Premier-league News

Chelsea confirm agreement to sell club to Todd Boehlys consortium to be completed on Monday

Football 365

Chelsea have confirmed that an agreement is in place for the club to be sold to Todd Boehly’s consortium and the takeover will be completed on Monday.

Boehly is the leader of the Clearlake Capital consortium. He is set to buy the Premier League club for £4.25bn.

The US businessman is poised to complete his takeover in the next 48 hours.

Chelsea: What they need this summer, and how likely they are to get it

A short statement on Chelsea’s website said: “Chelsea confirm the agreement to sell the club to the Todd Boehly/Clearlake Capital consortium with the transaction expected to be completed on Monday.”

Abramovich put the club up for sale on March 2, amid Russia’s continued invasion of Ukraine.

The 55-year-old was then sanctioned by the UK Government on March 10, with Downing Street claiming to have proven his links to Vladimir Putin.

The Russian-Israeli billionaire has owned Chelsea for 19 years, leading the Blues to 21 trophies and changing the face of English football forever in that time.

Chelsea’s sale has required UK Government, European Union and Portuguese Government approval due to the sanctions imposed on Abramovich.

The proceeds of Chelsea’s sale – expected to be £2.5b – will be frozen in a UK bank account on completion of the sale.

The UK Government will then need to issue a further licence to allow those funds to be diverted to a new charitable foundation, to aid victims of the war in Ukraine.

The news was welcomed by Chelsea Supporters’ Trust, who have held positive talks with Boehly in recent weeks.

The fans group said in a statement: “The Chelsea Supporters’ Trust would like to congratulate the consortium led by Todd Boehly on the takeov…

What's your reaction?

Related Posts

Load More Posts Loading...No More Posts.
Leave Comment