{"id":1098609,"date":"2022-05-25T09:11:21","date_gmt":"2022-05-25T09:11:21","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/05\/25\/uk-government-issue-licence-for-todd-boehlys-takeover\/"},"modified":"2022-05-25T09:11:21","modified_gmt":"2022-05-25T09:11:21","slug":"uk-government-issue-licence-for-todd-boehlys-takeover","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/05\/25\/uk-government-issue-licence-for-todd-boehlys-takeover\/","title":{"rendered":"UK government issue licence for Todd Boehly&#8217;s takeover"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"522\" class=\"entry-thumb\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/05\/0_GettyImages-1240836305-696x522.jpg\"   alt=\"Todd Boehly\" title=\"Todd Boehly\"\/><\/div>\n<p>The government has approved the \u00a34.25bn takeover of Chelsea by a consortium led by LA Dodgers co-owner Todd Boehly.<\/p>\n<p>The London club was\u00a0put up for sale\u00a0in March before owner Roman Abramovich was\u00a0sanctioned over his links to Russian president Vladimir Putin.<\/p>\n<p>On Tuesday, the Premier League\u00a0said the consortium\u00a0had passed its owners\u2019 and directors\u2019 test.<\/p>\n<p>Chelsea have been operating under a special government licence which expires on 31 May.<\/p>\n<p><!-- \/22191989129,1002554\/MGL\/mgl_ado_atunwa_300x250 --><\/p>\n<p>\u201cLate last night the UK government reached a position where we could issue a licence that permits the sale of Chelsea,\u201d a government spokesperson said in a statement on Wednesday.<\/p>\n<p>The government does not want Abramovich to receive any of the proceeds from the sale, which will instead go into a frozen bank account to be donated to charity.<\/p>\n<p>The statement added: \u201cFollowing the sanctioning of Roman Abramovich, the government has worked hard to ensure Chelsea 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.<\/p>\n<p>\u201cFollowing 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.<\/p>\n<p>\u201cThe 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 cooperation.\u201d<\/p>\n<p>Earlier this month the deal had\u00a0seemed close to collapse\u00a0over concerns proceeds would not reach good causes as promised by Abramovich.<\/p>\n<p>Abramovich\u00a0denied that he had asked for his \u00a31.5bn loan\u00a0to Chelsea be repaid when the club was sold.<\/p>\n<p>Several parties expressed an interest but Chelsea agreed to sell to the Boehly-led consortium\u00a0earlier in May.<\/p>\n<p>The consortium is led by Boehly, but Clearlake Capital \u2013 a Californian private equity firm \u2013 would own a majority of the shares in Chelsea. Other investors include US billionaire Mark Walter, also a co-owner of the LA Dodgers, and Swiss billionaire Hansjorg Wyss.<\/p>\n<p>Chelsea finished the Premier League season in third place, losing both the EFL Cup and FA Cup finals to Liverpool on penalties, and going out of the Champions League in the quarter-finals.<\/p>\n<p>Former Chelsea chief executive Peter Kenyon told BBC Radio 4\u2019s Today programme the move would be a \u201ccomplete relief\u201d for everyone connected to the club.<\/p>\n<p>\u201cToday\u2019s announcement will be complete relief that [Chelsea] can get on with business as usual and do what is needed to ensure the team is best prepared for next season,\u201d said Kenyon.<\/p>\n<p>\u201cWe\u2019ve got a very short transfer window and plans will have been made before.<\/p>\n<p>\u201cThey have already lost some players through not being able to re-sign them so I think everybody \u2013 the squad and the management \u2013 will be relieved they can get on with the job they\u2019re employed to do.\u201d<\/p>\n<p>            <!--  [embed]https:\/\/www.youtube.com\/watch?v=videoseries[\/embed]<!--\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>--><\/p>\n<div class=\"youtube-embed\" data-video_id=\"37DJv7peUzo\"><iframe loading=\"lazy\" title=\"GFA maintains Otto Addo as head coach; Boateng Dramani and Hughton also stay in post (25-5-22)\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/37DJv7peUzo?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The government has approved the \u00a34.25bn takeover of Chelsea by a consortium led by LA Dodgers co-owner Todd Boehly. The London club was\u00a0put up for sale\u00a0in March before owner Roman Abramovich was\u00a0sanctioned over his links to Russian president Vladimir Putin. On Tuesday, the Premier League\u00a0said the consortium\u00a0had passed its owners\u2019 and directors\u2019 test. Chelsea have [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1098611,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[14820,1090,5051,7406,7698,10936],"class_list":["post-1098609","post","type-post","status-publish","format-standard","has-post-thumbnail","category-sports","tag-boehlys","tag-government","tag-issue","tag-licence","tag-takeover","tag-todd"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1098609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1098609"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1098609\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1098609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1098609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1098609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}