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The American billionaire on the verge of buying Chelsea for £4.25bn: Todd Boehly went from college wrestling star to financier with stakes in the LA Dodgers, LA Lakers and songs of Bruce Springsteen...and clinched deal with help from George Osborne

Todd Boehly's £4.25billion Chelsea takeover has been approved by the Government, paving the way for the US businessman to officially take control of the west London club after weeks of upheaval.

Following on from Tuesday night's statement from the Premier League confirming they have given the sale the green light - Whitehall have now followed suit.

The Government says they are now satisfied 'that the full proceeds of the sale will not benefit Roman Abramovich or any other sanctioned individual.'

It comes after weeks of toing-and-froing between club bosses and the Government over the sale of the world-record sale of Chelsea.