The Premier League have approved the Todd Boehly-led consortium's takeover of Chelsea.
The American-Swiss consortium are now set to be officially unveiled as the new owners of Chelsea before the May 31 deadline, when their specialGovernment licence expires.
This comes as the Premier League released a statement on Tuesday evening, confirming their takeover has now been approved after they formally passed the Owners' and Directors' Test.
The statement reads: "The Premier League Board has today (Tuesday) approved the proposed takeover of Chelsea Football Club by the Todd Boehly/Clearlake Consortium.
"The purchase remains subject to the Government issuing the required sale licence and the satisfactory completion of the final stages of the transaction.
"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."
It remains to be seen as to when an official announcement will take place, with previous reports stating a midweek completion was hoped. Now all that is left to do is for the UK Government to issue the new licence to Chelsea to allow the £4.25 billion takeover to go through.
Dan Roan has reported that the takeover could be struck on Tuesday night, with final technical details being discussed.
Chelsea sources, per Ben Jacobs, believe there is 'no danger' of the sale not going through before May 31.
The news will come as a much needed boost to Chelsea and Thomas Tuchel, who will now look to plan for the future ahead of the summer transfer window.