Todd Boehly’s consortium have been confirmed as the new owners of Chelsea, marking an end to the Roman Abramovich era. The Raine Group have chosen the LA Dodgers stakeholder’s group as the preferred bidders, and the first major step of the takeover has now been completed.
The Premier League club have confirmed that the contract related to the purchase licence has been signed. They have also mentioned that further details surrounding the transfer of ownership will be announced as they take place.
Chelsea confirm Todd Boehly as new owner
The club has confirmed that £2.5 billion will be used to purchase the stakes of the club. This money will be deposited in a frozen UK bank account, and will be donated completely to the victims of the conflict between Russia and Ukraine – as confirmed by Roman Abramovich.
As part of the deal, £1.75 billion will be invested into the first team, women’s team, and the academy of the club. Investment in the development of Stamford Bridge to increase its capacity is also a part of the deal and the agenda proposed by Boehly.
The new owners will now have to be approved by the Premier League and the UK government to officially finalise the sale of Chelsea. The procedure is expected to be complete by the end of May, and further details will be revealed at that time.