Chelsea confirm sale to Boehly, Clearlake

Chelsea confirm sale to Boehly, Clearlake

In this file photo taken on September 13, 2011 A general view of Stamford bridge is pictured before the start of the UEFA Champions League Group E football match between Chelsea and Bayer Leverkusen at Stamford Bridge in London. Chelsea owner Roman Abramovich on March 2, 2022, confirmed he will sell the Premier League club amid Russia's invasion of Ukraine. Russian billionaire Abramovich has decided it is in the "best interest" of the Champions League holders if he parts ways with the club he has transformed since his purchase in 2003.
Ian KINGTON / AFP

Agency Report

Chelsea said on Saturday that the sale of the Premier League club to a consortium led by Todd Boehly, the co-owner of baseball's Los Angeles Dodgers, is expected to be completed by Monday.

The British government and the Premier League have approved the £4.25 billion ($5.3 billion) takeover.

Chelsea were put on the market in early March, days before owner Roman Abramovich was sanctioned by the British government following Russia's invasion of Ukraine.

The British government describes Abramovich as part of Russian President Vladimir Putin's inner circle. Abramovich is also the target of European Union sanctions.

"Chelsea Football Club can confirm that a final and definitive agreement was entered into last night to sell the club to the Todd Boehly/Clearlake Capital consortium," the club said in a statement.

"It is expected that the transaction will be completed on Monday."

The consortium is led by Boehly, but California-based private equity firm Clearlake Capital would own a majority of the shares in the club.

Other investors include US billionaire Mark Walter, who is Boehly's co-owner at the Dodgers, and Swiss billionaire Hansjorg Wyss.

The Portuguese government has also ratified the sale. Portugal's approval was required because Abramovich holds a passport for the European nation.

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