The UK government have given its final verdict as it concerns the sale of Chelsea Football Club following the sanction on Roman Abramovich.
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The good news for all Chelsea fans came from the decision which was taken following a meeting late on Tuesday. According to reports from the outcome of the meeting, the UK government is satisfied that nothing from the sale proceeds will be sent to Abramovich.
Late last night the UK Government reached a position where we could issue a licence that permits the sale of Chelsea Football Club. Following the sanctioning of Roman Abramovich, the Government has worked hard to ensure Chelsea Football Club has been able to continue to play football. But we have always been clear that the long-term future of the club could only be secured under a new owner. Following extensive work, we are now satisfied that the full proceeds of the sale will not benefit Roman Abramovich or any other sanctioned individual. We will now begin the process of ensuring the proceeds of the sale are used for humanitarian causes in Ukraine, supporting victims of the war. The steps today will secure the future of this important cultural asset and protect fans and the wider football community. We have been in discussions with relevant international partners for necessary licences required and we thank them for all their co-operation.
The news came after the Premier League approved the final takeover of Chelsea by Todd Boehly/ Clearlake Consortium.
The Premier League Board has today approved the proposed takeover of Chelsea Football Club by the Todd Boehly/Clearlake Consortium. The purchase remains subject to the Government issuing the required sale licence and the satisfactory completion of the final stages of the transaction.
It is reported that Chelsea are ready to spend at least £200 million during the summer transfer window.