Chelsea are set to change ownership in the coming weeks - bringing an end to Roman Abramovich’s 19-year reign at Stamford Bridge.
Abramovich put the West London club up for sale after the UK government froze his assets due to his close links with Russian president Vladimir Putin in light of the war in Ukraine.
A number of consortiums entered the running to purchase the Blues - and American billionaire Todd Boehly, who is also co-owner of baseball team LA Dodgers, has won the race, with his reported £4.25billion takeover subject to completion via the Premier League owners’ and directors’ test.
A statement released by Chelsea on Saturday read: “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% 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.”
How will Boehly & Co’s rumoured wealth impact the Premier League owners’ rich list when completed? NewcastleWorld takes a look.
Newcastle United, of course, are 80% owned by the Public Investment Fund of Saudi Arabia, with PCP Partners and RB Sports & Media holding a 10% stake each.