The UK government is set to approve Chelsea’s 4.25 billion Pounds sale in the next 24 hours however, the deal “still has major hurdles to overcome”.

It is understood that, because owner Roman Abramovich has a Portuguese passport, the takeover needs to be licensed by authorities in that country too.

Ministers are now said to be in “intense discussions” with their counterparts at the European Commission to provide them the assurances they need to approve the deal.

Chelsea have agreed terms on a deal with a private-equity funded consortium led by US investor Todd Boehly, co-owner of the LA Dodgers baseball team.

The club was put up for sale before owner Abramovich was sanctioned for his alleged links to Russian president Vladimir Putin following the invasion of Ukraine.

The government then issued a special license for Chelsea to continue to operate, which expires on 31 May.

Source: BBC

Leave a Comment

Your email address will not be published. Required fields are marked *

X