December 6, 2022

Chelsea approve Bo 4.25bn Premier League deal with Boehly federation

The Premier League After all prospective board members have passed the selection of its owners and directors, it has announced that its board has approved the acquisition of Chelsea for 4. 4.25 billion by Todd Bohley’s federation.

Completion of club purchase Roman Abramovich The sale license still needs to be approved by the UK government. Abramovich, who was hit by sanctions after Russia’s occupation of Ukraine, wants to be satisfied that his income will not be valid and that he will guarantee the club a 1.6bn loan.

There is growing confidence that Abramovich will agree to legal binding guarantees that will allow him to keep money in a disabled account under government control. Chelsea’s special operating license expires on May 31, and it is likely to go on sale Formulated this week.

The league said in a statement: “The Premier League team today approved the proposed acquisition. Chelsea Football Club by Todd Bohley / Clearlake Federation. Subject to purchase, required sales license and satisfactory completion of final stages of transaction.

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“The board has applied the Premier League owners ‘and directors’ test to all future directors and has made the necessary diligence.

“The members of the club’s acquisition consortium are subsidiaries of the Clearlake Capital Group, LP, Todd Bohley, Hansborg Wise and Mark Walter.

Later on Tuesday, a government source told PA Media, “I hope everyone is now ready to issue the necessary licenses. The last remaining hurdle is reduced to the many final technical details discussed with the club.

Bohley and Walter are area owners of baseball LA Dodgers and Wise is a Swiss businessman. Clearlake Capital, a US investment firm, holds a majority stake in Chelsea, although Boehly will be the controlling owner.

The government has proposed a two-stage process in which the proceeds of the sale will go into an escrow account, which will provide funding to the victims of the war in Ukraine until it is satisfied. The foundation is expected to be established after the sale is complete and the foundation is guaranteed to be independent of Abramovich. Mike Benrose, former UNICEF UK managing director, has been asked to run the charity.