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Britain set to approve Abramovich’s sale of Chelsea – source

Britain set to approve Abramovich’s sale of Chelsea – source

LONDON, May 23 – After owner Roman Abramovich given assurances over the deal, Britain is ready to accept the sale of Premier League soccer Chelsea to a consortium led by Los Angeles Dodgers part-owner Todd Boehly, according to a source familiar with the matter.

Following his country’s invasion of Ukraine, Russian Abramovich put the club up for sale in early March.

The British government requested guarantees that Abramovich, who was sanctioned as a result of the invasion, which Moscow refers to as a “special operation,” would not profit from the sale.

The London club announced a 4.25 billion pound ($5.2 billion) bid for the reigning European champions with Boehly’s group, which is backed by Clearlake Capital, earlier this month, subject to getting the necessary approvals.

The sale was approved by the UK government on Monday night, according to the source, albeit the deal still needs EU clearance because Abramovich possesses a Portuguese passport.

The Financial Times and the BBC were the first to report on the government’s pending approval of the sale.