The £4.25bn bid for the sale of Chelsea, the English football team, has completed the approval process.
The offer was made by the consortium led by Todd Boehly, who is among the owners of the American Los Angeles Dodgers baseball team.
Premier League officials announced that the consortium passed the “ownership and management” test.
Chelsea Football Club was put up for sale before sanctions were imposed on its former owner, Russian oligarch Roman Abramovich, who is known for his closeness to Russian President Vladimir Putin.
The approval of the English football authority and the British government is also required for the sale to be completed.
American investor and businessperson Boehly announced his net worth as $4.5 billion, according to Forbes magazine.
In addition to the Dodgers, Boehly is also among the owners of the USA women’s basketball team Los Angeles Sparks and one of the famous NBA teams Los Angeles Lakers.
“Everyone will agree on granting the necessary license,” a source told the BBC about the sales process.
Businessmen and groups had made offers to the club, but the Chelsea club chose the consortium led by Boehly.
The consortium is headed by Boehly, but the majority of its shares are planned to be held in Clearlake Capital, a California loan and capital management firm. Other investors include US billionaire and co-owner of the Los Angeles Dodgers, Mark Walter, and Swiss billionaire Hansjoerg Wyss.
The consortium will invest 1.75 billion pounds in the club in the Premier League, and this investment will also include the club’s stadium, Stamford Bridge, training academy, women’s football team and Kingsmeadow, the women’s team’s stadium; He also announced that they will continue to support the Chelsea Foundation.
Critical points in Chelsea sale:
February 24: Russia invaded Ukraine
February 26: Roman Abramovich hands over club management to foundation
March 2nd: Abramovich reveals he has plans to sell the club
March 10: Abramovich sanctioned
5th of May: Abramovich denies asking for £1.5bn loan back to Chelsea
May 7: Todd Boehly agrees to give the club £4.25 billion