Todd Boehly’s £4.25bn takeover of Chelsea is expected to be approved by the Government in the next 24 HOURS, with No 10 now satisfied that Roman Abramovich will not receive a penny from the sale
The £4.25billion sale of Chelsea to a US consortium led by tycoon Todd Boehly is expected to be approved by the UK Government in the next 24 hours.
On Monday night, Whitehall were finalising the remaining issues linked to the Blues takeover, with the deal expected to be given the final green light by Government officials as early as Tuesday morning.
The final details being ironed out on Monday night were linked to the fact current owner Roman Abramovich holds a Portuguese passport meaning the the takeover is required to be approved by authorities there, too.
Ministers are in talks with their Portuguese and European Commission counterparts to provide them with the assurances they need to approve the deal.
Boehly’s deal to buy Chelsea has hit a number of stumbling blocks in recent days, most of them linked to the Government’s insistence that Abramovich – a sanctioned individual – shouldn’t benefit from the sale of the club.
But the Russian oligarch is understood to have satisfied the Government that he will not receive a single penny of the sale, though establishing that was difficult due to the club’s complicated ownership structure.
US investor Todd Boehly’s takeover of Chelsea could be completed by the end of the week
The government is said to be happy that Roman Abramovich’s loan won’t be paid to the Russian oligarch or his family
Talks to get a deal over the line have been intense over the past fortnight given the current license Chelsea are operating under expires on May 31.
Likewise, the Football Association is required nominate clubs for UEFA competitions by the start of June, while the Premier League meets on June 9 to ratify the competition’s participants.
Despite concerns over whether the takeover will be completed, Boehly has been in attendance in a number of Chelsea matches towards the end of the season, including their FA Cup final defeat to Liverpool.
Boehly has been in attendance during recent games since the agreement was announced
Chelsea are unable to buy players or sell match-day tickets until the takeover is completed
Tuchel joked after Chelsea’s draw with Leicester on Thursday that Boehly must be banned from watching games at Stamford Bridge, having failed to see them win on three occasions.
‘Was he here again? Well that is a clear sign,’ Tuchel said following the Leicester draw. ‘He will be watching on ESPN from Los Angeles next season, that is clear. It is already clear it has to be like this. And he was at the final at Wembley.’
Boehly attended again on Sunday, where Chelsea did pick up a 2-1 victory over Watford.
Chelsea Women’s manager Emma Hayes revealed Boehly made his first contact on a visit to their Cobham training ground – and believes he is a ‘perfect fit’ for the club after having lunch with the American on Friday.
Thomas Tuchel met with Boehly for the first time at the training ground last Friday
‘I had lunch with Todd,’ Hayes revealed. ‘He watched the girls train, I had a really lovely couple of hours with him.
‘[He was] delightful, really passionate, he’s just a normal down to earth guy, really passionate about Chelsea, he loves Chelsea.
‘He’s ambitious, as we are, and it’s a perfect fit. I saw him at one of the games he went to at Stamford Bridge but he was upstairs and I was downstairs!’