The sale of Chelsea has finally been complete as Todd Boehly completes takeover CFC
The sale of Chelsea Football Club is finally complete after Todd Boehly’s takeover jumped its final hurdle with an announcement from the Portuguese government.
, but final ratification from the government of Portugal was required for the deal to go through as Abramovich holds a Portuguese passport. “The Portuguese authorisation follows the guarantee given by the British authorities that the proceeds from the sale will be used for humanitarian purposes, not directly or indirectly benefiting the owner of the club, who is on the European Union sanctions list. The national position has the agreement of the European Commission.
The proceeds of Chelsea’s sale – expected to be £2.5bn – will be frozen in a UK bank account on completion of the sale. The European Union confirmed its ratification of the Chelsea on Wednesday evening, with commissioner for financial services Mairead McGuinness posting on social media.
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