Chelsea takeover - Government issues licence to permit American Todd Boehly to buy Premier League club

The UK Government has approved the £4.25bn takeover of Chelsea by a consortium led by the LA Dodgers co-owner Todd Boehly, paving the way for a new era at Stamford Bridge, with the proceeds going to humanitarian causes in Ukraine. The Premier League last night gave its own go-ahead for the deal to go through, meaning only the final paperwork needs to be completed before the club is in the hands of Boehly, an American billionaire, ending 19 years under Roman Abramovich.

Ad/> The Russian oligarch was sanctioned following Moscow’s invasion of Ukraine, because of his links with President Vladmir Putin. The Kremlin’s decision to enter into a war with its neighbour ultimately meant Abramovich needed to sell the club to keep it alive — but only if he would not profit from it.

Chelsea have been operating under a special licence which kept the club running, but with big limitations. Premier LeagueChelsea takeover gets Premier League green light13 HOURS AGO An agreement was reached earlier this month to sell Chelsea to Boehly, with Clearlake Capital, a Californian investment firm, to become the majority shareholders.

The Government is now satisfied that Abramovich will not make any money from the sale, ending almost three months of uncertainty over the future of the club. Once the takeover is complete, which will be imminent, head coach Thomas Tuchel and his team will be able to re-enter the transfer market and negotiate contracts with new and existing players.

/> “Following the sanctioning of Roman Abramovich, the Government has worked hard to ensure Chelsea Football Club has been able to continue to play football,” read a government statement. “But we have always been clear that the long-term future of the club could only be