Todd Boehly’s takeover of Chelsea is ‘expected to be completed by the end of the week’
Todd Boehly’s takeover of Chelsea is “expected to be completed by the end of the week”, and the government is now “optimistic” that Roman Abramovich’s £1.6bn loan “will not go to the Russian or his family”.
- US investor Todd Boehly’s consortium has agreed to a £4.25bn takeover of Chelsea.
- However, recently it was feared that the acquisition would fail.
- Although, according to reports, the acquisition could be completed by the end of the week.
The proposed sale of Chelsea to the Todd Boehly consortium is reportedly expected to be completed by the end of the week.
It was feared a takeover would fail due to delays caused by Chelsea parent Fordstam Ltd’s £1.6bn debt to Camberley International Investments, a Jersey-registered company with alleged links to Roman Abramovich.
The Guardian they have now reported that the sale looks “increasingly likely” to be completed this week.
The government is now said to be optimistic that Abramovich’s loan to the club will not go to the Russian oligarch or his family.
There is growing confidence that Abramovich will accept “legally binding guarantees” that would allow the money to be placed in a frozen account that will remain under government control.
A consortium led by US investor Boehly had tentatively agreed terms of a £4.25bn takeover to end the Abramovich era, after the Russian was forced to sell the club following Russia’s invasion of Ukraine. his country.
The sanctions placed on Abramovich meant that the club could not sell game day tickets towards the end of the season, with only season ticket holders allowed to attend games.
However, Chelsea has been granted a special operating license which expires on May 31, and they will need government approval for the sale to be greenlit.
Chelsea takeover by US investor Todd Boehly could be completed by the end of the week
The government is said to be happy that Roman Abramovich’s loan is not being paid back to the Russian oligarch and his family.
The report states that a two-stage process has been proposed in which £2.5bn from the sale to Boehly’s group would go into an escrow account, where it would be held until the government is satisfied the funds are cleared. will go to a charity for the victims. of the war in Ukraine.
It would probably be created after the sale is officially completed and there are guarantees that the foundation will be independent of Abramovich.
May 31 is also the last day for the club to register for European competition next season, while the Premier League will meet in early June to award clubs the required licenses to play next season.
Despite concerns about whether the takeover will go through, Boehly has been present for a number of Chelsea games towards the end of the season, including their FA Cup final loss to Liverpool.
Boehly has been around for recent games since the deal was announced.
Chelsea cannot buy players or sell match day tickets until the acquisition is complete.
Tuchel joked after Chelsea’s draw with Leicester on Thursday that Boehly should be banned from watching the games at Stamford Bridge as he failed to see them win on three occasions.
‘Was he here again? Well that’s a clear sign,” Tuchel said after the Leicester draw. ‘He will be watching on ESPN from Los Angeles next season, that’s for sure. It is already clear that it has to be so. And he was in the Wembley final.
Boehly was in attendance again on Sunday, as Chelsea cruised to a 2-1 victory over Watford.
Chelsea Women manager Emma Hayes has revealed that Boehly made their first contact on a visit to their Cobham training ground, and believes she is a “perfect fit” at the club after having lunch with the American on Friday.
Thomas Tuchel met Boehly for the first time in training camp last Friday
“I had lunch with Todd,” Hayes revealed. ‘He watched the girls train, I had a really lovely couple of hours with him.
‘[He was] charming, really passionate, he’s just a down to earth regular guy, really passionate about chelsea, loves chelsea.
He’s ambitious, like us, and he’s a perfect fit. I saw him at one of the games he went to at Stamford Bridge, but he was up and I was down!