Chelsea: Government FINALLY issues licence to allow Roman Abramovich to sell to Todd Boehly

The Government has finally given the go-ahead of Todd Boehly’s £4.25billion takeover of Chelsea.

The news comes after the Premier League board approved the proposed takeover of the Premier League by the Boehly/Clearlake Consortium.

Los Angeles Dodgers co-owner Boehly had already agreed a £4.25bn purchase of the Blues, with Roman Abramovich‘s ownership poised to end after 19 years.

A statement read: ‘Last night the Government issued a licence that permits the sale of @Chelsea FC. Given the sanctions we placed on those linked to Putin and the bloody invasion of Ukraine, the long-term future of the club can only be secured under a new owner.

‘We are satisfied the proceeds of the sale will not benefit Roman Abramovich or other sanctioned individuals. I want to thank everyone, especially officials who’ve worked tirelessly to keep the club playing and enable this sale, protecting fans and the wider football community.’

As Sportsmail revealed on Monday, the final details being ironed out were linked to the fact current owner Abramovich holds a Portuguese passport meaning the takeover is required to be approved by authorities there, too.

Ministers were in talks with their Portuguese and European Commission counterparts to provide them with the assurances they needed to approve the deal.

The Government has finally issued a licence to allow Chelsea to be sold to Todd Boehly 

Abramovich had hoped for some time to have been able to satisfy Government (Prime Minister Boris Johnson pictured) expectations on how to handle his £1.5billion loan to Chelsea

A statement from the Premier League on Tuesday evening read: ‘The Premier League Board has today approved the proposed takeover of Chelsea Football Club by the Todd Boehly/Clearlake Consortium.

‘The purchase remains subject to the Government issuing the required sale licence and the satisfactory completion of the final stages of the transaction.’

Russian-Israeli billionaire Abramovich has hoped for some time to have been able to satisfy Government expectations on how to handle his £1.5billion loan to Chelsea. 

The 55-year-old was thought to be confident those demands had been reached, and now Downing Street has signed off on the sale.

The Premier League statement added: ‘The Board has applied the Premier League’s Owners’ and Directors’ Test (OADT) to all prospective Directors, and undertaken the necessary due diligence.

‘The members of the Consortium purchasing the club are affiliates of the Clearlake Capital Group, L.P., Todd Boehly, Hansjorg Wyss and Mark Walter.

‘Chelsea FC will now work with the relevant Governments to secure the necessary licences to complete the takeover.’

US magnate Boehly will become Chelsea’s controlling owner once the takeover is complete, though California investment firm Clearlake Capital will assume the majority shareholding.   

Boehly’s consortium completing the takeover will bring to an end a 12-week saga that was sparked by Abramovich officially putting the Blues up for sale on March 2.

Chelsea’s players and staff found out the club was being sold at Kenilworth Road, amid final preparations for their FA Cup fifth-round clash at Luton.

The Blues prevailed 3-2 despite the obvious distractions, as Abramovich released a statement pledging to write off the club’s debt and set up a foundation to aid victims of the war in Ukraine.

Abramovich was then sanctioned by the UK Government on March 10, with Downing Street claiming to have proven his links to Russia president Vladimir Putin.

Chelsea were put under a strict Government operating licence, with all of Abramovich’s other UK assets frozen.

Once Boehly’s takeover is complete the Blues will be able to return to business as usual – and there will be no time to lose on reconfiguring the playing squad.

The sanctions meant Chelsea could not conduct any transfer business, with either existing players or external targets.