The Premier League Board has approved a proposed takeover of Chelsea by the Todd Boehly/Clearlake consortium.

Todd Boehly is reportedly part of a consortium that could buy Chelsea from Roman Abramovich. (Kyle Grillot/Bloomberg via Getty Images)

The government is expected to approve the takeover next week, after also receiving legal guarantees that Roman Abramovich will not benefit from the sale of Chelsea meaning that they can approve the £4.25bn deal.

The Premier League added in a statement: “The Board has applied the Premier League’s Owners’ and Directors’ Test (OADT) to all prospective Directors, and undertaken the necessary due diligence.

“The members of the Consortium purchasing the club are affiliates of the Clearlake Capital Group, L.P., Todd Boehly, Hansjorg Wyss and Mark Walter. Chelsea FC will now work with the relevant Governments to secure the necessary licences to complete the takeover.”

The proceeds of the sale are going into a frozen bank account controlled by the government.