Chelsea Transfer Budget Set At £200m After Government Approves £4.25bn Takeover

Todd Boehly's £4.25billion Chelsea takeover took a massive step towards completion this week when it was approved by the UK government.

The Premier League had given a green light to the proposal on Tuesday after Boehly and fellow members of his consortium had passed an owners' test.  

But the deal was still subject to the government being convinced that none of the money from the sale would end up with Chelsea owner Roman Abramovich, who was sanctioned in March over alleged links to Russian president Vladimir Putin.

Following those sanctions, Chelsea were issued with a special license to allow the club to continue operating.

That license was due to expire at the end of May but a new revised version was issued late on Tuesday night that will allow the sale of the club to go through.

The UK government has given its blessing to a proposal that will see Chelsea FC change hands

IMAGO/Robert Sambles

A government spokesperson explained on Wednesday morning, as quoted by The Athletic: "Late last night the UK government reached a position where we could issue a license that permits the sale of Chelsea Football Club.

"Following the sanctioning of Roman Abramovich, the government has worked hard to ensure Chelsea Football Club has been able to continue to play football. But we have always been clear that the long-term future of the club could only be secured under a new owner.

"Following extensive work, we are now satisfied that the full proceeds of the sale will not benefit Roman Abramovich or any other sanctioned individual. We will now begin the process of ensuring the proceeds of the sale are used for humanitarian causes in Ukraine, supporting victims of the war.

"The steps today will secure the future of this important cultural asset and protect fans and the wider football community. We have been in discussions with relevant international partners for necessary licenses required and we thank them for all their cooperation."

Although the majority of the money from the sale will go to charity, The Times claims that around £50m will be paid to two key figures at Stamford Bridge - £20m to Marina Granovskaia and £30m to chairman Bruce Buck.

Chelsea Transfer Budget Set At £200m

Meanwhile, The Telegraph reports that approximately £200m is set to be made available in the form of a summer transfer budget.

Chelsea manager Thomas Tuchel will likely be grateful to be given the opportunity to strengthen his squad, which finished third in the Premier League - 19 points below champions Manchester City.

Tuchel's top priority is expected to be a new center-back as Antonio Rudiger and Andreas Christensen are poised to leave on free transfers in June.