until May 31.

Billionaire Todd Boehly is the new owner of Chelsea
Billionaire Todd Boehly is the new owner of Chelsea

With this new agreement with the Government, the sale operation may be completed and the funds collected will go to a frozen government account, until the situation with Abramovich is clarified, sanctioned by the United Kingdom and the European Union for his links with Vladimir Putin.

The most likely option is that the funds in this frozen account go to some charity.

With the sale of the club, Chelsea will be able to operate normally again. This will mean that the club store will reopen, players can be bought, sold and renewed, as well as tickets for all matches, whether Premier, FA Cup or Champions.

In addition to Boehly, the investment company Clearlake Capital, the American millionaire Mark Walter, also a co-owner of the Dodgers, and the Swiss tycoon Hansjörg Wyss are involved in the consortium.

In the context of the invasion of Russia a Ukraine, Europa carried out strong sanctions on billionaires linked to the Government of Vladimir Putin. One of those targeted in this package of measures that seeks to defund the attacks was Roman Abramovichowner of Chelsea, a club that was forced to put up for sale. This Tuesday, the Premier League approved the terms for the acquisition by a new group.

Russian millionaire Roman Abramovich was forced to part with the English club
Russian millionaire Roman Abramovich was forced to part with the English club

Boehly’s consortium agreed a $5.3m deal to buy the London club to owner Roman Abramovich on May 7. Completing the purchase has been a lengthy process due to government concerns that Abramovich might benefit from the sale.

As part of the sanctions, Chelsea is currently under a special operating license which expires on May 31. The Russian tycoon, who became a Portuguese citizen in 2021 and is also sanctioned in the European Union, is described by the UK government as part of Russian President Vladimir Putin’s inner circle.

(With information from EFE)

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