BREAKING – Todd Boehly signs agreement to buy Chelsea and end Roman Abrahimovich ownership in £4billion deal
Todd Boehly and his consortium have won the bid to buy Chelsea in a deal that could be worth up to £4billion.
According to The Daily Telegraph, a consortium led by the LA Dodgers co-owner has inked a purchase agreement to buy the Premier League club, ending Roman Abramovich’s 19-year ownership.
The Premier League and the UK government must yet approve the transaction.
Boehly is on track to complete the transaction before the end of the month, with Chelsea’s current operating license set to expire on May 31.
Despite late interest from British billionaire Sir Jim Ratcliffe, the company won the contest to become the preferred bidder last Friday.
Hansjorg Wyss, Mark Walker, and Jonathan Goldstein are also members of Boehly’s consortium.
This week, Chelsea released a statement on behalf of Abramovich saying the Russian has not reneged on his promise to write off the £1.6billion in loans he has given to the club.
Abramovich listed Chelsea for sale on March 2 in the midst of Russia’s ongoing invasion of Ukraine.
On March 10, the UK Government sanctioned the 55-year-old, claiming to have established links between the Russian-Israeli millionaire and Vladimir Putin.
Abramovich has controlled Chelsea for 19 years, during which time he has led the club to 21 titles.