Roman Abramovich is said to have reached an agreement with the UK government that will see Todd Boehly take over Chelsea and end his ownership of the club.
The Russian billionaire and his legal team are claimed to have discovered a solution to the obstacles that had been holding up the takeover. The two parties have now reached an agreement on how his £1.5 billion loan would be handled, according to the PA News Agency.
According to the Agency, Roman Abramovich has declared repeatedly that he does not want the loan refunded to him, but government officials were concerned that the 55-year-old would change his mind and demand repayment at a later date. However, the Chelsea owner, who was sanctioned by the UK in February in reaction to Russia’s invasion of Ukraine, has now assured Downing Street that he will not return to collect the loan.
Todd Boehly’s £4.25 billion purchase was initially feared to fail before the club’s operating license expires on May 31. But everything appears to be in place for the American to complete his Blues purchase, with the Premier League likely to accept the deal.
Once the purchase is completed, Boehly, the founder of Eldridge Industries and a co-owner of the Los Angeles Dodgers, will become the controlling owner.
The consortium’s most powerful member will be the American businessman, with Clearlake Capital co-founder Behdad Eghbali expected to work closely with him and play a key role in financial choices.