Chelsea

Premier League side Chelsea has confirmed that terms have been agreed for American Todd Boehly to complete his £4.25bn takeover of the club. 

Todd Boehly’s consortium has signed an agreement to purchase Chelsea from Roman Abramovich. The proposed deal has to be approved by the UK government and the Premier League before it can be completed.

“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,” a statement from the Blues read.

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 Premier League is meeting on June 8 to constitute the new season, by which time Chelsea would need to have a licence to be part of the next campaign.

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