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Chelsea takeover set to be approved imminently

Chelsea take over just a matter of time

The UK government is expected to approve the Todd Boehly-led consortium takeover of Chelsea in the next week.

They have now received legal guarantees that Roman Abramovich will not benefit from the sale of Chelsea meaning that they can approve the £4.25bn deal.

It is understood that the proceeds of the sale are going 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 has to be approved by the Portuguese authorities.

UK officials continue intense discussions with both the European Commission and their Portuguese counterparts in an effort to complete the sale of the London based club as quickly as possible, yet the complexity and bureaucratic nature of the deal mean the process could slow down.

“We are working closely with Chelsea to progress the sale,” said the Prime Minister’s official spokesman. “We are holding intense discussions with the relevant international partners to get the necessary approvals.

“We want to get this process done as soon as possible while also ensuring the sanctions regime is protected, but we will say more on this as soon as we possibly can.”

Read also: Roman Abramovic inserts ANTI-GLAZER clause into the Chelsea deal with incoming owner and rich business man Todd Boehly

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