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  • Chelsea sale timeline: From Russian invasion of Ukraine to UK Govt nod

Chelsea sale timeline: From Russian invasion of Ukraine to UK Govt nod

The UK government has approved the 4.25 billion pounds takeover of Chelsea by a consortium led by LA Dodgers co-owner Todd Boehly.

3 Min read
Team Asianet Newsable
Published : May 25 2022, 01:52 PM IST
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Chelsea football club's fate was finally sealed on Wednesday after the UK government approved the 4.25 billion-pound takeover by a consortium led by American billionaire and LA Dodgers co-owner Todd Boehly. 

Here's a look at the key moments and timeline of the west London club's sale, which rocked Stamford Bridge for the last three months:

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February 24, 2022: On the order of President Vladimir Putin, Russian forces invaded Ukraine, marking a steep escalation of the war between the two countries, which had begun in 2014. The invasion has caused Europe's fastest-growing refugee crisis since World War II, with more than 6.5 million Ukrainians fleeing the country and a third of the population displaced.

Also read: Thousands of Russians chant 'f**k the war' at concert in St Petersburg; video goes viral

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Image Credit: Getty Images

February 26: Chelsea owner Roman Abramovich announced he would be handing the day-to-day running of the club to trustees. While the Russian remained the Premier League club's owner, he was less hands-on after "giving the trustees of Chelsea's charitable foundation the stewardship and care" of the Blues.

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Image Credit: Getty Images

March 2: Roman Abramovich bowed to growing pressure to call time on his ownership at Chelsea by confirming the club is up for sale. The Russian acted after a fresh call in parliament for him to face sanctions.

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Image Credit: Getty Images

March 10: Roman Abramovich was subjected to sanctions by the UK government after ministers accused him of having "clear connections" to Vladimir Putin's regime and being among a group of businessmen who had "blood on their hands".

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Image Credit: Getty Images

May 5: Russian oligarch Roman Abramovich denied media reports that he has asked for his 1.5 billion-pound loan to Chelsea football club to be repaid, saying that the suggestions are "entirely false".

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Image Credit: Getty Images

May 7: Chelsea confirmed that a consortium led by LA Dodgers co-owner Todd Boehly had won the battle to buy the Premier League club in a 4.25 billion-pound ($5.2 billion) deal.

Also read: Who is Todd Boehly, whose Chelsea takeover deal gets UK government nod?

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Image Credit: Getty Images

Image Credit: Getty Images

May 16: The government was concerned that the takeover of Chelsea could collapse because of the alleged refusal by Roman Abramovich to accept a new sale structure proposed by ministers.

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Image Credit: Getty Images

May 24: The Premier League board approved the proposed takeover of Chelsea by the Todd Boehly/Clearlake Consortium. "The purchase remains subject to the Government issuing the required sale licence and the satisfactory completion of the final stages of the transaction," a statement added.

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Image Credit: Getty Images

Image Credit: Getty Images

May 25: The UK government approves the 4.25 billion-pound takeover of Chelsea by a consortium led by LA Dodgers co-owner Todd Boehly. Chelsea has been operating under a special government licence which expires on May 31. The government does not want Abramovich to receive any of the proceeds from the sale, which will instead go into a frozen bank account to be donated to charity.

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TA
Team Asianet Newsable
Team Asianet Newsable is the official profile used for publishing syndicated news agency stories on Asianet Newsable. This profile ensures accurate, credible, and timely reporting of national and international news across various categories, including politics, sports, entertainment, lifestyle, and more. Team Asianet Newsable curates and adapts wire service content to suit the platform’s diverse, multilingual audience, maintaining journalistic integrity and delivering fact-based news.
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