Todd Boehly Becomes Chelsea New Owner
Chelsea, an English Premier League team, has unveiled its new ownership group.
Todd Boehly will be heading a group of four in the purchase of the English club, according to an official announcement seen by Naija News on the club’s website on Saturday morning.
Clearlake Capital, Mark Walter, and Hansjoerg Wyss were among the club’s new owners, headed by Boehly.
According to the official document, a £3.5 billion takeover payment was made to replace Roman Abramovich.
The Raine Group, the US bank in charge of the sale, has named his consortium as the preferred bidder for Chelsea.
Chelsea’s statement read in part:
“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 sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.”
“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% to charitable causes as confirmed by Roman Abramovich. UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.”
The potential new owners would also pledge £1.75 billion in further investment for the Club’s benefit, according to the statement.
This includes money for the Chelsea Foundation as well as improvements at Stamford Bridge, the Academy, the Women’s Team, and Kingsmeadow.
The transaction is scheduled to close in late May, pending all regulatory clearances. At that time, further information will be supplied.