"Today's change of ownership marks a new chapter for Chelsea Football Club in the best interest of its fans, the club and the wider football community," a UK Government statement says, as shared by The New York Times journalist Tariq Panja.

"The club is now no longer subject to the sanctions imposed on Roman Abramovich, an individual who has enabled Putin's brutal and barbaric invasion of Ukraine.

"Since sanctions were imposed on Abramovich on 10 March, we have worked tirelessly to ensure the club can continue to play football, while maintaining the integrity of our sanctions regime.

"Chelsea's long-term future is now secured and binding commitments have been received which ensure sanctioned individuals cannot financially benefit from the sale. The Government retains control to ensure that this is the case."We have begun the process of ensuring the proceeds are used for humanitarian purposes in Ukraine that result from Russian aggression. Further details will be set out in due course."

Todd Boeh;y's consortium has today completed the purchase of Chelsea from Roman Abramovich for ₤4.25 billion.

After the sanctions are lifted, Chelsea will be able to resume the sales of tickets and club merchandise, as well as negotiate incoming and outgoing transfers.