“We are satisfied the proceeds of the sale will no longer advantage Roman Abramovich or different sanctioned individuals,” Culture Secretary Nadine Dorries said.
In a statement the government said it had “reached a role wherein we ought to issue a licence that lets in the sale” of the membership.
“We are glad the proceeds of the sale will no longer gain Roman Abramovich or other sanctioned people,” Culture Secretary Nadine Dorries said.
It came after the Premier League Board authorised the proposed takeover on Tuesday.
The sale will deliver down the curtain on Roman Abramovich’s 19-12 months tenure because the owner of Chelsea.
“Following the sanctioning of Roman Abramovich, the government has worked hard to make certain Chelsea Football Club has been capable of preserve to play football,” the authorities announcement said.
“But we’ve got usually been clean that the lengthy-time period destiny of the club may want to simplest be secured underneath a brand new owner.”
“We will now start the process of making sure the proceeds of the sale are used for humanitarian reasons in Ukraine, supporting sufferers of the warfare,” it delivered.
Mr Abramovich and his advisers struck a binding £4.25bn deal this month with a group majority-funded via Clearlake Capital, a Californian funding company, and spearheaded with the aid of the LA Dodgers element-owner Todd Boehly.
Chelsea’s former proprietor was sanctioned by way of the UK government on 10 March, days after he put the club up for sale, with Downing Street claiming to have tested his hyperlinks to Russian President Vladimir Putin.
The membership became then put under a strict authorities working licence, and all of Mr Abramovich’s other UK assets have been frozen.
Under the phrases of the sanctions, Chelsea have now not been capable of perform any transfers, both with present gamers or external objectives – however once the takeover is complete, the crew can be capable of do business as typical.
There are concerns about the destiny of a £1.5bn mortgage to the membership’s determine company from Mr Abramovich.
The authorities’s sanctioning of Mr Abramovich method he does not have get entry to to the investment required to pay off the loan owed with the aid of Fordstam to Camberley International Investments – a automobile associated with the oligarch.
The mortgage is concept to be repayable on Chelsea’s sale.
Before he become sanctioned, Mr Abramovich said he supposed to write off the mortgage and give the net proceeds from the sale to a brand new basis installation to gain the victims of the warfare in Ukraine.
He has insisted this remains the case, although at one factor officials claimed that they had not seen sufficient assurances or binding legal commitments to prove this.
New owners can not promote stocks for a decade
Mr Abramovich has struck a binding deal that includes the brand new proprietors paying £2.5bn to accumulate his shares and pledges £1.75bn of destiny funding inside the membership’s stadium, academy, and women’s group.
Sky News discovered these days that the terms of the takeover might save you Mr Boehly and his fellow traders paying dividends or taking management fees for a decade.
The new owners may also be prohibited from selling any shares within the club for 10 years, in addition to agreeing to strict limits on the extent of debt that they can take on.
