The UK government has issued a licence to permit the sale of Chelsea Football Club to Todd Boehly for £4.25 billion (AU$7.56 billion), after the deal was close to collapse, due to concerns proceeds wouldn’t reach a good cause.

Current owner, Roman Abramovich, put the club up for sale in March this year, after he was sanctioned by the government over his links to Russian President, Vladimir Putin, with the oligarch also receiving sanctions from the European Union.

On the takeover, a statement from the Department of Culture, Media & Sport (DCMS), said: “Late last night the UK Government reached a position where we could issue a licence that permits the sale of Chelsea Football Club.”

“Following the sanctioning of Roman Abramovich, the Government has worked hard to ensure Chelsea Football Club has been able to continue to play football.

“But we have always been clear that the long-term future of the club could only be secured under a new owner.

“The steps today will secure the future of this important cultural asset and protect fans and the wider football community.

“We have been in discussions with relevant international,” it said.

UK Secretary for State for DCMS, Nadine Dorries, added: “We are satisfied the proceeds of the sale will not benefit Roman Abramovich or other sanctioned individuals.”

“I want to thank everyone, especially officials who’ve worked tirelessly to keep the club playing and enable this sale, protecting fans and the wider football community,” she said.

The announcement brings the 12-week saga to an end, where several parties showed interest in a takeover, including Formula One driver, Lewis Hamilton and Tennis star, Serena Williams.