The government is expected to approve the takeover of Chelsea by the consortium led by Todd Boehly within the next 24 hours.
They have now received legal guarantees that Roman Abramovich will not benefit from the sale of Chelsea, meaning they can approve the £4.25billion deal.
Sky Sports News understands that the proceeds of the sale go into a frozen bank account controlled by the government.
Abramovich is also sanctioned by the European Union and, as he has a Portuguese passport, the sale must be approved by the Portuguese authorities. The deal is expected to be signed on Tuesday.
The deal will end Abramovich’s 19-year ownership of Chelsea, during which the club won 21 trophies, including five Premier League titles and two Champions Leagues.
LA Dodgers baseball team co-owner Boehly and Consortium member Hansjörg Wyss were at Stamford Bridge for Sunday’s 2-1 win over Watford.
The news will be a boost for Thomas Tuchel’s side as they have been unable to buy or sell players or negotiate new contracts with players due to restrictions imposed on Abramovich on his links suspected with Vladimir Putin’s Russia.
Abramovich put Chelsea up for sale days after Russia invaded Ukraine on February 24.
What is the Boehly offer and who is part of it?
- Mr. Boehly’s bid would see the voting rights split equally between him and Clearlake Capital, a California-based private equity firm.
- Clearlake, who has no direct ownership pedigree in major sporting assets, is believed to own the majority of Chelsea shares.
- The group is advised by Goldman Sachs and Robey Warshaw, where former chancellor – and Chelsea fan – George Osborne now works as a partner.
Abramovich was then part of a delegation trying to broker a peace deal between Russia and Ukraine and suffered “symptoms of suspected chemical weapons poisoning” during the talks.
The British government sanctioned the oligarch on March 10 but granted Chelsea a special license – which expires on May 31 – to continue operating.
Sale talks have dragged on in recent weeks, with Abramovich having to deny reports he wanted the £1.5billion loan he had loaned Chelsea back before sanctioning a sale.
Boehly’s bid is successful – what does this mean for Chelsea?
- This is the second time that Todd Boehly has tried to buy Chelsea. His £2.2billion bid was rejected in 2019.
- Chelsea hope to operate normally in the transfer market this summer and Thomas Tuchel will be backed to get the players he needs.
- The potential new owners have already started making plans for the redevelopment of Stamford Bridge.
- Their long-term plan is to turn the ground into a destination stadium where fans will want to spend a lot of time.