PARIS OLYMPIC GAMES
Chelsea are expected to have new owners in place by the end of May after the Premier League club said that terms have been agreed with the consortium led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss.
After weeks of uncertainty, some clarity was provided on Friday night with the confirmation that a takeover is imminent, subject to “all necessary regulatory approvals”.
Chelsea said the new owners would pay £2.5 billion ($3.08bn) to purchase shares while committing a further £1.75bn to invest in the stadium, women’s team, the academy and the Chelsea Foundation.
“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,” the statement read.
“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 per cent 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.”
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