5/24, 9:03 PM (Source: TeleTrader)
more TeleTrader news

Premier League Board approves Chelsea FC takeover

The Premier League Board announced on Tuesday in a statement that it has decided to officially approve the proposed £4.25 billion ($5.2 billion) takeover of "Chelsea Football Club by the Todd Boehly/Clearlake Consortium."

"The members of the Consortium purchasing the club are affiliates of the Clearlake Capital Group, L.P., Todd Boehly, Hansjorg Wyss and Mark Walter," the statement read. The Board asserted that the "purchase remains subject to the Government issuing the required sale licence and the satisfactory completion of the final stages of the transaction."

Earlier, now ex-Chelsea owner Roman Abramovich made a decision to sell the club following the sanctions the United Kingdom imposed against Moscow over its special military operation in Ukraine.

Baha Breaking News (BBN) / AY