American Billionaire Becomes New Owner Of Chelsea

Posted by African Examiner Latest Headlines, Sports News, U.S./Canada Saturday, May 7th, 2022

(AFRICAN EXAMINER) – Todd Boehly’s consortium has signed an agreement to buy Chelsea from Roman Abramovich, according to the English club.

This was announced by Chelsea on Saturday after Abramovich put the club for sale in March.

According to available information, the deal is expected to be completed in late May after all necessary regulatory approvals have taken place.

African Examiner recalls that Chelsea were given May 31, 2022 as deadline to get a new owner following the sanction of the Russian owner.

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

I added: “Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds 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.

“In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation.”