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Todd Boehly’s £4.25 billion Chelsea takeover gets Premier League nod

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The Premier League board on Tuesday announced it had approved Todd Boehly’s proposed £4.25 billion takeover of Premier League club Chelsea.

A consortium led by Todd Boehly, a co-owner of baseball’s Los Angeles Dodgers, had already agreed to a £4.25 billion ($5.3 billion) deal to buy Chelsea Football club from owner Roman Abramovich on May 7.

And a Premier League statement said Tuesday: “The Premier League Board has today approved the proposed takeover of Chelsea Football Club by the Todd Boehly/Clearlake Consortium.

Read Also: Boehly Consortium Wins Race to Buy Chelsea Football Club

“The purchase remains subject to the (British) Government issuing the required sale licence and the satisfactory completion of the final stages of the transaction.”

Russian billionaire Abramovich put Chelsea on the market in early March, just before he was sanctioned by the British government following Russia’s invasion of Ukraine.

Completing the purchase has been a long process due to government concerns over the potential for Abramovich to profit from the sale.

But a spokesman for UK Prime Minister Boris Johnson confirmed the government were working with the club over the deal.

“We are working closely with Chelsea to progress the sale,” the spokesman said.

“We are holding intense discussions with the relevant international partners to get the necessary approvals and we will set out further details as soon as we can.”

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