Chelsea take over approved by Premier League board

The latest report has revealed that the English domestic league board, the Premier League board has approved the proposed takeover of Chelsea by the Todd Boehly/Clearlake Consortium.

The league made this public in a statement on Tuesday, adding that Chelsea will now work with the relevant Government authorities to secure the necessary licences to complete the deal.

In the statement, the league confirmed members of the Consortium as Todd Boehly, Hansjorg Wyss and Mark Walter.

The reign of Russian billionaire Roman Abramovich as the owner of the club is now over as Los Angeles Dodgers co-owner Boehly already agreed to a £4.25bn purchase of the Premier League giants.

“The Premier League Board has today approved the proposed takeover of Chelsea Football Club by the Todd Boehly/Clearlake Consortium,” A statement from the Premier League said.

The final approval, however, lies with the UK government.

The transfer is expected to be complete before the start of the summer transfer window.