Premier League Approve Boehly's Takeover Of Chelsea

London, (UrduPoint / Pakistan Point News - 25th May, 2022 ) :Todd Boehly's proposed takeover of Chelsea moved a step closer to completion on Tuesday when the Premier League board announced it had approved his purchase of the London club in a deal that could yet be finalised later in the day.

A consortium led by Boehly, a co-owner of baseball's Los Angeles Dodgers, had already agreed a record �4.25 billion ($5.3 billion) deal to buy the Premier League club from owner Roman Abramovich on May 7.

And a Premier League statement said Tuesday: "The Premier League Board has today approved the proposed takeover of Chelsea Football Club by the Todd Boehly/Clearlake Consortium.

"The purchase remains subject to the (British) Government issuing the required sale licence and the satisfactory completion of the final stages of the transaction." Officials would like everything to be wrapped up on Tuesday so Chelsea can meet all registration deadlines for next season's competitions, with an unnamed Government source telling Britain's Press Association: "We now believe everyone will be ready to issue the necessary licences.

"The last remaining hurdle boils down to a number of final technical details that are being discussed with the club." Russian billionaire Abramovich put Chelsea on the market in early March, just before he was sanctioned by the British government following Russia's invasion of Ukraine.

Completing the purchase has been a lengthy process due to government concerns over the potential for Abramovich to profit from the sale.

The total value of the deal smashes the previous record for the sale of a sports team -- $2.4 billion for the New York Mets baseball franchise in 2020.