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Chelsea are expected to have new owners in place by the end of the month after the Premier League club said that terms have been agreed with the consortium led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss.
LONDON: Chelsea will be sold to a consortium fronted by Los Angeles Dodgers part-owner Todd Boehly, ending 19 years of ownership and lavish investment by Roman Abramovich until the Russian oligarch was sanctioned and forced to offload the Premier League club over the war in Ukraine.The sale price of 2.5 billion pounds ($3.1 billion) for the reigning FIFA Club World Cup winners and 2021 European champions is the most lucrative-ever for a sports team worldwide but Abramovich cannot receive the proceeds, which he hopes will go to a foundation for the victims of the war. A further 1.75 billion pounds ($2.2 billion) has been committed to invest in Chelsea’s teams and stadiums after two months of rapid negotiations to sell the west London club since Russia invaded Ukraine.After several rival bids were rejected, Chelsea said Saturday that buyout terms had been agreed with a consortium that features Boehly along with Dodgers principal owner Mark Walter, Swiss billionaire Hansjorg Wyss and funding from private equity firm Clearlake Capital.The Premier League must approve them as the new ownership and the government has to sign off under the terms of the license that allows Chelsea to continue operating as a business through May 31 while being one of Abramovich’s frozen assets.Abramovich has said he would write off loans of more than 1.5 billion pounds ($1.9 billion) to Chelsea but that has been complicated by the sanctions put in place by the British government as part of a crackdown on wealthy Russians with ties to President Vladimir Putin.
"The sale is expected to complete in late May subject to all necessary regulatory approvals," the football club said in a statement late Friday.
Ihor Zhdanov, Information Defence Project, Open Policy Foundation
Brussels's proposal for a gradual EU-wide ban on Russian oil imports is sowing division, with Hungarian Prime Minister Viktor Orbán comparing the embargo to an economic "atomic bomb".
The row over Wimbledon's decision to ban Russian and Belarusian players continues to rumble on with a number of stars speaking out on the issue. Last month, the All England Tennis Club confirmed the measure amid the harrowing situation in Ukraine, with thousands of civilians dead and more than 11 million having fled the country since the Russian invasion began on February 24.
