Chelsea transfer budget set after government approval of takeover

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Todd Boehly’s £4.25billion takeover of Chelsea took a major step towards completion this week when it was cleared by the UK government.

The Premier League had given the green light to the proposal on Tuesday after Boehly and the other members of his consortium passed an owners’ test.

But the deal was still subject to the government’s belief that none of the money from the sale would go to Chelsea owner Roman Abramovich, who was sanctioned in March for alleged links to Russian President Vladimir Putin.

Following these sanctions, Chelsea received a special license to allow the club to continue operating.

This license was due to expire at the end of May, but a new revised version was published late on Tuesday evening, which will allow the sale of the club.

The UK government has given its blessing to a proposal that will see Chelsea FC change hands

A government spokesman said on Wednesday morning, as quoted by The Athletic: “Late last night the UK Government reached a position where we could issue a license which allows the sale of Chelsea Football Club.

“After Roman Abramovich’s sanction, the government worked hard to ensure that Chelsea Football Club could continue to play football. But we have always been clear that the long-term future of the club cannot be insured only by a new owner. .

“After extensive work, we are now confident that all proceeds from the sale will not benefit Roman Abramovich or anyone else sanctioned. We will now begin the process to ensure that the proceeds from the sale are used to humanitarian causes in Ukraine, supporting victims of war.

“Today’s steps will secure the future of this important cultural asset and protect fans and the wider football community. We have had discussions with the relevant international partners for the necessary licenses required and we thank them for all their cooperation.

Although the majority of the money from the sale will go to charity, The temperature claims around £50m will be paid to two key figures at Stamford Bridge – £20m to Marina Granovskaia and £30m to chairman Bruce Buck.

Chelsea transfer budget set at £200m

Meanwhile, The Telegraph report that around £200m are set to be made available in the form of a summer transfer budget.

Chelsea manager Thomas Tuchel will likely be grateful for the opportunity to strengthen his side, which finished third in the Premier League – 19 points below champions Manchester City.

Tuchel’s top priority should be a new centre-back as Antonio Rudiger and Andreas Christensen are set to leave on free transfers in June.

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