The British government has approved sale of Chelsea FC to US investor Todd Boehly from Roman Abramovich, sports minister Nadine Dorries said on Wednesday.
According to Dorries' tweet, the $5.33 billion (£4.25 billion) sale won't benefit Roman Abramovich who was forced to put up Chelsea FC for sale in March before being sanctioned as part of the UK's response to Russia's war in Ukraine.
"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." a British government spokesperson said in a statement.
US businessman Boehly's consortium - which is supported by the Clearlake Capital Group, Hansjorg Wyss, Mark Walter and others - is expected to complete their takeover before the end of the month.
It's worth noting that the sale of Chelsea FC means that starting from next season, more than half the teams competing in the English Premier League will be backed by US money. Arsenal FC, Chelsea FC , Liverpool FC and Manchester United FC -- will be owned outright by Americans.
