L.A. Dodgers co-owner Todd Boehly's bid approved by UK government

The government worked hard to make sure that Roman Abramovich was able to continue to play football. The long-term future of the club could only be secured by a new owner.

We are satisfied that the full proceeds of the sale will not benefit Roman Abramovich or anyone else. The proceeds of the sale will be used to support victims of the war in Ukraine.

The steps taken today will protect fans and the wider football community. We have been in discussions with relevant international partners for necessary licences.

According to sources,Abramovich asked for money to be paid into another company to help victims of the war in Ukraine, after initially indicating he would write off the loan.

The UK government had reservations about the ownership of the club, and negotiations focused on whether the sale money could be kept.

The special government licence that had been used to operate was due to end on May 31.

The Clearlake Capital Group, L.P., Todd Boehly, Hansjorg Wyss, and Mark Walter were confirmed as affiliates of the consortium by the premier league.

Boehly has minority stakes in the NBA's Los Angeles Lakers and the WNBA's Los Angeles Sparks, as well as being part owner of the MLB's Los Angeles Dodgers.