Chelsea’s takeover is ON: Government FINALLY issue a licence to allow sanctioned Roman Abramovich to sell to Todd Boehly, with a £200m transfer budget on the way – plus £50m for Bruce Buck and Marina Granovskaia

The Government have approved Todd Boehly’s £4.25billion Chelsea takeover.

Following on from Tuesday night’s statement from the Premier League confirming they have given the sale the green light – Whitehall have now followed suit. They are satisfied ‘that the full proceeds of the sale will not benefit Roman Abramovich or any other sanctioned individual.’

A statement read: ‘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.

‘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 co-operation.’

The sale of the club, a record in the realms of football, also raised huge fees for those involved in structuring the deal.

According to The Times, Marina Granovskaia – one of Abramovich’s closest allies at Chelsea – earned £20m for her part in the sale. Chairman Bruce Buck earned £30m. 

It has been reported by The Telegraph that Boehly will make as much as £200m available to Tuchel this summer in a bid to rebuild his squad, having lost the likes of defenders Antonio Rudiger and Andreas Christensen on free transfers.  

The news comes after the Premier League board approved the proposed takeover of the Blues by the Boehly/Clearlake Consortium.

Los Angeles Dodgers co-owner Boehly had already agreed a £4.25bn purchase of the Premier League club, with Abramovich’s ownership poised to end after 19 years.

As Sportsmail revealed on Monday, the final details being ironed out were linked to the fact current owner Abramovich holds a Portuguese passport meaning the takeover was required to be approved by authorities there, too.

Ministers were in talks with their Portuguese and European Commission counterparts to provide them with the assurances they needed to approve the deal

A statement from the Premier League on Tuesday evening read: ‘The Premier League Board has today approved the proposed takeover of Chelsea Football Club by the Todd Boehly/Clearlake Consortium.

‘The purchase remains subject to the Government issuing the required sale licence and the satisfactory completion of the final stages of the transaction.’

Russian-Israeli billionaire Abramovich had hoped for some time to have been able to satisfy Government expectations on how to handle his £1.5bn loan to Chelsea. 

The 55-year-old was thought to be confident those demands had been reached, after rejecting claims he wanted the loan repayed, and now Downing Street has given the go-ahead.

The Premier League statement on Tuesday added: ‘The Board has applied the Premier League’s Owners’ and Directors’ Test (OADT) to all prospective Directors, and undertaken the necessary due diligence.

‘The members of the Consortium purchasing the club are affiliates of the Clearlake Capital Group, L.P., Todd Boehly, Hansjorg Wyss and Mark Walter.

Source:dailymail