Sports

UK Government Approves Chelsea’s £4.25billion Takeover

 

Chelsea’s proposed takeover by the Todd Boehly/Clearlake Consortium is nearing completion after talks accelerated with the UK government speaking with ‘international partners’ according to the spokesman of Prime minister Boris Johnson on Tuesday.

Downing Street chiefs are understood to be liaising with Portuguese counterparts and the European Union.

The Premier League Board has consequently approved the proposed takeover valued at £4.25billion subject to the Government issuing the required sale licence and the satisfactory completion of the final stages of the transaction.

The Board has applied the Premier League’s Owners’ and Directors’ Test (OADT) to all prospective Directors, and undertaken the necessary due diligence.

The members of the Consortium purchasing the club are affiliates of the Clearlake Capital Group, L.P., Todd Boehly, Hansjorg Wyss and Mark Walter.

Chelsea FC will now work with the relevant Governments to secure the necessary licences to complete the takeover which the UK do not expect former owner Roman Abramovich to get any income from.

Izuchukwu Okosi

Izuchukwu Okosi is a Nigerian sports and entertainment journalist with two decades of experience in the media industry having begun his media journey in 2002 as an intern at Mundial Sports International (MSI) and Africa Independent Television (AIT), owners of Daar Communications Plc. In October 2004, Okosi joined Complete Communications Limited, publishers of Complete Sports newspaper and Complete Football magazine as a reporter and later script writer for the Complete Sports studio. He worked there for 13 years until October 2017. Okosi also worked various times as Correspondent, Content creator and Editor at Sports Market International Magazine, Opera News, All Nigeria Soccer Media and Iconic Media Watch. He also undertook freelance writing gigs for some local and international organizations. Okosi is a member of the Actors Guild of Nigeria (AGN), Association of Movie Producers (AMP), Association of Voiceover Artistes of Nigeria (AVOA), Sports Writers Association of Nigeria (SWAN) and Nigeria Union of Journalists (NUJ). He has been part of cast in some Nollywood movies and radio dramas including Blood Money 2, Scores To Settle, Dead End 2, Another Campus Tale and Battle Line. Aside mainstream media and the entertainment industry, he has interests in scouting/unearthing of talents in the sports and creative sectors, exports business and property development.

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