Todd Boehly is set to be announced as the new owner of Chelsea Football Club after the London club revealed that an agreement worth £4.25 billion has been reached.
In a statement that was released on Friday evening by Chelsea FC, it says that the club and Los Angeles Dodger’s Co-owner, Todd Boehly have an agreement in place for the American billionaire to take ownership of the Club in the coming weeks.
The deal is still subjected to all kinds of approval from the regulatory bodies and other parties involved but it’s expected to be completed finally by the end of May. Recall that Chelsea has been for sale since March before Russian Billionaire owner, Roman Abramovich was sanctioned for aiding Russia’s invasion of Ukraine.
Several parties and bodies entered the race to buy Chelsea but after a critical analysis done by Raine Group which has been in charge of Chelsea’s sale, the New York bank gave Boehly and his partners the go-ahead to purchase the London club.
The breakdown of the sale was revealed in Chelsea’s statement; As said by Roman Abramovich back in March, said he intended to use £2.5bn out of the total investment to acquire shares in the football club, and then the sales from shares will be deposited into a bank account in the United Kingdom to be donated to Charity with approval from the UK Government.
Furthermore, the rest of the money invested which is £1.75 billion will be directed to the club for improvement in transfers, facilities, and other benefits.
The purchase is led by Todd Boehly and his group of investors that includes his Dodgers’ co-owner Mark Walter, Clearwater capital investment company, and Swiss billionaire Hansjorg Wyss.
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