The Todd Boehly / Clearlake Consortium's proposed takeover of Chelsea Football Club has been approved by the Premier League Board.
The purchase is subject to the satisfactory completion of the final stages of the transaction and the Government issuing a required sale licence.
The Board applied the owners of the league and the directors of the league to all prospective directors.
The Consortium purchasing the club is made up of affiliates of Clearlake Capital Group, L.P., Todd Boehly, Hansjorg Wyss and Mark Walter.
The necessary licences to complete the takeover will be secured by the relevant Governments.
The owners and directors don't care where the sale money goes.
The U.K. government and the European Commission are talking about how to distribute the sale proceeds.
According to sources,Abramovich asked for money to be paid into another company, which would distribute it to victims of the war in Ukraine, after he initially indicated he would write off the loan.
The U.K. government has reservations about the ownership of Camberley and negotiations are focused on whether the sale money is broken down into a 2.5 billion asking price plus a commitment of 1.75 billion further investment into the business.
Sources on both sides expect the sale to be completed in time, despite the fact that the European Commission has to be satisfied.
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