Owner Roman Abramovich placed Chelsea on the market in early March, just days before he was sanctioned by the British government following Russia's invasion of Ukraine. After a prolonged bidding method related to several organizations, Boehly and his fellow investors have been picked by using Raine Group, the New York financial institution overseeing the sale.
Boehly's consortium includes a fellow co-proprietor of the Dodgers baseball franchise, Mark Walter, Swiss billionaire Hansjoerg Wyss and US investment firm Clearlake Capital. "Chelsea Football Club can confirm that terms were agreed for a new ownership group, led via Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to collect the club," they stated in a statement.
"Of the total investment being made, £2.5 billion could be applied to buy the stocks in the membership and such proceeds can be deposited right into a frozen UK financial institution account in order to donate 100 percent to charitable reasons as confirmed via Roman Abramovich. UK authorities approval might be required for the proceeds to be transferred from the frozen UK financial institution account."
"In addition, the brand new owners will dedicate £1.Seventy five billion in further investment "for the advantage of the membership", Chelsea said.
The overall cost of the deal smashes the previous record for the sale of a sports activities crew - $1.Ninety four billion for the New York Mets baseball franchise in 2020. Chelsea's forty two,000-ability Stamford Bridge home is in need of principal redevelopment to fit the stadium size and income streams loved via their opponents. But Boehly has a tune record of turning in each stadium improvement and sporting success with the Dodgers.
Thanks to heavy funding in gamers, the Dodgers have made the MLB (Major League Baseball) playoffs each season for the past nine years and received their first World Series for 32 years in 2020. Boehly's consortium still needs to meet the Premier League's proprietors' and directors' test, however Chelsea stated they expect the sale to be finished by way of the quit of the month.
Boehly is anticipated to attend the Premier League clash with Wolves at Stamford Bridge on Saturday. The Chelsea Supporters' Trust stated it welcomed the club's announcement.
"We will hold to preserve close discussions with the prospective owners," it stated in a announcement. "We are optimistic approximately the future of #CFC. We hope that the sale is finished rapidly." Chelsea have been pressured to function under a special licence from the UK authorities due to the fact that Abramovich, who sold the club in 2003, was sanctioned.
The billionaire, described with the aid of the UK authorities as part of Russian President Vladimir Putin's internal circle, has vowed to jot down off the club's £1.Five billion debt owed to him and stated all proceeds of the sale could visit victims of the battle in Ukraine. There have been fears over the future of Chelsea if a sale changed into now not finalised earlier than the licence runs out on May 31st - ministers warning the club was on "borrowed time."
