Author of the article:


LONDON — Chelsea acknowledged on Saturday that a final agreement had been struck to sell the Premier League club to a consortium led by Los Angeles Dodgers fragment-proprietor Todd Boehly and backed by Clearlake Capital.

The takeover is anticipated to be completed on Monday.

The consortium, which obtained the instruct to develop the London facet earlier this month, purchased approval from the Premier League and the British authorities this week for the sale to head forward.

“Chelsea Football Club can verify that a final and definitive agreement used to be entered into final evening to sell the Club to the Todd Boehly/Clearlake Capital consortium,” the club acknowledged in a press launch.

Commercial 2

“It’s a ways anticipated that the transaction will seemingly be completed on Monday. The club will change extra at that time.”

Russian proprietor Roman Abramovich keep the club up on the market in early March following Russia’s invasion of Ukraine, which Moscow calls a “particular defense power operation.”

The sale additionally needed the golf green gentle from the Portugal authorities after Abramovich grew to change precise into a citizen of the country final one year and is below European Union sanctions.

Chelsea had been running below a quite a few license issued by the British authorities since Abramovich’s property had been frozen in March and it used to be keep to hasten out on May perhaps perhaps perhaps also merely 31.

The club previously confirmed Abramovich would donate all proceeds from the sale, which can perchance perchance be positioned in a frozen checking story, to charitable causes.

Commercial 3

“I am proud that because our joint successes, millions of alternative folks will now make a selection pleasure within the recent charitable foundation which is being established,” Abramovich acknowledged in a press launch published on Chelsea’s net pages.

Abramovich supplied the club in 2003 and helped Chelsea change precise into a dominant power in English soccer, main them to 5 Premier League titles, 5 FA Cups and two Champions League trophies one day of his reign.

“My aim has been to present obvious that that the subsequent proprietor has a mindset that would possibly perchance enable success,” Abramovich added. “I am glad this search has now attain to a winning conclusion.

“As I quit Chelsea to its recent custodians, I’d set aside to need them the better of success, each and every on and off the pitch.

“It has been an honor of a lifetime to be a part of this club. I’d set aside to thank the general club’s previous and recent avid gamers, crew, and naturally fans for these inconceivable years.”

The completion of the sale will enable Chelsea to renew switch task to boot to allow avid gamers to signal recent contracts, which used to be prohibited as fragment of the sanctions imposed. (Reporting by Kate Holton in London and Dhruv Munjal and Hritika Sharma in Bengaluru; Editing by Kirsten Donovan and Christian Radnedge)

Top Stories Newsletter logo

Financial Post High Tales

Register to receive the daily prime tales from the Financial Post, a division of Postmedia Network Inc.

By clicking on the join button you consent to receive the above newsletter from Postmedia Network Inc. It’s good to perchance perchance additionally merely unsubscribe any time by clicking on the unsubscribe hyperlink on the bottom of our emails. Postmedia Network Inc. | 365 Bloor Avenue East, Toronto, Ontario, M4W 3L4 | 416-383-2300


Please enter your comment!
Please enter your name here