Report: UK Government must issue two separate licenses for Chelsea takeover

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It is likely that two separate licenses must be issued by the UK Government before the sale of Chelsea can occur, it has been reported.

This comes after odd Boehly’s consortium were named as the final choice by Raine Group as their preferred option to succeed Roman Abramovich at Chelsea.

According to Sky News, it was likely that two separate licenses would ultimately be issued by the Government ahead of the takeover.

IMAGO / NurPhoto

The report states that Government approval will be required to finalize a sale in the form of a special license to be issued by ministers and part of Boris Johnson’s Government.

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It continues to report that a source close to the process stated that it was likely that two separate licenses would ultimately be issued by the government.

One of these licenses would be to implement the transaction itself, and the other to release the proceeds of the sale, which is likely to go to a charity supporting victims of the war in Ukraine at Roman Abramovich’s request.

IMAGO / ZUMA Wire

The Russian wishes to donate at least £2.5 billion to a foundation benefiting war victims, demaning an extra £500 million in the sale process to allow £1 billion to be handed to a charity on the day a sale goes through.

Boehly’s group have until the end of this week to finalize the terms of a takeover as other shortlisted consortia have been told to ‘remain on standby’ if the bid falls short at the last hurdle, with Chelsea closing in on a new owner.

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