Dodgers co-owner Todd Boehly gets green light to take over Chelsea
London, UK - Dodgers co-owner Todd Boehly’s $5.33-billion bid to take over Chelsea looks like it will be successful after the British government said it would issue a license that permits the sale to go through.
Boehly's foray into elite soccer was approved by the English Premier League on Tuesday evening.
"Late last night the UK government reached a position where we could issue a license that permits the sale of Chelsea Football Club," read a government statement.
"Following the sanctioning of Roman Abramovich, the government has worked hard to ensure Chelsea Football Club 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."
The west London club was put up for sale in March before owner Roman Abramovich was sanctioned over his links to Russian President Vladimir Putin.
Chelsea have been operating under a special government license, which expires on May 31.
Boehly to become controlling owner
"Following extensive work, we are now satisfied that the full proceeds of the sale will not benefit Roman Abramovich or any other sanctioned individual," the government statement continued.
"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."
"The 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 licenses required and we thank them for all their cooperation."
Boehly will become Chelsea’s controlling owner once the process is complete.
California investment firm Clearlake Capital will assume the majority shareholding.
Cover photo: Action Images via Reuters