The Abramovich era comes to an end: The British government on Wednesday approved the sale of Chelsea to a consortium led by an American businessman..
The Russian invasion of Ukraine has ended two decades of reign at the West London club of Russian billionaire Roman Abramovich, which has made the Blues a heavyweight in England and European football. Now he hands over the baton to the group led by the American Todd Boehly.
The government announced on Wednesday that it had approved the consortium’s 4.25 billion pound ($5.327 million) bid, as the Premier League had done on Tuesday.
After the green light from London, the European authorities still have to give their approval, but for the ‘BBC’ this last step is considered a formality. In the midst of the storm unleashed after the Russian invasion of Ukraine, the Russian billionaire, surrounded by London sanctions, put the club up for sale on March 2, insisting that he would not claim repayment of the loans acquired by the club over the past throughout his 19-year reign, and that all profits from the operation would go to the victims of the conflict.
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Chelsea’s new owner
After a long bidding process involving various groups, it is the consortium of Todd Boehly and his investment partners that has been chosen by the New York bank Raine Group, which supervises the sale.
The group of investors, in addition to Boehly, is made up of Mark Walter, with whom he is co-owner of the Dodgers, a Los Angeles baseball franchise, Swiss millionaire Hansjoerg Wyss, founder of the medical equipment company Synthes, and the company US investment firm Clearklake Capital.
“Given the sanctions we have imposed on people linked to Putin and the bloody invasion of Ukraine, the club’s long-term future can only be secured with a new owner.”Nadine Dorries, British Secretary of State for Culture, Media and Sport, estimated on Twitter.
“We are convinced that the proceeds from the sale will not benefit Roman Abramovich or any other sanctioned persons. I want to thank everyone, especially those responsible who have worked tirelessly to keep the team playing and who have allowed this sale, protecting the fans and the football community in general.”
1/2 Last night the Government issued a license that permits the sale of @ChelseaFC. Given the sanctions we placed on those linked to Putin and the bloody invasion of Ukraine, the long-term future of the club can only be secured under a new owner.
— Nadine Dorries (@NadineDorries) May 25, 2022
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