The Russian invasion of Ukraine ended two decades of rule over the West London club of multi-billionaire Roman Abramovich, which made it a major player in the Premier League and European football.

He can now give it to the group led by the American Todd Boehly.

The government announced on Wednesday that it had approved the consortium's offer of 4.25 billion pounds (4.97 billion euros), as the Premier League had done on Tuesday.

After this green light from London, the European authorities must still give their approval but this is now considered a formality, according to the BBC.

Amid the turmoil following Russia's invasion of Ukraine, the London-sanctioned Russian billionaire had put the club up for sale on March 2, insisting he would not seek repayment of loans taken out by the club throughout his 19-year rule and that all profits from the operation would go to the victims of the conflict.

Humanitarian causes in Ukraine

After a long bidding process involving several groups, it was that of Mr. Boehly and his investor partners who was chosen by the New York bank Raine Group, which is overseeing the sale.

American Todd Boehly (centre) applauds Chelsea's first goal against Leicester in the Premier League at Stamford Bridge in London on May 19, 2022. Adrian DENNIS AFP

The group of investors is made up, in addition to Mr. Boehly, of Mark Walter, with whom he is co-owner of the Dodgers, the baseball franchise of Los Angeles, of the Swiss billionaire Hansjoerg Wyss, founder of the manufacturing company of medical equipment Synthes , and the American investment company Clearlake Capital.

"Given the sanctions we have imposed on people linked to Putin and the bloody invasion of Ukraine, the club's long-term future can only be secured by a new owner," the minister said on Twitter. Culture, Media and Sport, Nadine Dorries.

"We are confident that the proceeds of the sale will not benefit Roman Abramovich or other sanctioned persons. I would like to thank everyone, especially those in charge who have worked tirelessly to keep the club playing and have enabled this sale, protecting fans and the wider football community."

Since March 2, the club has been playing in the Premier League thanks to a special license which prevents it from offering new contracts to its players or from recruiting them.

The government has assured that it now wants to "start the process to ensure that the proceeds of the sale are used for humanitarian causes in Ukraine, supporting the victims of the war".

Mr Abramovich bought the "Blues" in 2003 for 140 million pounds.

Thanks to the financial manna of the oligarch close to the Kremlin, Chelsea, until then a second knife of English football, suddenly transformed into a major player on the national and European level, accumulating in particular five titles in the Premier League and two Champions Leagues (2012, 2021).

Roman Abramovich cheers and supports Chelsea during a match at Stamford Bridge in London on August 15, 2016. Justin TALLIS AFP/Archives

This season, Chelsea finished third in the Premier League and qualified for the next Champions League.

The club lost in the League Cup and FA Cup finals, both times to Liverpool.

Once the sale is made, the "Blues" will be able to fully resume their activities and reconfigure the team.

According to the British newspaper The Telegraph, Todd Boehly has promised coach Thomas Tuchel a budget of around 200 million pounds to recruit, part of which could come from the sale of certain players.

The German coach should also lose defenders Antonio Rudiger and Andreas Christensen transferred for free to Real Madrid and Barcelona.

In an interview on the Chelsea site conducted before the confirmation of the sale, Thomas Tuchel explained that the club was operating with a "huge disadvantage" and should be agile in the transfer market.

© 2022 AFP