Chelsea Football Club has declared that arrangements have been agreed on for the purchase of the English Premier League soccer franchise with a group led by Los Angeles Dodgers part-owner Todd Boehly and backed by Clearlake Capital.
In a statement released early Saturday, the Stamford Bridge-based club confirmed the 4.25 billion pound ($5.2 billion) agreement for the reigning European champions, subject to getting the necessary approvals.
Chelsea Football Club can confirm that arrangements have been negotiated for a new ownership group to acquire the club, led by Todd Boehly, Clearlake Capital, Mark Walter, and Hansjoerg Wyss, according to a statement.
‘The transaction is scheduled to close in late May, pending all regulatory approvals. At that time, more information will be supplied.’
Chelsea announced that the new owners would pay 2.5 billion pounds for the club’s shares and invest another 1.75 billion pounds on the stadium, women’s team, academy, and Chelsea Foundation.
The statement revealed that the revenues would be deposited in a blocked UK bank account and that Russian owner Roman Abramovich, who is now under British government sanctions, would donate them all to charity organisations.
The announcement comes just over three weeks before the club’s current operating licence, which expires on May 31, runs out.
Following his country’s invasion of Ukraine in early March, Abramovich put the club up for sale.
On Thursday, he paved the way for the takeover by refuting claims that he wanted a 1.5 billion pound ($1.9 billion) loan handed to the club repaid.
After a late bid from British billionaire Jim Ratcliffe was rejected, the Boehly group, which includes Swiss billionaire Wyss, were in exclusive talks to buy the club.
Earlier in the bidding process, groups led by Boston Celtics co-owner Stephen Pagliuca and former British Airways chairman Martin Broughton were eliminated, while a consortium backed by Chicago Cubs owners the Ricketts family pulled out.
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