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Chelsea have agreed terms to sell the club to a consortium led by Todd Boehly, the co-owner of the LA Dodgers baseball team. The £4.25bn deal, which will require approval from the English football authorities and the UK government, is expected to be completed in late May. Ad/> The sale can only be signed off once the bidder has passed the Premier League's owners' and directors' test.
"The sale is expected to complete in late May subject to all necessary regulatory approvals," the football club said in a statement late Friday.
Todd Boehly is due to attend Chelsea’s Premier League clash with Wolves on Saturday afternoon, just a matter of hours after agreeing a deal to buy the Blues from Roman Abramovich.
Chelsea supporters have been left bemused by the club's bizarre timing to announce that Todd Boehly has agreed to acquire the club in a proposed £4.25billion deal.
Chelsea FC said a group led by Los Angeles Dodgers co-owner Todd Boehly would acquire the London club after agreeing terms in a deal worth £4.25 billion ($5.2 billion). "The sale is expected to complete in late May subject to all necessary regulatory approvals," the football club said in a statement late Friday.
Football Club has confirmed that terms have been agreed with a consortium led by Los Angeles Dodgers part-owner Todd Boehly and backed by Clearlake Capital over the acquisition of the Premier League football team. The Stamford Bridge-based outfit announced the 4.25 billion pound ($5.2 billion) deal for the reigning European champions in a statement issued in the early hours of Saturday, subject to receiving the required approvals. "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 statement said. "The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time." Chelsea said the new owners would pay 2.5 billion pounds to purchase shares while committing a further 1.75 billion pounds to invest in the stadium, women's team, the academy and the Chelsea Foundation.
A consortium led by Los Angeles Dodgers part-owner Todd Boehly and backed by Clearlake Capital has won the bid to acquire Premier League club Chelsea, the team announced on Friday.