LONDON (Reuters) – The British authorities has issued a licence that allows the sale of Chelsea to a consortium led by Los Angeles Dodgers part-owner Todd Boehly and backed by Clearlake Capital, sports activities minister Nadine Dorries mentioned on Wednesday.
Current proprietor Roman Abramovich is topic to sanctions by the British authorities. He put the London membership up for sale in early March following Russia’s invasion of Ukraine, which Moscow calls a “particular army operation”.
“We are happy the proceeds of the sale is not going to profit Roman Abramovich or different sanctioned people,” Dorries mentioned on Twitter.
“Given the sanctions we positioned on these linked to Putin and the bloody invasion of Ukraine, the long-term way forward for the membership can solely be secured beneath a brand new proprietor.”
On Tuesday the consortium, which agreed phrases to purchase Chelsea for 4.25 billion kilos ($5.33 billion) earlier this month, handed the Premier League Owners’ and Directors’ Test.
Chelsea had been working beneath a authorities license since Abramovich’s property have been frozen in March and it was set to expire on May 31.
The membership had earlier confirmed that each one proceeds from the sale shall be donated to charitable causes by Abramovich.
“We are actually happy that the total proceeds of the sale is not going to profit Roman Abramovich or another sanctioned particular person,” mentioned a authorities spokesperson.
“We will now start the method of making certain the proceeds of the sale are used for humanitarian causes in Ukraine, supporting victims of the warfare.”
The completion of the sale will permit Chelsea to renew switch exercise in addition to allow gamers to signal new contracts, which was prohibited as a part of the sanctions imposed.
Only season ticket holders might earlier attend dwelling matches, whereas the federal government additionally introduced a ban on merchandise gross sales.
Groups led by Boston Celtics co-owner Stephen Pagliuca and former British Airways chairman Martin Broughton have been eradicated from the bidding course of, and a consortium led by Chicago Cubs house owners the Ricketts household pulled out of the operating.
(Reporting by William James and Dhruv Munjal, writing by Muvija M; enhancing by Paul Sandle, Peter RUtherford)
