Chelsea £4.25bn takeover satisfies Premier League owner’s test
The Chelsea takeover bid led by Todd Boehly’s consortium has passed the Premier League owner’s and directors test.
The move ticks yet another box on the list that, once completed, will see the Premier League outfit change hands from sanctioned owner Roman Abramovich.
The Boehly bid has not gone through, however, as it remains dependant on a sale licence being issued by the UK Government.
Issues over the takeover, worth £4.25 in total, centre around where the money will go once the club is sold – but it has been widely reported that the £2.5bn fee for the club will be held in a frozen bank account.
This is the latest episode in a saga which began when Russia invaded Ukraine in February.
Abramovich, who purchased the club in 2003, initially put his beloved Blues – the reigning Champions League winners – in the stewardship of the club’s charitable foundation.
He then confirmed he would sell the club just days before the UK Government and EU sanctioned the Russian-born Oligarch in March.
Issues arose this month surrounding the repayment of the loan held against the club – worth £1.5bn – before the Boehly bid was confirmed buyer.
The deal now hinges on the licence allowing the club to be sold being issued by the Government, with Chelsea’s current operating licence expiring at the end of the month.