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UPDATE: Era of Roman Abramovich Comes To An End As Todd Boehly Takeover Chelsea

Chelsea, an English Premier League team, has unveiled its new ownership group.

Todd Boehly will be leading a group of four in the acquisition of the English club, according to an official announcement seen by Anaedoonline.ng on the club’s website on Saturday morning.

Clearlake Capital, Mark Walter, and Hansjoerg Wyss were among the club’s new owners, led by Boehly.

According to the official paperwork, a £3.5 billion takeover payment was made to replace Roman Abramovich.

 

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The Raine Group, the US bank in charge of the sale, has identified his group as the preferred bidder for Chelsea.

Chelsea’s statement read in part: “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.

“The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.”

“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% 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.”

 

The statement revealed further that 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.

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The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time, Anaedoonline.ng understands.

 

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