Following the government’s decision to penalize Chelsea and exiting owner Roman Abramovich, the club has lost some stability.
Thank you for reading this post, don't forget to subscribe!The sale of Chelsea to a group led by businessman Todd Boehly for £4.25 billion is anticipated to be authorized by the UK Government in the coming hours.
The buyout of Boehly has faced a number of roadblocks in recent weeks, with the UK government attempting to guarantee that Roman Abramovich does not profit from the club’s sale.
On Monday night, though, everything looked to be on track, as Whitehall worked to resolve the outstanding concerns around the Blues takeover, with the transaction set to be approved by Government authorities on Tuesday.
The last technicalities were sorted out on Monday night since current owner Roman Abramovich possesses a Portuguese passport, which means the takeover must be authorized by Portuguese officials as well.
Chelsea’s existing permit runs out on May 31st. The club can then participate in transfer activity, as the takeover is expected to be finalized before then.
