See How Much Todd #Boehly-Led Consortium Bought #Chelsea FC From #Roman Abramovich—-The Genius Media Nigeria reports that consortium led by LA Dodgers co-owner Todd Boehly has agreed terms to buy Chelsea football club in a £4.25 billion deal from Roman Abramovich.
The US baseball team’s co-owner has won the race to buy the Blues amid the most public major sports franchise takeover in history.
The club was put up for sale in March by Roman Abramovich shortly before he was sanctioned over alleged links to President Vladimir Putin amid Russia’s invasion of Ukraine.
Boehly, Clearlake Capital, Mark Walter and Hansjorg Wyss will pay £2.5 billion for the Stamford Bridge Club’s shares.
The new owners must now wait for Premier League and UK Government approval before rubber-stamping the takeover. Chelsea expect the sale to complete by the end of the month.
After a lengthy bidding process involving several groups, Boehly and his fellow investors were picked by Raine Group, the New York bank overseeing Chelsea’s sale.
Boehly’s group of investors includes fellow Dodgers co-owner Mark Walter, Swiss billionaire Hansjoerg Wyss and US investment firm Clearlake Capital.
“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 Chelsea statement said.
“Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100 percent to charitable causes as confirmed by Roman Abramovich,” it said.
“UK government approval will be required for the proceeds to be transferred from the frozen UK bank account.”
In addition, the new owners would commit £1.75 billion in further investment for the benefit of the club, Chelsea said.
