EPL confirms approval of Chelsea takeover

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The English premier league board has approved the Boehly-led takeover as the Chelsea fans will now have to wait for the government to approve the takeover after getting an assurance that Roman Abramovich will not benefit from the 4.24 billion euros deal. The proceeds of the sales will go into the frozen accounts that are controlled by the government.

Roman Abramovich was sanctioned by the European Union due to their close relation to Putin and the delay was because he was in possession of a Portuguese passport. In a statement, the premier league said ” The Board has applied the premier League’s Owners’ and Directors’ Test [OADT] to all prospective Directors and undertaken the necessary due diligence.”

”The Membership of the consortium purchasing the club are affiliates of the Clearlake Capital Group, L.p, Toddy Boehly, Hansjorg Wyss and Mark Walter. Chelsea FC will now work with the relevant government to secure the necessary licenses to complete the takeover.”

 

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