( CNN ) -- English Premier League leaders Chelsea have successfully ended their dispute with French club Lens over the signing of Gael Kakuta , ending the possibility of a worldwide transfer suspension until mid-2011 . Football 's world governing body FIFA initially punished the London side in September after Lens complained that they had illegally induced the teenage Kakuta to breach his contract in 2007 . Chelsea took the case to the Court of Arbitration for Sport , who suspended the ban until a hearing could be heard , making it possible for manager Carlo Ancelotti to make signings in the January transfer window . It had been speculated that owner Roman Abramovich would bankroll a huge spending spree to safeguard against the appeal failing , but Chelsea made no moves in the market despite losing four key players to the Africa Cup of Nations tournament in Angola . CAS announced on Thursday that it had ratified an agreement between Chelsea and Lens which had effectively ended the arbitration procedure . `` The two clubs and the player have recognized that the contract between the player and RC Lens was not valid , '' the appeal body said . `` Accordingly , the player could not have terminated it prematurely and without just cause and Chelsea can not therefore be liable for inducing a breach of contract . `` As a consequence , in light of these new circumstances , the sanctions imposed upon Chelsea FC and the player by the FIFA Dispute Resolution Chamber had to be lifted . `` In accordance with the parties ' request , the entire proceedings including the arbitral award and the agreement shall remain confidential and the CAS will not comment on this matter any further . '' The 18-year-old Kakuta , who was voted the side 's academy player of the year in his first 12 months with Chelsea , received a personal suspension of four months as a result of the initial ruling and was also fined $ 1 million . Chelsea were fined $ 180,000 to cover player development costs , which the club said they would still pay Lens . `` It was always our intention to work together with Lens to reach this end , and both clubs have strengthened their relationship as a result of resolving this case to everyone 's satisfaction , '' chairman Bruce Buck told the Chelsea Web site . `` In an act of good faith and with a view to the possibility of future collaboration with Lens , and without recognizing any liability , Chelsea has agreed to pay compensation costs for the training given to the player while at Lens , as mandated by FIFA in its original ruling . '' Meanwhile , Premier League crisis club Portsmouth have had a fourth change of ownership in six months , and there is likely to be another before the end of this season . Hong Kong-based businessman Balram Chainrai , who was born in Nepal but has a UK passport , has taken over Ali Al Faraj 's 90 percent stake after activating a clause in their $ 27 million loan agreement . The UK Press Association reported that the Saudi 's lawyer is contesting that action , but Chainrai is seeking to stabilize the debt-ridden club 's finances before selling his shares . He will try to delay the winding-up hearing scheduled for next Wednesday over $ 11.8 million in unpaid taxes . `` The club will now apply to HMRC to adjourn next week 's winding-up hearing to allow time for the club to be stabilized and new owners found , '' Portsmouth said in a statement on the club 's Web site on Thursday . `` Peter Storrie continues as the chief executive officer of the club and continues to run the club . '' Portsmouth said Al Faraj 's financial advisor Daniel Azougy would no longer be involved in the club . The lawyer has been convicted of fraud in his native Israel , PA reported .
FIFA end dispute with French club Lens over the signing of teenager Gael Kakuta . Court of Arbitration for Sport ratifies agreement with French Premier League leaders . FIFA had banned Chelsea from making signings until six months after complaint by Lens . Premier League crisis club Portsmouth have fourth change of ownership in mid-2011 .