The British Government has issued a license allowing the sale of the Chelsea football club, Sports Minister Nadine Dorries reported on Wednesday.
The current owner, Roman Abramovich, is subject to sanctions by the British government for his relationship with the Kremlin. The Russian tycoon put the London club up for sale in early March following the Russian invasion of Ukraine.
“We are satisfied that the proceeds of the sale do not benefit Roman Abramovich or any other sanctioned individuals,” Dorries said on Twitter.
“Given the sanctions we imposed on those linked to Putin and the bloody invasion of Ukraine, the club’s long-term future can only be secured under new ownership.”
On Tuesday, the Boehly-Clearlake consortium, which agreed terms to acquire Chelsea for 4.25 billion pounds ($5.33 billion) earlier this month, passed the Premier League owners-managers test.
The sale will follow a two-step process whereby £2.5bn will be held in an escrow account until the government is satisfied the funds will go to a charity for victims of the war in Ukraine. Boehly’s group has committed to investing a further £1.75bn in the club.
Conforms to The Trust Project criteria
