Spread the news

Chelsea have confirmed that terms have been agreed for Todd Boehly to complete his £4.25billion takeover of the club. This is coming after Boehly’s consortium was named as the preferred bidder to take over at Stamford Bridge by the Raine Group, the American bank who are overseeing the sale. He partnered with fellow Dodgers owner Mark Walter, Swiss billionaire Hansjorg Wyss as well as investment firm Clearlake Capital to purchase the club.  Boehly saw off competition from consortiums fronted by Stephen Pagliuca and Sir Martin Broughton and even a late £4.25bn bid from Britain’s richest man Sir Jim Ratcliffe. Chelsea confirmed on their official website in the early hours of Saturday morning that Boehly and his consortium can purchase the club, following the UK Government’s approval.  The statement read: ‘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. ‘Of the total investment being made, £2.5bn 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 £1.75bn 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 complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.’ Russian billionaire, Roman Abramovich put the club up for sale just before the UK Government sanctioned him in March following Russia’s invasion of Ukraine and his close relationship with Russian president, Vladimir Putin.The post Chelsea confirm American billionaireTodd Boehly has signed an agreement to buy the club from Roman Abramovich in a 4.25bn deal appeared first on Linda Ikeji Blog.

Spread the news
Advertisement

MELODYBIZ 50% DISCOUNT


Have you always desired a smooth online shopping experience. Do you have dreams of putting your goods out on platforms where you can get customers all over Nigeria. Then MelodyBiz Store is the right place for you. We offer competitive prices on goods and services and you can be rest assured to get what you ordered in the stipulated time. Log-on to MelodyBiz and experience a different dynamics of shopping
Previous articleUpdate: Driver pleads guilty over hit-and-run crash that killed Nicki Minaj’s father
Next articleNigerian Paralympian, Ifeanyi Madubuike, banned for three years after failing doping tests

LEAVE A REPLY

Please enter your comment!
Please enter your name here