Reports over the past few hours have essentially almost confirmed that the consortium, led by Todd Bowley and funded mainly by Clearlake Capital, has won the race for Chelsea Football Club and will be named the “preferred” candidate on Monday when Raine Group is expected to make its official announcement.
The news is moving fast today, after the process seems to have dragged on for the past few weeks, with other bidding groups led by Sir Martin Broughton and Stephen Palyuka dropped out and Sir Jim Ratcliffe’s late publicity stunt turned out to be a small consequence.
The deal is said to be worth “more than £ 3.5 billion”, which will reportedly include at least £ 1 billion to fund the stadium and club, and the rest (up to £ 2.5b) will go for charity. It is not clear what part of this will be a lump sum or how exactly the deal will be structured, although all this is academic at the moment. Much will depend on how the sanctions affect Roman Abramovich and what the UK government will or will not allow.
The necessary approvals from the UK Government and the Premier League are not expected to take too long or be a major obstacle, so we hope to be able to address all of this (at least in terms of our operational capacity) over the next few weeks.
Welcome, Todd & Co. Let’s keep winning all things!
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