In a move that signals the government's green light for the deal, Abramovich has submitted a legal guarantee for the sale of Chelsea to the British government, according to British media. U.S. business magnate Todd Boehly is expected to take over Stamford Bridge on Tuesday, becoming the new head of Chelsea.
According to insiders, the agreement reached between the British government and Chelsea to sell the license, the key is Abramovich provided a legally binding guarantee to ensure that the 1.6 billion pounds of loans will not flow into his personal or family accounts, the transaction process can be successfully advanced.
The road to Chelsea's transfer has not been a smooth one, with Abramovich's Portuguese citizenship adding an obstacle to the deal. He will need to provide the Portuguese government with the necessary assurances for the deal and will also need EU approval. Nonetheless, analysis suggests that the Portuguese and EU approvals are more of a formality, given that the British government has already released the deal.
It is understood that the UK government wants the proceeds of the sale to be deposited with a third-party custodian to ensure transparency in the flow of funds. All parties expect the deal to be finalized on Tuesday to avoid missing the entry deadlines for the Premier League and UEFA. The FA plans to announce the list of teams for the new European season at the beginning of June, while the Premier League's meeting will be held on June 8, when licenses will be issued for the new season.
The Premier League has already conducted a detailed background check on the buyer, Dutbosch, and the deal is expected to close quickly once the dust settles on the sale.
