FOOTBALL: Portugal approves Abramovich’s Chelsea sale to Todd Boehly consortium

Portugal approves Abramovich’s Chelsea sale to Todd Boehly consortium
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Portugal approves Abramovich’s Chelsea sale to Todd Boehly consortium. The Portuguese government has approved Roman Abramovich’s sale of Chelsea FC to the Todd Boehly consortium.

Abramovich was sanctioned and his assets frozen by the United Kingdom government.

The Russian oligarch then put the Stamford Bridge outfit for sale in early March following the Russian invasion of Ukraine.

The deal, worth more than $5 billion, will see an ownership group led by Todd Boehly take control.

Portugal approves Abramovich’s Chelsea sale to Todd Boehly consortium. Abramovich has Portuguese citizenship and, due to sanctions, Lisbon was required to approve the sale of the West London club.

“Portuguese authorization is a result of the guarantee given by British authorities that proceeds from the sale will be used for humanitarian ends, without benefiting directly or indirectly the club owner, which is on the European Union sanctions list,” the government said in a statement on Wednesday evening.

“The national position has the assent of the European Union,” the Portuguese executive added.

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