Audio By Carbonatix
The Premier League has approved the £4.25bn takeover of Chelsea by a consortium led by LA Dodgers co-owner Todd Boehly.
The league says the consortium has passed its owner's and directors test.
The Premier League club was put up for sale before owner Roman Abramovich was sanctioned over his links to Russian President Vladimir Putin.
The purchase remains subject to the Government issuing the required sale licence.
The final stages of the transaction will then need to be completed.
The government does not want Abramovich to make any proceeds from the sale.
Earlier this month the deal had seemed close to collapse over concerns proceeds would not reach good causes as promised by Abramovich.
Abramovich denied that he had asked for his £1.5bn loan to Chelsea be repaid when the club was sold.
Several parties expressed an interest but Chelsea agreed to sell to the Boehly-led consortium earlier in May.
The consortium is led by Boehly but Clearlake Capital, a Californian private equity firm, would own a majority of the shares in Chelsea. Other investors include US billionaire Mark Walter, also a co-owner of the LA Dodgers, and Swiss billionaire Hansjoerg Wyss.
Chelsea have been allowed to continue operating under a special government licence which expires on 31 May.
Latest Stories
-
Mahama reprimanded Baba Jamal – NDC says code of conduct is already working
33 minutes -
Description of conduct as ‘inappropriate’ is based on NDC’s constitution – Gbande on vote-buying claims
56 minutes -
NDC can only reprimand, not prosecute – Gbande explains limits of party sanctions
1 hour -
Even talking about it is progress – NDC’s Gbande defends probe into vote-buying claims
2 hours -
PM asks Sir Jim Ratcliffe to apologise for saying UK ‘colonised by immigrants’
4 hours -
16 hours of daily use is ‘problematic,’ not addiction – Instagram boss
5 hours -
US House votes to overturn Trump’s tariffs on Canada
5 hours -
Dad unlawfully killed daughter in Texas shooting, coroner rules
5 hours -
Anas wins 7 – 0 as SC unanimously rejects attempts to reverse judgment in his favour
5 hours -
Trump tells Netanyahu Iran nuclear talks must continue
5 hours -
The cocoa conundrum: Why Ghana’s farmers are poor despite making the world’s best chocolate
6 hours -
Powerful cyclone kills at least 31 as it tears through Madagascar port
7 hours -
GoldBod summons 6 gold service providers over compliance exercise
7 hours -
Power disruption expected in parts of Accra West as ECG conducts maintenance
7 hours -
Police investigate alleged arson attack at Alpha Hour Church
8 hours
