Chelsea sale agreed with LA Lakers owner Todd Boehley in Rs 400 billion deal


Chelsea Football Club has confirmed that terms have been agreed on the acquisition of the English Premier League soccer team with a consortium led by Todd Boehley, part owner of the Los Angeles Dodgers and backed by Clearlake Capital.

The Stamford Bridge-based organization in a statement released early on Saturday announced a deal worth ₹5.2 billion (about ₹400 billion) for the defending European champions, subject to obtaining the necessary approvals.

“Chelsea Football Club can confirm that the terms have been agreed for a new ownership group led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjörg Wyse to acquire the club,” The statement said.

“The sale is expected to be completed at the end of May subject to all necessary regulatory approvals. More details will be provided at that time.”

Chelsea said the new owners would pay £2.5bn to buy shares while a further £1.75bn to invest in the stadium, the women’s team, the academy and the Chelsea Foundation.

The statement confirmed that all proceeds would be kept in a frozen UK bank account and that Russian owner Roman Abramovich, currently subject to sanctions by the British government, would donate all proceeds to charitable causes. The announcement comes with more than three weeks remaining on the club’s current operating licence, which expires on 31 May.

Abramovich put the club up for sale in early March following his country’s invasion of Ukraine. He cleared the way for a takeover on Thursday after dismissing reports he wanted 1.5 billion pounds ($1.9 billion) to repay a loan owed to the club.

The Boehly Group, which also includes Swiss billionaire Wyss, were in exclusive talks to buy the club after British billionaire Jim Ratcliffe’s late bid was rejected. Groups led by Boston Celtics co-owner Stephen Pagliuca and former British Airways chairman Martin Broughton were previously dropped from the bidding process, while the Ricketts family, a union led by Chicago Cubs owners, pulled out of the race.

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