Chelsea Football Club said it had agreed terms 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 sale is expected to be completed by the end of May, subject to all necessary regulatory approvals. More information will be provided at that time,” the club said in a statement.
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Boehly has teamed up with fellow Dodgers co-owner Mark Walter, British businessman Jonathan Goldstein, Swiss billionaire Hansjörg Wyss and US investment firm Clearlake Capital.
Earlier on Thursday, the Chelsea Supporters Trust (CST) called for a quick and transparent sale to ensure the club’s future.
“It is imperative that the sale of Chelsea is completed expeditiously and transparently,” CST said in a statement.
“We urge the current ownership, the Rhine, and the UK government to ensure this.
“Any delay in this process could put Chelsea’s future at risk – all parties must ensure that the club’s stability and future are secure.”
Under the terms of their licence, Chelsea are currently unable to offer new contracts to existing players or sign players from other clubs.
Abramovich denies calling in loan for sale
Roman Abramovich has denied reports that he is asking for the sale of Chelsea to pay off a £1.5bn ($1.9bn) loan.
The Russian billionaire put the Premier League club up for sale on March 2, insisting he would not call the debt collected during his 19-year reign and that all proceeds from the club’s sale would go to the victims of the war. Ukraine.
Abramovich was then sanctioned by the British government and the European Union for his relationship with Russian President Vladimir Putin, forcing Chelsea to operate under a special license.
That license expires on 31 May, with fears about the club’s future if the sale doesn’t happen before the end of the month.
The Times reported Tuesday that Abramovich was claiming sanctions prevented him from being able to write off that debt.
Other reports suggested that Abramovich had asked bidders to offer an additional £500 million to support the victims of the war.
“Mr Abramovich’s intentions regarding the donation of proceeds from the sale of Chelsea have not changed,” Abramovich’s spokesman said in a statement posted on Chelsea’s website.
“Mr Abramovich has not asked for a loan to repay him – such suggestions are completely false – as are suggestions that Mr Abramovich raised the club’s price at the last minute.
“As part of Mr Abramovich’s objective to find a good mentor for Chelsea FC, he has however encouraged each bidder to invest in the club during this process – including the academy, the women’s team, the necessary redevelopment of the stadium.” as well as maintenance. Chelsea Foundation work.”
The proceeds from the sale will be withheld and “subject to a legal process governed by the authorities”, the statement said.
However, Abramovich aims to move the money towards the newly created charitable foundation.
Around £2.5 billion is expected to go for Chelsea’s world record price for the sports club.
(with inputs from agencies)
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