The Boehly group accepts the terms of the Chelsea takeover

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Chelsea have accepted the terms of the sale of the club to a group of owners led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss for £ 4.25 billion.

The Boehly-led consortium had clearly moved in the race to buy Blues after being chosen as the preferred bidder despite a recent higher bid from British billionaire Jim Ratcliffe.

The takeover, which promises an investment of £ 1.75 billion in the club, is expected to be completed later this month.

In a statement issued in the early hours of Saturday morning local time, Chelsea said: “Of the total investment made, £ 2.5 billion will be spent on buying shares in the club and such revenue will be deposited on a frozen UK bank account with the intention of donating 100 percent to charity as confirmed by Roman Abramovich.

“The approval of the UK Government 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 additional investment for the benefit of the club. This includes investment in Stamford Bridge, the academy, the women’s team and Kingsmeadow and continued funding for the Chelsea Foundation.

“The sale is expected to be completed by the end of May, subject to all necessary regulatory approvals. More details will be given at that time.”

Boehly is a co-owner of the Los Angeles Dodgers, the biggest users in Major League Baseball.





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