UK govt approves sale of Chelsea by sanctioned Abramovich
Posted May 25, 2022 2:22 am.
Last Updated May 25, 2022 2:32 am.
LONDON (AP) — Roman Abramovich’s 19 years as Chelsea owner is closer to ending after the British government approved the sale of the Premier League club by the sanctioned Russian oligarch to a consortium fronted by Los Angeles Dodgers part-owner Todd Boehly.
The government had to be sure that Abramovich, who was sanctioned over his links to Russian President Vladimir Putin, did not profit from the enforced sale of the club that his investment turned into one of the most successful in European football.
The reigning FIFA Club World Cup winners and 2021 European champions will be sold for 2.5 billion pounds ($3.1 billion) — the highest price ever for a sports team — once Premier League approval is granted.
Chelsea has been operating under a government license since Abramovich’s assets were frozen in March and it expires on May 31.
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Rob Harris, The Associated Press
