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Premier League issue new Chelsea takeover statement as Man United and Man City watch on

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Todd Boehly and the Clearlake Consortium have had their £4bn takeover of Chelsea approved by the Premier League. The acquisition of Manchester United and Manchester City 's rivals still needs to go through Government approval but the announcement is a big positive step for the football club.

This comes after former owner Roman Abramovich was sanctioned amid Russia’s invasion of Ukraine. Chelsea were allowed to operate until the end of this month under a special licence.

The club would have been unable to negotiate contracts or purchase players beyond that date if a takeover had not been secured.

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