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Todd Boehly consortium agrees deal to buy Chelsea

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Todd Boehly consortium agreed a deal to buy Chelsea Football Club

Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Club.

According to a statement on the Chelsea website the Todd Boehly consortium will continue to invest in both the men’s and women’s team as well as the Chelsea Foundation.

“Of the total investment being made, £2.5bn 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,” the statement added.

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“In addition, the proposed new owners will commit £1.75bn 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 club statement noted that the sale is expected to complete in late May subject to all necessary regulatory approvals. “More details will be provided at that time,” Chelsea said.

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