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Chelsea sale likely to go ahead

Britain set to approve Abramovich’s sale of Chelsea –

A Chelsea Football Club emblem at Stamford Bridge Stadium in London, U.K., on Friday, March 18, 2022. One side effect of Russias invasion of Ukraine is uncertainty about the future of Londons Chelsea Football Club, one of the most glamorous franchises in the worlds most popular sport.

LONDON, May 23 (Reuters) - Britain is set to approve the sale of Premier League soccer Chelsea to a consortium led by Los Angeles Dodgers part-owner Todd Boehly, a source familiar with the situation told Reuters, after owner Roman Abramovich gave assurances over the deal.

Russian Abramovich put the club up for sale in early March following his country’s invasion of Ukraine.

The British government demanded assurances that Abramovich, who was sanctioned following the invasion – which Moscow calls a special operation – will not benefit from the sale.

The London club earlier this month announced the 4.25 billion pound ($5.2 billion) deal with Boehly’s consortium, backed by Clearlake Capital, for the reigning European champions, subject to receiving the required approvals.

The UK government’s approval of the sale was being finalised on Monday night, the source said, though the deal also faces the need for EU approval, as Abramovich holds a Portuguese passport.

The Financial Times and the BBC were the first to report the pending approval of the sale by the government.

 

(Reporting by Alistair Smout; Editing by Ken Ferris)

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