Government approves Chelsea sale with Todd Boehly consortium set to buy club

Abramovich, who bought Chelsea for £140 million in 2003, is unable to receive a single penny from the sale of the club after he was sanctioned by the government in March.

The Russian oligarch had insisted that all net proceeds, believed to be the money from the sale minus legal fees, would be used ‘for the benefit of all victims of the war in Ukraine’. Abramovich has now legally agreed to allow his £1.6bn loan to Chelsea to be placed in a frozen account under government control.

A government spokesperson said: ‘Late last night the UK Government reached a position where we could issue a licence that permits the sale ofRoman Abramovich has been Chelsea’s owner since he purchased the club for £140m in 2003 Football‘But we have always been clear that the long-term future of the club could only be secured under a new owner.

‘We will now begin the process of ensuring the proceeds of the sale are used for humanitarian causes in‘The steps today will secure the future of this important cultural asset and protect fans and the wider football community. We have been in discussions with relevant international partners for necessary licences required and we thank them for all their cooperation.’

football is politics?

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