Just in: Premier League set to give ‘Green Light’ to Todd Boehly’s Chelsea takeover after latest decision
According to reports, the Premier League is ready to give Todd Boehly’s takeover of Chelsea Football Club the ‘green light.’
Since Raine Group, the merchant bank managing the auction, selected Boehly as the favored bidder, he has been leading the race to buy the Blues.
A deal is expected to be completed in the coming weeks, with Roman Abramovich stepping down after 19 years as chairman.
The Premier League is expected to approve Boehly’s ownership of the team this week, according to The Telegraph.
The group will shortly receive confirmation that they have passed the league’s test for owners and directors.
They must now wait for authorisation from the UK government before proceeding with the deal.
This comes after a former UNICEF chief executive warned the government that Abramovich’s sanctions will not benefit him in any way from the deal.
Mike Penrose has been assigned the task of establishing the £2.5 billion foundation for Ukraine.
The proceeds from Chelsea’s sale will go to this foundation, with Penrose telling Telegraph Sport that if the Blues’ present owner had a say after the fund’s formation, he would not have been involved.
He’s also explained how the charity will operate to the government, promising that Abramovich and his colleagues will not profit from the sale of the west London club.