Todd Boehly's consortium has secured Chelsea's future but the hard work is just beginning for the latest American billionaire to be lured by the promise of Premier League riches.
Chelsea can finally start planning for the future after the UK government approved Todd Boehly's £4.25 billion ($5.3 billion) purchase of the club, bringing down the curtain on the Roman Abramovich era.
Todd Boehly's proposed takeover of Chelsea moved a step closer to completion on Tuesday when the Premier League board announced it had approved his purchase of the London club in a deal that could yet be finalised later in the day.
The Premier League has approved the proposed sale of Chelsea to a consortium fronted by Los Angeles Dodgers part-owner Todd Boehly, although the British government still needs to sign off on the deal before it can be completed. Boehly has already agreed to buy the club for 2.5 billion pounds ($3.1 billion) - the highest price ever for a sports team - with Roman Abramovich's ownership tenure poised to end after 19 years. The Premier League said in a statement Tuesday that its board "has today approved the proposed takeover of Chelsea Football Club by the Todd Boehly/Clearlake Consortium."