For the latest from the pitch sign up for our football newsletter
Todd Boehly has been spotted at Stamford Bridge for Chelsea's Premier League clash with Wolves – less than 24 hours after he was confirmed as the club's new owner.
It was confirmed early on Saturday morning that the American businessman – who had been spotted outside the club's ground on Friday night – had put pen to paper on an agreement to purchase the club from Roman Abramovich.
The £4.25bn deal includes a £2.5bn up-front share purchase and an additional £1.75bn which will be used to investment in the club's stadium, squad and academy.
In a statement, the club said: "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.
"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 sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time."
The Blues were put up for sale by Abramovich, sparking a two-month process between a number of interested parties. But Boehly's consortium – which also includes businessman Mark Walter and Hansjoerg Wyss – was named as the preferred bidders last week, despite a last-gasp bid from Sir Jim Ratcliffe.
As a result of Abramovich being slapped with sanctions by the UK government due to the ongoing war in Ukraine, Chelsea have been operating under a special license. But Boehly's takeover – which is expected to be concluded by the end of the month – brings the uncertainty over their long-term future to an end.
- Chelsea FC
- Roman Abramovich
Source: Read Full Article