UK Government to approve Chelsea takeover

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Chelsea is now on the edge of a successful transfer of ownership. A consortium led by Todd Boehly will take over the ownership of the London club. Now, the British government also gave the move a green signal.

However, throughout the process, the club was under tight scrutiny. This was to ensure that the Russian oligarch Roman Abramovich cannot benefit from selling the club to the other party. Things didn’t run smoothly throughout the process of the takeover. Doubtedly, scenarios need to be scrutinized. It was to ensure that any proceeds are not going towards Russia’s military invasion of Ukraine.

However, after so many regulatory procedures, Premier League announced Boehly passed the necessary owners’ tests. The British government followed suit after the football-governing body’s assurance.

Statement regarding sale of Chelsea

A statement disclosed the following:

“Late last night the UK government reached a position where we could issue a licence that permits the sale of Chelsea.”

“Following the sanctioning of Roman Abramovich, the government has worked hard to ensure Chelsea 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. We thank them for all their cooperation.”

Once the formalities over this sale get over, Tuchel can proceed further in the transfer market. He will be in a place from where he can make the next decisions over his squad. On the other hand, Daniel Finkelstein will join as the next sporting director for the Blues.

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