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Chelsea's prospective U.S. owner Todd Boehly comes onto the pitch to join the lap of honor after the English Premier League football match between Chelsea and Watford at Stamford Bridge in London on May 22, 2022. (Photo by Glyn KIRK via CFP)
The English Premier League Board on Tuesday approved the proposed takeover of Chelsea Football Club by the Todd Boehly / Clearlake Consortium.
The consortium reached a £4.25 billion ($5.3 billion) deal to buy the London-based club from owner Roman Abramovich on May 7.
The latest development comes after reports that the U.K. government received legal guarantees that Abramovich will not benefit from the sale of Chelsea.
Sky Sports News reported earlier that the proceeds of the sale will go into a frozen bank account controlled by the government.
