The Premier League has approved the takeover of Chelsea by the Todd Boehly/Clearlake consortium. The English league announced this in a statement on Tuesday, stating that the purchase “remains subject to government issuance of the required sales license and satisfactory completion of the final stages of the transaction“.
In its press release, the Premier League explains that its board of directors has applied the “Premier League Owners and Directors Test (OADT) to all potential directors and has undertaken the necessary checks“.
Chelsea will now”work with the relevant governments to obtain the necessary licenses to complete the takeover“, further specifies the Premier League.
The group that will buy the 2021 Champions League winner is led by Todd Boehly, co-owner of the Los Angeles Dodgers baseball team. It also consists of Mark Walterco-owner with him of the Dodgers, the Swiss billionaire Hansjoerg Wyss and US investment firm Clearlake Capital.
This consortium will pay 4.25 billion pounds (4.96 billion euros) to buy the ‘Blues’, according to the press release published by the club on May 7.
The boss of Chelsea, the Russian Roman Abramovitchput the club up for sale in March, days before it was targeted by British sanctions in the wake of Russia’s invasion of Ukraine launched on February 24.
After a long auction process involving several groups, it was that of Mr. Boehly and his investor partners who was chosen by the New York bank Raine Group, which is overseeing the sale.
