BREAKING: UK government makes Bruce Buck & Marina Granovskaia decision ahead of Chelsea sale
According to reports, the UK government will not reject Chelsea’s sale if chairman Bruce Buck and club director Marina Granovskaia remain at the club.
Todd Boehly’s consortium inked a deal to buy Chelsea on Friday, bringing the club’s takeover narrative to a new chapter.
According to Ben Jacobs, the UK government, which must approve the sale in order for it to proceed, will not object if Bruce Buck and Marina Granovskaia continue at the club.
This comes as it was revealed that DCMS committee chairman Julian Knight thought the pair staying would be a “unsettling development.”
After Todd Boehly was seen in attendance at Chelsea’s 2-2 draw with Wolves on Saturday afternoon, the transaction is expected to be finalized in late May.
However, The club released a statement on Friday detailing the transaction that will see Boehly’s consortium take charge.
“Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100% to charitable causes as confirmed by Roman Abramovich.
“UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.”
“In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation.”