Clearlake Capital and the Los Angeles Dodgers part-owner Todd Boehly have agreed to buy Chelsea Football Club in the English Premier League. Chelsea Football Club says the deal has been done.
London-based club Stamford Bridge says it has agreed to buy European champions, Chelsea for 5.2 billion pounds (about 400 billion rupees). The deal is subject to the club getting the necessary permissions.
Chelsea Football Club says that a new ownership group led by Todd Boehly, Clearlake Capital, Mark Walter, and Hansjoerg Wyss has reached a deal to buy the club.
READ MORE: Santi Mina, a Spanish footballer, was sentenced to four years in prison for sexual abuse
“The sale is expected to be done by the end of May if all the necessary regulatory approvals are in place. At that time, more information will be given out.”
People who bought shares in Chelsea said they would pay 2.5 billion pounds to get them, and they would also spend 1.75 billion pounds on the stadium, women’s team, academy, and the Chelsea Foundation.
The statement said that all of the money would be put in a bank account frozen by the British government. Roman Abramovich, the Russian owner of the club, would donate all of the money to charities. There are only a few more weeks until the club’s current operating license runs out on May 31, so this news comes at a good time.
The club was put up for sale by Abramovich in early March after his country took over Ukraine. On Thursday, he set the stage for the takeover by saying he didn’t want the club to pay back a loan he gave them, which was worth 1.5 billion pounds ($1.9 billion).
The Boehly group, including Swiss billionaire Wyss, had the right to buy the club after a late bid from British billionaire Jim Ratcliffe was rejected. The Boehly group had the right to buy the club. Groups led by Boston Celtics co-owner Stephen Pagliuca and former British Airways CEO Martin Broughton were already out of the bidding process. A consortium led by the owners of the Chicago Cubs, the Ricketts family, dropped out of the running.
