Chelsea VS U.K Govt Drama Deals 

The UK Government has not yet approved the sale of the Premier League club Chelsea to a consortium led by Los Angeles Dodgers partner Todd Boehly. 

Russian owner Roman Abramovich cannot benefit from the sale price as his assets have been frozen after being sanctioned for his ties to President Vladimir Putin following the invasion of Ukraine. 

Renewals of licenses that allow Chelsea to continue as a company require the government to approve the acquisition. The club went on sale in March, and on May 6th, Bailey’s group was elected as the new owner, and the expeditious process was completed. 

London, Ilustrations

Chelsea released a statement this month from an unnamed  Abramovich spokesman saying he would not seek repayment of a £ 1.6 billion loan. The government still wants their earnings to be put into a frozen account before they are convinced they will eventually go to a charity. 

Abramovich said he hopes the sale will generate $ 2.5 billion in revenue. The government wants assurance that Mr. Abramovich has no say in the Foundation’s choices. After losing to Liverpool in the FA Cup Final on Saturday 

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Chelsea’s season was nearing the end without the Men’s Domestic Cup and could not announce new ownership. The women’s team won the FA Cup Final with Manchester City on Sunday. Abramovich was forced to dismiss the club after being targeted by the British government’s February crackdown on wealthy Russians associated with Putin. Abramovich did not blame the war. 

Chelsea was funded by Dodgers’ lead owner, Swiss billionaire Hans Jürg Wis, and private equity firm Clear Lake Capital after several competing bids were rejected. Along with Mark Walter, we have signed a contract with a consortium that includes Bailey.

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