The Premier League board has approved a proposed takeover of Chelsea by the Todd Boehly/Clearlake consortium, with all eyes now on the government to push through the sale.

The government is set to approve the Chelsea takeover next week after also receiving legal guarantees that Roman Abramovich will not benefit from the sale of Chelsea, meaning it can approve the £4.25billion deal sterling.

The Premier League added in a statement: “The Board of Directors has applied the Premier League Owners and Directors Test (OADT) to all potential directors and has undertaken the necessary due diligence.

“The Consortium members buying the club are affiliates of Clearlake Capital Group, LP, Todd Boehly, Hansjorg Wyss and Mark Walter. Chelsea FC will now work with the relevant governments to secure the necessary licenses to complete the takeover.”

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.

British officials are continuing intense talks with the European Commission and their Portuguese counterparts with the aim of finalizing the sale of Chelsea as quickly as possible, but the complexity and bureaucratic nature of the deal means the process could slow down.

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Sky Sports News chief reporter Kaveh Solhekol reveals the members of the Ted Boehly consortium and what is likely to happen with the £4.25billion they have agreed with Chelsea.

“We are working closely with Chelsea to move the sale forward,” the prime minister’s official spokesman said. “We are conducting intense discussions with relevant international partners to obtain the necessary approvals.

“We want this process to be completed as soon as possible while ensuring that the sanctions regime is protected, but we will say more about that as soon as possible.”

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.

Antonio Rudiger joins Real Madrid on a free transfer and Andreas Christensen, club captain Cesar Azpilicueta and Marcos Alonso have all been linked with Barcelona.

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.
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