Chelsea confirm the sale of the club to Todd Boehly

Chelsea confirmed on Saturday that they have reached a definitive agreement to sell the club to the Todd Boehly/Clearlake consortium and expect the transaction to be completed on Monday.

NewsEditor
NewsEditor
28 May 2022 Saturday 02:51
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Chelsea confirm the sale of the club to Todd Boehly

Chelsea confirmed on Saturday that they have reached a definitive agreement to sell the club to the Todd Boehly/Clearlake consortium and expect the transaction to be completed on Monday.

The entity issued a statement in which it corroborates that it has reached a definitive agreement with the American tycoon Boehly, part of the Clearlake Capital consortium, who will take control of the entity, until now in the hands of the Russian Roman Abramovich, for an agreement record figured at 4,250 million pounds (4,999 million euros).

"Chelsea confirms the agreement to sell the club to the Todd Boehly/Clearlake Capital consortium and the transaction is expected to be completed on Monday," the London club said in a statement posted on its website.

The entity specifies that of the total investment made, 2,500 million pounds (2,940 million euros) will be applied to the acquisition of shares in the club.

It also adds that the profits will be deposited in a frozen British bank account with the intention of donating one hundred percent to charitable causes, as confirmed by Abramovich, affected by the sanctions of the London Executive for his relationship with Russian President Vladimir Putin.

The note indicates that the approval of the British Government will be needed for those winnings to be transferred from that account.

In addition, the new owners will commit 1,750 million pounds (2,000 million euros) to new investments for the benefit of the club, such as the Stamford Bridge stadium, the Academy or the women's team.

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