Chelsea have confirmed that the consortium of Todd Boelli has agreed to the terms of the purchase of the Stamford Bridge club from Roman Abramovich in a deal worth 4.25 billion pounds.
Los Angeles co-owner Dodgers Boelli won the race to buy the Blues amid the most public takeover of a major sports franchise in history.
Boehly, Clearlake Capital, Mark Walter and Hansjorg Wyss now have to wait for the approval of the Premier League and the UK government before stamping out the takeover.
“Chelsea Football Club can confirm that conditions have been agreed to acquire the club for a new group of owners, led by Todd Boelli, Clearlake Capital, Mark Walter and Hansorg Vis,” a statement from Chelsea said.
“Of the total investment being made, £ 2.5 billion will be spent on the club’s shares and the proceeds will be deposited in a frozen bank account in the UK with the intention of donating 100 per cent to charities, as confirmed. by Roman Abramovich. .
“Approval from the UK government will be required to transfer the proceeds from the frozen bank account in the UK.
“In addition, the proposed new owners will invest £ 1.75 billion in additional investment for the club.
“This includes investments in Stamford Bridge, the academy, the women’s team and Kingsmeadow and ongoing funding for the Chelsea Foundation.
“The sale is expected to be completed by the end of May, subject to all necessary regulatory approvals. More details will be provided at that time. “
Eldridge Industries CEO Boelli was in London on Friday night and is expected to attend Chelsea’s Premier League clash with the Wolves at Stamford Bridge on Saturday.
The Boehly consortium is believed to have agreed to clauses blocking the payment of dividends or management fees until 2032, while also banning the sale of any Chelsea shares for 10 years.
The signed purchase agreement represents a major step forward in Chelsea’s takeover, which has been moving rapidly since March 2, when Abramovich released the club for sale amid Russia’s ongoing invasion of Ukraine.
Abramovich was then sanctioned by the UK government on March 10, with Downing Street claiming to have proven ties to Russian leader Vladimir Putin.
Russian-Israeli billionaire Abramovich has owned Chelsea since 2003, directing the club to 21 trophies in his 19 years at the helm of Stamford Bridge.
The 55-year-old was believed to have seen the completion of pure global trophies with the Club World Cup title in February as the end of an era.
Graffiti near Stamford Bridge shows the strength of the feeling surrounding the sale of Chelsea (Yui Mok / PA)
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Abramovich insisted on Thursday that he still wanted to write off Chelsea’s £ 1.5 billion debt to him when the sale of the club ended.
However, this loan cannot be written off under Abramovich’s sanctions and is expected to be frozen at the end of the sale.
The club must be sold by the May 31 deadline, when the government’s temporary license for Chelsea expires.
Chelsea’s current license does not allow the club to sign new contracts with existing players or attract new employees.
Abramovich continues to hope that his plan to donate all proceeds from the sale of a new charity can still materialize.
The government is expected to ensure that the proceeds from the sale benefit the victims of the war in Ukraine, with Abramovich hoping independent directors can run a new foundation.
Chelsea manager Thomas Tuchel revealed on Friday that he is “confident” that the “blues” are approaching the sale of the club.
“Last week I was told we had a preferred bidder and things were moving forward,” Tuhel said.
“This is a very important week for the club, but I was completely focused on the field.
“But after what I heard last week, I’m sure.
“Clearing is always the best, because when the situation is clear, you can take action, to judge, to take action.
Thomas Tuchel, pictured, expects Chelsea to be sold soon (Nick Potts / PA)
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“Otherwise, you are in a passive role and that is us at the moment.
“We tried to make it the smallest possible problem, but of course it is always there.
“We prefer to have it in a clear and promising situation.
“We hope that, we know what we are doing, these are the circumstances for improving the team and that we can act instead of reacting, or worse, do nothing.”
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