Sale of Chelsea by sanctioned Abramovich approved by UK govt

LONDON (AP) — Roman Abramovich’s 19-year ownership of Chelsea is ending after the British government approved the sale of the Premier League club by the sanctioned Russian oligarch to a consortium fronted by Los Angeles Dodgers part-owner Todd Boehly.

The government had to be sure that Abramovich, who was sanctioned over his links to Russian President Vladimir Putin after the invasion of Ukraine, did not profit from the enforced sale of the club that his investment turned into one of the most successful in European football.

The reigning FIFA Club World Cup winners and 2021 European champions will be sold for 2.5 billion pounds ($3.1 billion) — the highest price ever for a sports team — with Premier League approval already granted on Tuesday.

Chelsea has been operating under a government license since Abramovich’s assets were frozen in March and it expires on May 31.

“Given the sanctions we placed on those linked to Putin and the bloody invasion of Ukraine, the long-term future of the club can only be secured under a new owner,” British Culture Secretary Nadine Dorries said. “We are satisfied the proceeds of the sale will not benefit Roman Abramovich or other sanctioned individuals."

There were weeks of discussions between officials from Chelsea and the government over securing the guarantee Abramovich could not gain financially. The sale proceeds will initially go into a frozen account before going to charity.

“We will now begin the process of ensuring the proceeds of the sale are used for humanitarian causes in Ukraine, supporting victims of the war," the British government said in a statement. “The steps today will secure the future of this important cultural asset and protect fans and the wider football community.”