Chelsea Takeover: Todd Boehly Signs £4.25 Billion Ownership Deal

Chelsea Takeover: Todd Boehly Signs £4.25 Billion Ownership Deal

  • A consortium led by Todd Boehly has signed a deal to purchase Chelsea football club from Roman Abramovich.
  • The complete transfer of ownership is expected to be completed before the end of May.
  • The total deal is worth £4.25 billion as the consortium overcame fierce competition from Sir Jim Ratcliffe and others to become the Premier League club’s new owners.

Chelsea has confirmed that the consortium led by Todd Boehly has won the bid to take over ownership of the club. The American billionaire will become the new owner of last season’s champion’s league winners, subject to approval from the United Kingdom government.

Todd Boehly

Boehly, who is the part-owner of baseball team LA Dodgers, finalized a deal for the club with help from partners Hanjorg Wyss, Clearlake Capital, and Mark Walter. The deal has been reported to be worth £4.25 billion and it’s a record amount paid for a sports franchise.

A statement released by Chelsea Football Club on early Saturday morning reads:

“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.”

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According to the statement, a total investment of £2.5 billion will be applied to purchase shares in the club. That amount will be deposited in a frozen UK bank account as the billionaire intends to donate everything to charitable causes.

As a part of the agreement, Boehly’s consortium will invest £1.75 billion into the development of the club, female and youth teams included. A large chunk of this money will also go towards the development of Stamford Bridge as prospective owners submitted plans to increase the capacity of the stadium.

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