Boehly ‘close to Chelsea takeover with Ratcliffe’s bid NOT being considered’

AMERICAN billionaire Todd Boehly and his consortium have signed an agreement to buy Chelsea from Roman Abramovich.

Boehly, who part-owns the LA Dodgers, is poised to run the London side despite a last-gasp £4billion offer from Sir Jim Ratcliffe.

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Boehly and his team, which includes billionaires Mark Walter, Hansjorg Wyss and investment firm Clearlake Capital, still face two more hurdles before they officially take charge.

He was pictured at Stamford Bridge on Friday and will now be put forward for Government and Premier League approval.

It is expected the league will approve the takeover, but only after the completion of an owners’ and directors’ test.

Boehly is on course to complete his takeover by the end of this month, as just over three weeks remain on the club’s current operating licence, which expires on May 31.

The consortium has been advised by Goldman Sachs and Robey Warshaw, where former chancellor and Chelsea fan, George Osborne, works as a partner.

In a statement Chelsea said the deal is “expected to complete in late May subject to all necessary regulatory approvals”.

The Blues confirmed the consortium’s sum of £2.5bn will be deposited into a frozen UK bank account with the intention to donate it to charitable causes as confirmed by Abramovich. 

Government approval will be required for the proceeds to be transferred from the account.