Roman Abramovich announced Chelsea was up for sale on March 2; LA Dodgers part-owner beat competition from Sir Jim Ratcliffe, who bid £4.25bn, and two other consortiums to win the battle for Chelsea; UK Government needs to issue new license so takeover can go through.
Chelsea Football Club, in a statement, confirmed that the terms have been agreed upon for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter, and Hansjoerg Wyss, to acquire the Club.
The proposed deal, announced by the club in a statement in the early hours of Saturday morning, has to be approved by the UK Government and the Premier League before it can be completed.
In a club statement, Chelsea F.C noted that;
“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.
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 sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.”