Chelsea New Owner – It’s FINAL, Premier League heavyweights Chelsea will be sold to a consortium led by LA Dodgers & LA Lakers part-owner Todd Boehly. The ($5.2 billion) agreement must first receive approval from the Premier League and the UK government, but is expected to be finalised by the end of the month. Follow Football News Updates & Sports Business News Updates with InsideSport.IN
Know the Chelsea New OWNERS:
- Todd Boehly LED Consortium will own Chelsea now.
- Clearlake Capital, a US investment firm, is set to be the majority owner of the club.
- The consortium also includes Swiss billionaire Hansjoerg Wyss and American Mark Walter, who is the majority owner of the Dodgers and also alongside Boehly – owns a share in the LA Lakers.
Chelsea New Owner: Chelsea confirm SALE to LA Lakers & LA Dodgers owners for $5.2 Billion, Premier League approval still PENDING
The Stamford Bridge-based outfit announced the 4.25 billion pound 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.
Also read Chelsea New Owner: Chelsea confirm terms agreed Boehly-led consortium to buy club
“The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.”
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.
Chelsea New Owner: Chelsea confirm terms agreed Boehly-led consortium to buy club
Abramovich put the club up for sale in early March following his country’s invasion of Ukraine.
He cleared the path for the takeover on Thursday after dismissing reports he wanted a loan given to the club, reportedly worth 1.5 billion pounds ($1.9 billion), to be repaid. read more
The Boehly group, which also includes Swiss billionaire Wyss, were in exclusive negotiations to buy the club after a late bid from British billionaire Jim Ratcliffe was rejected. read more
Groups led by Boston Celtics co-owner Stephen Pagliuca and former British Airways chairman Martin Broughton were earlier eliminated from the bidding process while a consortium led by Chicago Cubs owners the Ricketts family pulled out of the running.
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