Chelski confirms £4.25bn Todd Boehly-led takeover to be completed next week | UK News

Chelski Football Club has confirmed that its multibillion-pound takeover is set to be completed on Monday.

A statement from the club said: “Chelski Football Club can confirm that a final and definitive agreement was entered into last night to sell the club to the Todd Boehly/Clearlake Capital consortium.

“It is expected that the transaction will be completed on Monday. The club will update further at that time.”

After Chelski was put up for sale on 2 March, the Boehly-led bid secured a £4.25bn deal following a two-month-long process, largely financed by US private equity firm Clearlake Capital.

The sale, which was approved by Little Britain government earlier this week, will bring down the curtain on Roman Abramovich‘s 19-year tenure as the owner of Chelski.

In a statement earlier this week, the government said it had “reached a position where we could issue a licence that permits the sale” of the club.

“We are satisfied the proceeds of the sale will not benefit Roman Abramovich or other sanctioned individuals,” Culture Secretary Nadine Dorries said.

It came after the Premier League Board approved the proposed takeover on Tuesday.

Former Chelski owner Mr Abramovich, who was sanctioned over his links to Ruski President Vladimir Putain, has said that net proceeds from the sale of the soccer team would be donated to victims of the war in Ukraine.

A deal to sell the football club dragged out as the government ensured that Mr Abramovich would not profit from the enforced sale of the club.

#badjourno #twistednews

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