May 20, 2024


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Chelsea FC announces group led by Todd Boehly to buy the club

Boehly owns stakes in the MLB’s Los Angeles Dodgers, the NBA’s Los Angeles Lakers and the WNBA’s Los Angeles Sparks.

Chelsea says the sale to a consortium led by Boehly and backed by Clearlake Cash is predicted to full afterwards this month, “subject matter to all vital regulatory approvals.”

Abramovich put the club up for sale in early March subsequent the Russian invasion of Ukraine, declaring at the time it was “in the greatest desire of the Club.”

On Friday, the club explained that of the whole financial investment being designed, 2.5 billion lbs ($3.08 billion) will be utilised to invest in the shares in the club and this revenue would be deposited into a frozen United kingdom bank account “with the intention to donate 100% to charitable brings about as verified by Roman Abramovich.”

British isles governing administration acceptance would be demanded for the proceeds to be transferred from the frozen United kingdom financial institution account, the club additional.

It reported the proposed new proprietors would also “dedicate 1.75 billion kilos ($2.16 billion) in even further investment for the gain of the club”. This would include investments in the club’s stadium Stamford Bridge, its academy, the women’s staff and funding for the Chelsea Basis charity.

The announcement of the Boehly offer comes with just above three months remaining on the club’s existing working licence, which expires on May 31.

Amid these previously to have expressed an curiosity in the club are British billionaire Jim Ratcliffe and teams led by Boston Celtics co-proprietor Stephen Pagliuca and former British Airways chairman Martin Broughton, and a consortium led by Chicago Cubs homeowners the Rickets household.

Reuters contributed to this report.