Chelsea announce Todd Boehly as the club’s new owner

The consortium led by Todd Boehly has agreed to acquire Chelsea from Roman Abramovich. The proposed deal has to be approved by the UK government and the Premier before it can be done.

A statement from the official Chelsea website says the group and the club had agreed on terms before the takeover.

According to a statement, “Chelsea Football Club can confirm that terms have been agreed for a new ownership group led by Todd Boehly and Clearlake Capital, Mark Walter, and Hansjoerg Wyss, to acquire the Club.”

- Advertisement -

It then says that the club will be bought for £2.5 billion, which will be given to charities.

“Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100% to charitable causes as confirmed by Roman Abramovich. UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.”

“In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation. 

“The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time,” it concludes.

Share:

Follow Us On

- Advertisment -

Latest

EFCC operatives storm Okorocha’s Abuja residence to arrest him

The Economic and Financial Crimes Commission (EFCC) raided Rochas...

Watch the Final Trailer for StrangerThings 4 Volume 1 – Streaming This Friday on Netflix

The last Stranger Things 4 trailer emerged, and it's...

Nicky Oppenheimer beats Johann Rupert to become the richest person in South Africa

Johann Rupert, the founder of Swiss luxury goods conglomerate...

Trending