After many days of uncertainty over the next season, Chelsea have finally come to an agreement on how the takeover will finally be completed. After Abramovich was sanctioned by the United Kingdom government after Russia’s invasion to Ukraine, he was forced to sell the club but it was not going to be easy.
Abramovich was required to sell the club and was to make no profits from the sell. However, the main hinderance to the takeover was a loan that Abramovich had acquired with the club as security. With the government involved, the best way to manage the selling of the club and paying of the loan has finally been arrived at.
Todd Boehly, Clearlake Consortium were the successful bidders during the purchase of the club after other bidders dropped out and other never met the required threshold. On Tuesday evening, the Premier League officially approved the proposed takeover of Chelsea Football club. Paperworks are set to be finalised in the coming hours and Chelsea can try play catchup with the other clubs.
The approval by the premier league was crucial for Chelsea as their license to run the club was quickly coming to an end. The stall at Chelsea was also disadvantaging the club as they could not conduct any business meaning they missed opportunities to have agreements with any players.
With the takeover about to end soon, Chelsea is expected to recover and start running under new management.
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