Chelsea Agree Terms With LA Dodgers Part-Owner Todd Boehly To Sell Premier League Club

The sale is expected to complete in late May subject to all necessary regulatory approvals. The group is headed by Todd Boehly who is also the LA Dodgers part-owner and it also includes backing from Clearlake Capital.

Chelsea Agree Terms With LA Dodgers Part-Owner Todd Boehly To Sell Premier League Club
Todd Boehly (Twitter)

London [UK], May 7: Chelsea Football Club on Saturday confirmed that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Premier League club.

The group is headed by Todd Boehly who is also the LA Dodgers part-owner and it also includes backing from Clearlake Capital, a US investment firm.

Also Read | Russia-Ukraine Crisis: Roman Abramovich Confirms That He Is Ready To Sell Chelsea, Net Proceeds From Sale To Be Donated for War Victims.

Of the total investment being made, 2.5 billion pounds 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.

Also Read | Here's What Roman Abramovich's Sanctions Mean For Chelsea.

In addition, the proposed new owners will commit 1.75 billion pounds 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 club added.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)


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