OFFICIAL: Chelsea FC finally sold to an American billionaire
Todd Boehly, a co-owner of the Los Angeles Dodgers, has agreed to purchase Chelsea from Roman Abramovich for £4.25 billion.
Raine Group, the US bank in charge of the Blues sale, chose Boehly as the favored bidder despite stiff competition from British billionaire Sir Jim Ratcliffe. Clearlake Capital backed him up, as did fellow Dodgers owner Mark Walter.
“Arrangements have been made for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter, and Hansjoerg Wyss, to acquire the Club,” the Blues stated in a statement
“As revealed by Roman Abramovich, £2.5 billion of the overall investment will be used to purchase the Club’s shares, with the revenues going into a frozen UK bank account with the goal of contributing 100% to philanthropic organizations.” The funds must be transferred with the permission of the UK government from the restricted UK bank account.
“The proposed new owners will invest an additional £1.75 billion in the Club’s advantage.” This includes money for the Chelsea Foundation as well as investments at Stamford Bridge, the Academy, the Women’s Team, and Kingsmeadow.
“Subject to all requisite regulatory approvals, the sale is scheduled to close in late May.” At that time, more information will be supplied.”
After Abramovich who was sanctioned by the UK government for his alleged role in Russia’s invasion of Ukraine – reportedly requested return of his £1.5 billion loan, the takeover process appeared to have come to a halt.
Chelsea, on the other hand, dismissed the charges as completely false, claiming that the Russian oligarch’s goal was to attract investors to the club.
According to Blues manager Thomas Tuchel, the takeover conflict has had an impact on his team’s performance. The defending European Champions, on the other hand, will try to reverse their fortunes under new ownership.