Chelsea Football Club has announced that terms have been agreed with a new ownership group to acquire the Premier League giants after former owner Roman Abramovich was sanctioned by the U.K. government.
The club made this known in an official statement posted on its website on Saturday. It said that a “new ownership group” led by Todd Boehly would acquire the club.
The statement added that £2.5billion will be invested to purchase the shares in the club, with proceeds going to charity and £1.75 billion for the “benefit” of the club.
They said: “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 percent 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.”
Newsonline Nigeria reports that the Boehly led group acquired the club from the Russian billionaire Roman Abramovich who bought Chelsea in 2003.
Mr Abramovich was forced to relinquish his ownership of the club following the sanctions imposed by the British Government following the Russian invasion of Ukraine.
Bankit Africa, a rapidly growing Pan-African Fintech company, is proud to announce its official launch…
The disclosure was made in NERC’s December 2024 Multi-Year Tariff Order (MYTO) report, published on…
The Inspector-General of Police, Kayode Egbetokun, has issued a stern directive halting the arbitrary arrest, detention,…
The minister said the total projected revenue for 2025 stands at N34.8 trillion out of which…
The Economic and Financial Crimes Commission (EFCC) on Monday re-arraigned Francis Atuche, former Managing Director…
The Nigerian National Petroleum Company Limited (NNPCL) has disclosed that it secured a $1bn loan backed by…