Todd Boehly ‘signs agreement’ to buy Chelsea in £4bn deal ahead of government approval

Todd Boehly ‘signs agreement’ to buy Chelsea in £4bn deal ahead of government approval

Todd Boehly’s has reportedly signed the purchase agreement to buy Chelsea – a huge step in ending Roman Abramovich’s 19-year ownership of the Premier League club.

The US businessman and his consortium is believed to have agreed a deal worth up to £4billion with Abramovich and is now seeking approval from the UK government and the Premier League. A deal is expected to be completed before the end of the month.

Chelsea were put up for sale by Abramovich just days before the Russian oligarch was sanctioned by the UK government in March for allegedly having ties with Vladimir Putin, something he denies. Putin is currently waging a bloody and unprovoked war in neighbouring Ukraine.

The Blues are currently operating under a special license, which is due to expire on May 31. The UK government will need to issue a new license if and when Boehly’s takeover is approved. Boris Johnson and his colleagues are not expected to stand in the consortium’s way.

Boehly’s consortium will also need to pass the Premier League’s owners’ and director’s test. It’s unclear whether this will be stumbling block at this stage.

As reported by The Telegraph, the signing of the purchasing agreement is seen as the biggest step of the process to date. It is a commitment that transfers the shares of the seller to the buyer – setting a date of completion.

Todd Boehly has taken a huge step in completing his proposed takeover of Chelsea
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Zuma Press/PA Images)

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