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Boehly consortium set to sign ‘initial sale terms’ with Chelsea — report

It’s happening

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Key Speakers At The 2021 Milken Conference

The Boehly-Clearlake consortium (Clearlake-Boehly? ClearBoehlyLake? LakeBoehlyClear? Finance Bros, Angry Swiss Grandpa, and The Todd? Can we come up with a proper name and acronym for this ownership group already please?) are set to sign “the first contract” in their takeover of Chelsea tomorrow (Friday), as per the latest missives from the UK media who are currently in a state of existential flux and wound-licking after their false overdramatic reporting over Chelsea’s £1.5b debt question.

With Roman Abramovich once again confirming that his intentions regarding the debt or the net proceeds from the club’s sale have not changed, the exact nature of how to handle all these frozen assets and loans are not of primary or immediate (or, really, our) concern. According to the Telegraph, Chelsea are now preparing to apply for the amended licence from the UK Government that would allow the transaction to go ahead, with Boehly & Co “primed to put pen to paper on initial sale terms”.

Another licence to amend our operational capacity should follow soon after, alongside the formality of the Premier League’s approval — all well before either the May 31 (current licence) or June 8 (Premier League licence) deadlines.

Basically, it’s happening!