News From Manchester: Premier League issue new Chelsea takeover statement as Man United and Man City watch on

The acquisition of Manchester United and Manchester City 's rivals still needs to go through Government approval but the announcement is a big positive step for the football club. This comes after former owner Roman Abramovich was sanctioned amid Russias invasion of Ukraine.

Chelsea were allowed to operate until the end of this month under a special licence. The club would have been unable to negotiate contracts or purchase players beyond that date if a takeover had not been secured.

A statement from the Premier League said: The Premier League Board has today approved the proposed takeover of Chelsea Football Club by the Todd Boehly/Clearlake Consortium.

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