Chelsea Set to Get New Owner As UK Government Approves Todd Boehly’s £4.25Bn Takeover Bid

• Todd Boehly is set to become Chelsea’s new owner after his consortium’s bid to buy the London club was approved by the UK government
• Boehly’s takeover of Chelsea will bring to an end Roman Abramovic’s era at the club which has lasted for 19 years
• On March2, a week after Vladimir Putin's invasion of Ukraine, Russian billionaire Roman Abramovich placed Chelsea up for sale

Chelsea is set to be under new ownership after the UK government approved the sale of the London club to billionaire, Todd Boehly's consortium for £4.25bn.

Russian billionaire, Roman Abramovich had put Chelsea up for sale officially on March 2 after heavy backlash from the UK government amid Russia's invasion of Ukraine.

According to a report via the Daily Mirror, the deal has finally been approved after the government received legal guarantees that Roman Abramovich will not benefit from the sale.

Boehly emerged as Chelsea’s main bidder after outmuscling three other bids from the Chicago Cubs-owning Ricketts family, Sir Martin Broughton, and the Boston Celtics co-owner Steve Pagliuca.

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The UK government’s approval comes less than 24 hours after the Premier League board approved the sale of the Blues to Todd Boehly.

Roman Abramovic’s Chelsea era comes to an end

Meanwhile, Todd Boehly's takeover of Chelsea brings to an end Roman Abramovic’s 19-year era as Chelsea owner which has seen the Russian transform the Blues into a powerhouse in football.

According to Sky Sports, Chelsea won a total of 21 trophies including the UEFA Champions League and English Premier League under the Russian billionaire after he bought the Blues in2003.

Roman Abramovic was sanctioned by the UK Government after claims the Russian billionaire has proven his links to Russian President, Vladimir Putin.

Premier League board approves Todd Boehly's Chelsea takeover

Earlier, Sports Brief reported the Premier League board has officially approved Todd Boehly's takeover of Chelsea subject to pending licences to be issued by the government.

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Chelsea was put up for sale before owner Roman Abramovich was sanctioned over his links to Russian president Vladimir Putin.

Talks are continuing between Abramovich, the U.K. government and the European Commission over how the sale proceeds will be distributed.