Premier League

Todd Boehly’s 4.25bn Chelsea takeover clears FINAL hurdle as Portugal’s government authorise sale

Daily Mail Online

Chelsea are ‘imminently’ expected to make an announcement on their £4.25billion takeover after the final hurdle was cleared when the Portuguese government authorised Roman Abramovich‘s sale of the club. 

Portugal’s Ministry of Foreign Affairs (MNE) announced on Thursday they have formally given the green light to Todd Boehly’s takeover of the Blues.

An MNE statement said: ‘The two Competent National Authorities – Ministry of Foreign Affairs and Ministry of Finance – gave the green light to the request received from Roman Abramovich for a humanitarian waiver, allowing the English club to be transacted.’

The decision ‘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, which is on the European Union sanctions list’. 

They added that the European Commission have also approved the move. 

Russian oligarch Abramovich also has Portuguese citizenship, making their government’s official approval a crucial and necessary hurdle to be cleared before the takeover can proceed.

An announcement on Todd Boehly's takeover of Chelsea is expected 'imminently' after the final hurdle was cleared as the Portuguese government authorised Roman Abramovich's sale An announcement on Todd Boehly's takeover of Chelsea is expected 'imminently' after the final hurdle was cleared as the Portuguese government authorised Roman Abramovich's sale

An announcement on Todd Boehly’s takeover of Chelsea is expected ‘imminently’ after the final hurdle was cleared as the Portuguese government authorised Roman Abramovich’s sale

The Russian oligarch has Portuguese citizenship, making their government's approval crucial The Russian oligarch has Portuguese citizenship, making their government's approval crucial

The Russian oligarch has Portuguese citizenship, making their government’s approval crucial

The Premier League side (above) are set to move into a new era with the £4.25billion takeover The Premier League side (above) are set to move into a new era with the £4.25billion takeover

The Premier League side (above) are set to move into a new era with the £4.25billion takeover

Minister of Foreign Affairs João Gomes Cravinho added on Wednesday: ‘In relation to Chelsea, of course, there is an absolutely fundamental point here.

‘Portugal applies the sanctions that were decreed by the European Union. We do it rigorously, we do it without exception, and that is how we apply sanctions’.

The decision comes a day after the British government finally approved the takeover on Wednesday.

DCMS Secretary of State Nadine Dorries revealed the UK government's approval (above) DCMS Secretary of State Nadine Dorries revealed the UK government's approval (above)

DCMS Secretary of State Nadine Dorries revealed the UK government’s approval (above)

Russian-Israeli billionaire Abramovich had hoped for some time to have been able to satisfy Government expectations on how to handle his £1.5billion loan to Chelsea Russian-Israeli billionaire Abramovich had hoped for some time to have been able to satisfy Government expectations on how to handle his £1.5billion loan to Chelsea Prime Minister Boris Johnson Prime Minister Boris Johnson

Abramovich (left) had hoped for some time to have been able to satisfy Government (Prime Minister Boris Johnson, right) expectations on how to handle his £1.5bn loan to Chelsea FC

Abramovich is selling the club in the wake of strict financial sanctions on him from the UK government, following Russia’s invasion of Ukraine.

The UK government stated the 55-year-old has ties to the country’s president Vladimir Putin, and subsequently froze all of his assets, including Chelsea.

The sanctions state Abramovich cannot make any direct or indirect financial gain from the sale, hence the proceeds being used for ‘humanitarian purposes’. 

Boehly has been in attendance in a number of Chelsea matches towards the end of the season Boehly has been in attendance in a number of Chelsea matches towards the end of the season

Boehly has been in attendance in a number of Chelsea matches towards the end of the season

Boehly saw off competition from consortiums fronted by Stephen Pagliuca and Sir Martin Broughton and even a late £4.25bn bid from Britain’s richest man, Sir Jim Ratcliffe. 

A total of £2.5bn will ‘be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100 per cent to charitable causes as confirme…

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