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Premier League approves Chelsea takeover

Premier League approves Chelsea takeover
© Reuters
The Premier League says that it has approved the proposed takeover of Chelsea, which would see a consortium headed by Todd Boehly replace Roman Abramovich.

Chelsea have moved closer to a change of ownership after the Premier League announced that it had approved Todd Boehly's takeover.

With a May 31 deadline now just a week away, everyone involved in the deal are under pressure to make a takeover official, aware that Chelsea risk entering administration or failing to secure a Premier League licence if the necessary progress is not made.

On Monday, a report suggested that 'a number of hurdles' must still be overcome to complete a deal, but one of those potential obstacles disappeared on Tuesday.

The Premier League says that a consortium headed by American Boehly has passed their Owners' and Directors' Test, a development which will only increase the optimism around the deal.

A statement read: "The Premier League Board has today approved the proposed takeover of Chelsea Football Club by the Todd Boehly/Clearlake Consortium.

"The purchase remains subject to the Government issuing the required sale licence and the satisfactory completion of the final stages of the transaction."

With Chelsea unable to sign, sell or negotiate contracts, head coach Thomas Tuchel has promised to be decisive in the transfer market once given the green light by the relevant authorities.

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General view of Chelsea's Stamford Bridge taken April 2018
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