The United Kingdom government has issued a licence that grants the sale of Chelsea to the Todd Boehly/Clearlake Consortium, it was announced on Wednesday.
The club were put up for sale after Roman Abramovich was sanctioned by the government for his links to Vladimir Putin following Russia's invasion of Ukraine.
"Late last night the UK government reached a position where we could issue a licence that permits the sale of Chelsea," a government spokesperson said in a statement on Wednesday.
On Tuesday, the Premier League formally approved the Boehly-led takeover that is worth £4.