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Premier League approves proposed takeover of Chelsea by Todd Boehly-led consortium

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May 25, 2022 - 08:31 AM

ANKARA (AA) – The Premier League Board approved Tuesday the proposed Todd Boehly/Clearlake Consortium-led takeover of the Chelsea football club.

“The purchase remains subject to the Government issuing the required sale licence and the satisfactory completion of the final stages of the transaction,” it said in a statement.

“The Board has applied the Premier League’s Owners’ and Directors’ Test (OADT) to all prospective Directors, and undertaken the necessary due diligence.”

The £4.25 billion ($5.2 billion) takeover was approved two months after Russian billionaire Roman Abramovic decided to sell the English club in March.

Abramovich was disqualified as club director by the Premier League amid a slew of sanctions against Russia because of Moscow’s war on Ukraine.

He had purchased Chelsea for a reported £140 million ($187 million) in 2003.

Chelsea became one of the top European clubs under his ownership, winning several major titles including two UEFA Champions League, two UEFA Europa League, and five Premier League trophies.

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