A group of investors, led by Dodgers owner Todd Boelli, has agreed to buy Chelsea Football Club from sanctioned Russian oligarch Roman Abramovich.
The new group of owners, which includes investment firm Clearlake Capital, another Dodgers co-owner of Mark Walter and Swiss billionaire Hansorg Vis, is buying the London-based Premier League team for 4.25 billion British pounds ($ 5.25 billion), the club said. in Friday.
The deal is expected to be completed by the end of May, “subject to all necessary regulatory approvals,” the team said in a statement.
Abramovich launched the club in early March after Russia’s invasion of Ukraine. The consortium, led by Boehly, an investment banker co-founder of Connecticut-based holding company Eldridge Industries, beat groups including one led by Celtics co-owner and Bain Capital co-chairman Stephen Palyuka and another co-owned by Philadelphia’s David 76 Blitzer.
Chelsea’s new owner Todd Boelli (approx.) Celebrates a goal during a match against Wolverhampton on Saturday. AFP confirmed on Saturday that Getty Images Chelsea have sold the club for £ 4.25 billion. AFP via Getty Images
“Of the total investment that is being made, £ 2.5 billion [about $3 billion] will be used to buy the club’s shares and the proceeds will be deposited in a frozen bank account in the UK with the intention of donating 100% to charitable causes, as confirmed by Roman Abramovich, “said a statement from Chelsea. “… In addition, the proposed new owners will commit £ 1.75 billion [about $2.16 billion] in further investments for the benefit of the club. “
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