Chelsea Football Club announced on Friday that a new ownership group led by Todd Boehly has agreed to purchase the club for more than $5 billion.
Todd Boehly has shares in the Los Angeles Dodgers of Major League Baseball. The Los Angeles Lakers of the NBA and the Los Angeles Sparks of the WNBA.
The sale to a partnership managed by Todd Boehly and financed by Clearlake Capital arrange to close later this month. “Subject to all relevant regulatory approvals,” according to Chelsea.
The club’s current owner is Russian businessman Roman Abramovich. As a result, he is subject to British government sanctions and has had his assets frozen.
Following Russia’s invasion of Ukraine in early March, Abramovich put the club up for sale, claiming it was “in the best absorption of the Club.”
On Friday, the club said that 2.5 billion pounds ($3.08 billion) of the total investment make use of buying the club’s shares. With the money being transferred into a frozen UK bank account “to donate 100 percent to charity organizations as confirmed; by Roman Abramovich.”
According to the club, the proceeds from the frozen UK bank account would require authorization from the UK government.
It further stated that the projected new owners would “commit 1.75 billion pounds ($2.16 billion). In additional investment for the club’s benefit.” That would include funds for the Chelsea Foundation charity and investments in the club’s stadium, Stamford Bridge.
However, Todd Boehly is the deal will declare with just over three weeks left on the club’s existing operating license. Which will expire on May 31.
British billionaire Jim Ratcliffe and organizations led by Boston Celtics co-owner Stephen Pagliuca and former British Airways chairman Martin Broughton. Also, a consortium led by Chicago Cubs owners the Rickets family had previously indicated an interest in the team. You can check out updates to OKBET.
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