Todd Boehly's consortium are set to complete the purchase of Chelsea after the government confirmed that they had issued a license to allow the sale to go through. It had been held up by concerns that the proceeds of the £4.24bn dollar deal could benefit sanctioned owner Roman Abramovich but legal assurances have now been provided that that will not happen.
There had been growing concerns among fans that the sale may be delayed past the deadline set for the end of May, with the Premier League confirming the line-up for the 2022-23 campaign at the start of June. Thomas Tuchel's side finished in third place last season and will now be looking to move forward under their new owners.
Boehly is joined by Hansjorg Wyss and Clearlake Capital in the consortium. They saw off competition from the likes of Sir Martin Broughton, Steve Pagliuca and a late attempt from Sir Jim Ratcliffe as Abramovich brought his tenure to a close.
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In 19 years of the Oligarch's ownership Chelsea won 19 trophies but following Russia's invasion of Ukraine, Abramovich put the club up for sale. Days later, he was sanctioned by the UK government for alleged ties to Vladimir Putin, something he has always denied.
Nevertheless, his assets were frozen and subsequently, Chelsea were restricted, unable to negotiate new contracts of transfer fees ahead of a crucial summer. But those restrictions will now be eased.
Taking to Twitter on Wednesday morning, Nadine Dorries MP, the Secretary of State for Digital, Culture, Media and Sport, confirmed the sale can now progress, writing: "Last night the Government issued a licence that permits the sale of @ChelseaFC. 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."
