Chelsea has revealed that Todd Boehly’s consortium has agreed to buy the club from Roman Abramovich.
The proposed arrangement, however, must be authorized by the UK government and the Premier League before it can be implemented.
To gain the purchase of the west London club, Boehly outbid Sir Jim Ratcliffe and other parties led by Stephen Pagliuca and Sir Martin Broughton, respectively.
An official statement via Chelsea’s website was released on the immediate effects after the agreement was reached between the government and the Americans.
🚨🔵 Official. Chelsea statement now confirms 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”. #CFC
It’s the end of Roman Abramovich era. pic.twitter.com/fTw5EMdd8p
— Fabrizio Romano (@FabrizioRomano) May 7, 2022
“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.”
“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.”
The Blues will take on Wolves in the Premier League on Saturday and there are high chances that the club’s new chairman will sit in the stands at Stamford Bridge
Who is Todd Boehly? His net worth?
A huge crisis that was expected to be held in the summer is now done and dusted and Chelsea fans will be delighted with the new ownership.
The American businessman currently has a net worth that sits around £4.7bn. Boehly is the CEO of Eldridge Industries, which indulges in technology media and real estate, as well as sports.
Boehly is a part-owner of the Los Angeles Dodgers and his past history suggests that he has a good amount of knowledge in the footballing world as well.
With an adequate amount of fortune to take Chelsea close to the league title, an exciting future is well on the cards for the West Londoners.
