Todd Boehly's $5.3 billion takeover of Chelsea has been approved by the UK government

• The UK government has approved the $5.3 billion takeover of Chelsea FC.
• A consortium led by LA Dodgers co-owner Todd Boehly will be the club's new owner.

The UK government has approved the $5.3 billion takeover of Chelsea FC by a consortium led by LA Dodgers co-owner Todd Boehly.

It comes a day after the sale was approved by the English Premier League, which said in a statement that the consortium had passed its owners' and directors' test.

"Late last night the UK government reached a position where we could issue a license that permits the sale of Chelsea," a government spokesperson said in a Wednesday statement.

Chelsea was put up for sale in early March by its owner, the Russian billionaire Roman Abramovich, shortly after the Russian invasion of Ukraine.

Shortly afterwards, Abramovich was slapped with sanctions preventing him from profiting from the sale.

On Wednesday, the British government said that the proceeds of the sale would go into a frozen bank account and then be donated to charity.

"Following the sanctioning of Roman Abramovich, the government has worked hard to ensure Chelsea has been able to continue to play football. But we have always been clear that the long-term future of the club could only be secured under a new owner," its statement continued.

"Following extensive work, we are now satisfied that the full proceeds of the sale will not benefit Roman Abramovich or any other sanctioned individual. 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.

"The steps today will secure the future of this important cultural asset and protect fans and the wider football community. We have been in discussions with relevant international partners for necessary licenses required and we thank them for all their cooperation."

Boehly's consortium includes the Swiss billionaire Hansjörg Wyss, the British property developer Jonathan Goldstein, and the US investment firm Clearlake Capital.

Boehly will be the controlling owner of Chelsea but Clearlake is taking a majority stake in the club.