STORY: The British government has given the go-ahead for the sale of Chelsea FC for $5.3 billion.
That’s according to British sports minister Nadine Dorries Wednesday (May 26).
The Premier League side is now due to be taken over by U.S. billionaire Todd Boehly, with backing from Clearlake Capital.
Boehly is also co-owner of the Los Angeles Dodgers baseball team.
Chelsea’s current owner is Russian billionaire Roman Abramovich.
He put the London-based club up for sale after he was sanctioned by the British government following Russia’s invasion of Ukraine - which Moscow calls a ‘special military operation’.
Dorries Tweeted that the government was ‘satisfied’ proceeds of the sale would not ‘benefit’ Abramovich or other sanctioned individuals.
The consortium agreed terms to buy Chelsea last month and passed the Premier League Owners’ and Directors’ Test on Tuesday (May 24).
Chelsea - last season’s Champions League winners - had operated under a government license that was due to expire on May 31.
The club had confirmed earlier that all proceeds from the sale will be donated to charitable causes by Abramovich.