Facts and details in the process of selling Chelsea to an American alliance
Following are the facts about the details of the sale of London club Chelsea in the English Premier League after it announced in the early hours of Saturday morning that an agreement had been reached to transfer its ownership to the consortium led by American businessman Todd Boley and which is backed by Clearlake Capital Group.
*Sale Agreement
The Clearlake-Polly Alliance, which was deemed the best buy-out by New York's Rayne Bank last week, will sign a binding agreement to buy the London club.
Chelsea owner Roman Abramovich cleared the way for the deal to be completed on Thursday after denying reports that he had asked Chelsea to return a 1.5 billion pound ($1.85 billion) loan he made to the club.
* Special license
and Abramovich offered Chelsea for sale after Russian forces invaded neighboring Ukraine on February 24, but he actually did so before the British government imposed sanctions on him under which the club became subject to the British government.
Thus, the British government must issue a special license to approve any sale after obtaining assurances that Abramovich did not obtain any financial gain from the sale transaction.
* The approval of the Premier League
and after the British government approved the sale, the approval of the officials of the Premier League in England and the League of Championship Club Owners of the deal must also be obtained after examining the files of the new owners and officials for any impediments that prevent the completion of the deal, such as having a criminal record or committing irregularities Certain or subject to penalties as well.
* The end of the temporary license for the club on May 31
Last March, the British authorities issued a special temporary license that gives the club some exceptions and allows it to work and continue to compete despite the freezing of its assets due to sanctions.
Chelsea want to complete the sale before the current license expires on May 31.
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