Chelsea Football Club is about to change hands after nearly 15 years under Roman Abramovich’s ownership. From their perspective, the Premier League approved the purchase bid proposed by Todd Boehly and the Clearlake group today.
Chelsea fans will be relieved to hear this, given the takeover transaction has caused significant uncertainty for the club. The British government’s penalties have paralyzed their capacity to strike deals with players, and only a change in ownership can lift them. They are now one step closer to that goal.
“The Premier League Board has today authorized the proposed takeover of Chelsea Football Club by the Todd Boehly / Clearlake Consortium,” according to an official statement from the Premier League.
However, as stated in a story by The Independent, there is still one major impediment in the road.
“The purchase is contingent on the government providing the necessary sale license and the successful completion of the final steps of the transaction.”
Following President Vladimir Putin’s decision to attack Ukraine, Russian billionaire Roman Abramovich has been sanctioned.
It remains to be seen how Boehly and the consortium intend to handle the club. The Premier League has been chastised for its owner screening procedure, which has rarely revealed any flaws. In this situation, though, Chelsea fans are likely to be relieved that a settlement has been reached considering the uncertainties surrounding Abramovich.