Chelsea confirm Todd Boehly consortium has signed £4.25b agreement to buy club

Chelsea have confirmed Todd Boehly’s consortium has agreed terms to buy the Stamford Bridge club from Roman Abramovich in a £4.25billion deal.

Los Angeles Dodgers co-owner Boehly has won the race to buy the Blues amid the most public major sports franchise takeover in history.

Boehly, Clearlake Capital, Mark Walter and Hansjorg Wyss must now wait for Premier League and UK Government approval before rubber-stamping the takeover.

“Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjorg Wyss, to acquire the club,” a Chelsea statement read.

“Of the total investment being made, £2.5billion will be applied to purchase the shares in the club, and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100 per cent to charitable causes as confirmed by Roman Abramovich.

“UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.

“In addition the proposed new owners will commit £1.75billion in further investment for the benefit of the club.

“This includes investments in Stamford Bridge, the academy, the women’s team and Kingsmeadow and continued funding for the Chelsea Foundation.

“The sale is expected to be complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.”

Eldridge Industries chief executive Boehly was in London on Friday night, and is expected to attend Chelsea’s Premier League clash with Wolves at Stamford Bridge on Saturday.

The Boehly consortium is understood to have agreed to clauses that block the payment of dividends or management fees until 2032, also barring the sale of any Chelsea