Adedapo Adesanya
By Adedapo Adesanya
Chelsea Football Club has announced that terms have been agreed for a new ownership group led by an American investor, Mr Todd Boehly as well as Clearlake Capital, Mark Walter and Hansjörg Wyss, to acquire the club for £4.25 billion.
In a statement, the London club confirmed that the purchase price of the club is £2.5 billion, with an additional £1.75 billion committed to further investments in the team.
This includes both stadiums (Stamford Bridge and Kingsmeadow), the Academy, the Women’s Team, and continued funding for the Chelsea Foundation.
The group headed by the part-owner of the American baseball team, the LA Dodgers which includes backing from Clearlake Capital, a US investment firm – beat off late competition from £4.25 billion bidder Sir Jim Ratcliffe and other consortiums led by Stephen Pagliuca and Sir Martin Broughton.
The £2.5 billion 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”, pending government approval of how to handle said frozen funds in the wake of sanctions following the invasion of Ukraine by Russia.
As reported this week, the club have also confirmed that the transaction will be completed in about two weeks “in late May”, subject to Premier League and Government approvals and licencing.
The acquisition confirms the end of the 18 years reign of Russian billionaire Roman Abramovich’s era during which the club won 21 trophies, including two UEFA Champions Leagues.
The sale is expected to complete in late May subject to all necessary regulatory approvals.
The Premier League is meeting on June 8 to constitute the new season, by which time Chelsea would need to have a licence to be part of the next campaign.
