The sale of Chelsea FC has been given approval by the UK government following the proposed takeover by the Todd Boehly/Clearlake Consortium.
In a statement, the government said it had “reached a position where we could issue a licence that permits the sale” of the club.
Culture Secretary, Nadine Dorries, said:
We are satisfied the proceeds of the sale will not benefit Roman Abramovich or other sanctioned individuals.
It came after the Premier League Board approved the proposed takeover on Tuesday.
The sale ends Roman Abramovich’s 19-year tenure as the owner of Chelsea.
The government statement said:
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.
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.
Mr Abramovich and his advisers struck a binding £4.25bn deal this month with a group majority-funded by Clearlake Capital, a Californian investment firm, and spearheaded by Todd Boehly.
Chelsea’s former owner was sanctioned by the UK government on 10 March, days after he put the club up for sale, with Downing Street claiming to have proven his links to Russian President Vladimir Putin.
The club was then put under a strict government operating licence, and all of Mr Abramovich’s other UK assets were frozen.
Under the terms of the sanctions, Chelsea have not been able to carry out any transfers, either with existing players or external targets, but following the takeover by the new owners, it will be business as usual again.