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Thursday, May 26, 2022

Chelsea told by UK Government when Todd Boehly can expect takeover confirmation as sanctions are lifted

  Chelsea are heading towards their end of month deadline for completing a prospective takeover, with their issued sporting licence comin...

 

Chelsea are heading towards their end of month deadline for completing a prospective takeover, with their issued sporting licence coming to its conclusion. It comes over three months since the club was wrapped up in the current ownership debacle.

It was due to Roman Abramovich ’s decision to sell after 19-years as owner, however, he was sanctioned by the UK Government shortly after in wake of Russia’s invasion of Ukraine. This froze all of his assets, while the Blues were given the sporting licence to continue their operation, though they weren’t allowed to do things such as sign players or contracts.

A number of bids came in for the club, with the process overseen by US banking firm Raine, and they eventually landed on Todd Boehly as the preferred bidder. The American has been pictured at several games since as the prospective owner nears the completion of the £4.25bn takeover.

In preparation for the deal to go through, manager Thomas Tuchel revealed that he has cancelled any plans for a holiday to discuss the future of the club:

“I cannot go on holiday, it's impossible.There are too many things to clarify and have an opinion on.” 

 
With a squad rebuild in order, the German coach will be hoping the saga can come to a conclusion as quickly as possible. The bid has received the green light from the EU and the Premier League and is just waiting on Government approval as it stands.

Nadine Dorries, the secretary for Digital, Culture, Media and Sports has spoken out on the current restrictions for Chelsea and when Boehly and Tuchel can be expected to have them lifted.

“The Club will be free from previous operating restrictions imposed by sanctions from the point the new ownership takes effect,” she said on Wednesday. “And we expect this to take place in a matter of days.”

It may meant that the takeover will drag on for a few more days, with the deadline looming, however everything seems in place for the club to move forward in due course.

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