The Premier League announced on Tuesday that it has approved billionaire Todd Boehly’s bid to buy Chelsea FC from longtime owner Roman Abramovich, leaving the final stages of a sale to the UK government before the acquisition is complete.
The Premier League board said in a statement that it approved the acquisition after all potential board members had passed the owners and directors’ examinations.
Members of the consortium include Boehly, billionaire Swiss businessman Hansjorg Wyss, billionaire Mark Walter, who co-owns the Los Angeles Dodgers with Boehly, and Clearlake Capital Group.
According to the Premier League, Chelsea FC are in talks with the British government to approve the purchase and secure the “necessary licenses” to complete the takeover.
Guardian reports The British government wants to ensure that no proceeds will go to Abramovich before approving the sale, which the UK approved in March.