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Chelsea: Todd Boehly consortium signs agreement to take over


Chelsea: Todd Boehly

Chelsea has announced that the consortium led by Todd Boehly has signed an agreement to purchase the club from Roman Abramovich. The deal has to be approved by the Premier League as well as the UK Government before it can be completed. Chelsea expects the takeover to be completed by the end of May. Boehly is a part-owner of LA Dodgers.

“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 percent to charitable causes as confirmed by Roman Abramovich,” Chelsea announced that the consortium led by Todd Boehly has signed an agreement. “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.”

“Firstly, Mr. Abramovich’s intentions in relation to gifting the proceeds from the Chelsea sale to charity have not changed,” a spokesperson for Abramovich said. “Since the initial announcement, Mr. Abramovich’s team has identified senior representatives from UN bodies and large global charitable organizations who have been tasked with forming a Foundation and setting out a plan for its activities. The lead independent expert has had conversations with Government representatives presenting the structure and initial plans.”

“Mr. Abramovich has not been involved in this work and it has been managed independently by experts with years of experience working in humanitarian organizations,” he added. “Secondly, Mr. Abramovich has not asked for any loan to be repaid to him – such suggestions are entirely false – as are suggestions that Mr. Abramovich increased the price of the Club last minute.”

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