Chelsea confirms Boehly-led consortium to buy club, Chelsea Football Club has confirmed that terms have been agreed with a consortium led by Los Angeles Dodgers part-owner Todd Boehly and backed by Clearlake Capital over the acquisition of the English Premier League soccer team.
The Stamford Bridge-based outfit announced the 4.25 billion pound ($5.2 billion) deal for the reigning European champions in a statement issued in the early hours of Saturday, subject to receiving the required approvals.
“Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the club,” the statement said.
“The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.”
Chelsea confirms Boehly-led consortium to buy club
Chelsea said the new owners would pay 2.5 billion pounds to purchase shares while committing a further 1.75 billion pounds to invest in the stadium, women’s team, the academy and the Chelsea Foundation.
The statement confirmed all proceeds would be placed in a frozen UK bank account and Russian owner Roman Abramovich, who is currently subject to sanctions by the British government, would donate all of the proceeds to charitable causes.
The announcement comes with just over three weeks remaining on the club’s current operating licence, which expires on May 31.
Abramovich put the club up for sale in early March following his country’s invasion of Ukraine.