Chelsea FC announce a group led by Todd Boehly to buy the club

Boehly has interests in the Los Angeles Dodgers of MLB, the Los Angeles Lakers of the NBA and the Los Angeles Sparks of the WNBA.

Chelsea said the sale is expected to close later this month, “subject to all necessary regulatory approvals”.

A press release on Chelsea’s website reads: “Of the total investment made, £2.5 billion ($3.08 billion) will be applied to buy the shares of the club and this proceeds will be deposited into a frozen UK bank account with the intention of donating 100% to charitable causes as confirmed by Roman Abramovich UK government approval will be required for proceeds to be transferred from the frozen UK bank account.

“In addition, the proposed new owners will commit £1.75 billion ($2.16 billion) in additional investment to benefit the club. This includes investment in Stamford Bridge, the Academy, the women’s team and Kingsmeadow and continued funding for the Chelsea Foundation.”


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