Chelsea confirm new ownership group as Todd Boehly signs purchase deal

On the club’s official website an official statement said that a “new ownership group” led by Todd Boehly would acquire the club.

The statement added that £2.5billion will be invested to purchase the shares in the club, with proceeds going to charity and £1.75 billion for the “benefit” of the club.

They 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 percent 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.” 

According to The Wall Street Journal, Mr Boehly’s group, who is the part owner of Los Angeles Dodgers, has acquired the club for £4 billion, making it a record sale for a professional sports team.

The Boehly led group acquired the club from the Russian billionaire Roman Abramovich who bought Chelsea in 2003.

Mr Abramovich was forced to relinquish his ownership of the club following the sanctions imposed by the British Government following the Russian invasion of Ukraine. 

However, Mr Boehly and his takeover group still need the approval of the British Government and the Premier League.

According to The Telegraph, it is likely that the Premier League will approve the takeover following the completion of a owners’ and directors’ test.

But the Government may first need to issue a licence for the sale of Chelsea.

With only three weeks remaining on the London club’s current operating licence, Mr Boehly is on course to complete his takeover later this month.

Although the deal is not yet complete, the signing of the purchase agreement is the most significant step so far.

It is the commitment that transfers the shares of the buyer with a date when the deal must go through.

Mr Boehly’s group put pen to paper on Friday after being confirmed as Chelsea’s preferred bidder and agreeing to a series of “anti-Glazer” clauses.

Named after the unpopular Manchester United owners, they are thought to prevent Mr Boehly’s group from paying dividends or management fees until 2032.

It is also thought that they will prohibit the sale of shares in the club for a decade and place strict debt limits.

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