EPL: Chelsea takeover to be approved within 24 hours

By Joseph Ayinde

The UK government is set to approve the Todd Boehly-led consortium takeover of Chelsea within the next 24 hours, according to Sky Sports.

This came after legal guarantees that current owner Roman Abramovich will not benefit from the sale of the Premier League club.

Chelsea will be sold in a deal believed to be around £4.25bn.

It is understood the proceeds of the sale will go into a frozen bank account controlled by the government.

Abramovich has also been sanctioned by the European Union and, as he has a Portuguese passport, the sale has to be approved by the Portuguese authorities.

It is expected the deal will be signed off on Tuesday.

The deal will bring an end to the Russian’s 19-year ownership of Chelsea, during which the Blues won 21 trophies including five Premier League titles and two Champions Leagues.