Chelsea Takeover Live Updates: The Portuguese government has given its authorization for the sale of Chelsea by Roman Abramovich, who as a Portuguese passport holder needed its approval. The decision by Portugal was announced on Thursday, a day after the British government approved the sale of Chelsea to a consortium fronted by a part-owner of the Los Angeles Dodgers, Todd Boehly. Follow live Football updates on InsideSport.IN
Chelsea Takeover Live Updates: Portugal approves sale of Chelsea FC by Roman Abramovich, British Government approved takeover to Todd Boehly – Check out
“Portugal gave the green light for the Chelsea sale last night – the final hurdle has been cleared. The Abramovich Era is over”
[@TeleFootball] pic.twitter.com/zsPFgOMq6k
— Liam ✞ (@CFCLiam_2) May 26, 2022
Chelsea Takeover Live Updates: Portugal approves sale of Chelsea by Roman Abramovich
Portugal’s rubber stamp was also needed for the deal worth 2.5 billion pounds ($3.1 billion) the highest price ever for a sports team to go through. “The two competent national authorities, the ministry of foreign affairs and the 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 Portuguese government said in a statement.
The government in Lisbon said its backing of the sale hinged on “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.” It added that its position received the backing of the European Commission.
Chelsea Takeover Live Updates: British Government approved takeover to Todd Boehly
Abramovich gained Portuguese citizenship in 2021 thanks to a law that offered to naturalize the descendants of Sephardic Jews who were forced to leave the Iberian Peninsula centuries before.
Abramovich has been sanctioned by British and European authorities over his links to Russian President Vladimir Putin following the invasion of Ukraine. British and Portuguese authorities had to ensure the oligarch would not profit from the enforced sale of the club.
Abramovich’s assets were frozen in March and Chelsea has been operating under a British government license which expires on Tuesday. The English Premier League approved the sale of the 2021 European champion on Tuesday.
The buyers of the London-based club are led by Todd Boehly who, besides being part owner of the MLB’s Dodgers, also has minority stakes in the NBA’s Los Angeles Lakers and WNBA’s Los Angeles Sparks. Source: AP
Chelsea Takeover Live Updates: Portugal approves sale of Chelsea FC by Roman Abramovich, British Government approved takeover to Todd Boehly – Check out
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