May 23, 2022


Made By Sports

Chelsea FC announces group led by Todd Boehly to buy the club

Boehly owns stakes in the MLB’s Los Angeles Dodgers, the NBA’s Los Angeles Lakers and the WNBA’s Los Angeles Sparks.

Chelsea suggests the sale to a consortium led by Boehly and backed by Clearlake Funds is expected to entire later this month, “topic to all necessary regulatory approvals.”

Abramovich set the club up for sale in early March subsequent the Russian invasion of Ukraine, indicating at the time it was “in the finest desire of the Club.”

On Friday, the club reported that of the overall investment becoming designed, 2.5 billion pounds ($3.08 billion) will be used to buy the shares in the club and this income would be deposited into a frozen United kingdom financial institution account “with the intention to donate 100% to charitable triggers as confirmed by Roman Abramovich.”

Uk governing administration acceptance would be expected for the proceeds to be transferred from the frozen Uk bank account, the club extra.

It stated the proposed new homeowners would also “dedicate 1.75 billion lbs ($2.16 billion) in further financial investment for the benefit of the club”. This would include things like investments in the club’s stadium Stamford Bridge, its academy, the women’s team and funding for the Chelsea Foundation charity.

The announcement of the Boehly offer comes with just about three weeks remaining on the club’s recent running licence, which expires on May possibly 31.

Between individuals formerly to have expressed an curiosity in the club are British billionaire Jim Ratcliffe and groups led by Boston Celtics co-operator Stephen Pagliuca and former British Airways chairman Martin Broughton, and a consortium led by Chicago Cubs owners the Rickets relatives.

Reuters contributed to this report.

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