cover

JUST IN: Abramovich Out As Chelsea Confirm Sale Of Club To American Billionaire

 

Todd Boehly’s consortium has signed an agreement to purchase Chelsea from Roman Abramovich, the English club have confirmed.

The deal was announced by Chelsea on Saturday after Abramovic put the club for sale in March.

The deal is expected to be completed in late May subject to all necessary regulatory approvals, according to the club.

Chelsea were given May 31, 2022 as deadline to find a new owner for the club, after it sanction the Russian owner.

Abramovich hired the the Raine Group to oversee the sale of the club.

Raine Group have chosen a preferred bidder, headed by the LA Dodgers part-owner – which includes backing from Clearlake Capital, a US investment company .

“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 club said in a statement seen by THE WHISTLER.

The group defeated the £4.25bn bidder Jim Ratcliffe and other consortiums led by Stephen Pagliuca and Martin Broughton to become the new owners.

Chelsea said, “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 per cent to charitable causes as confirmed by Roman Abramovich.

“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.”

 

 

Oluwasegun Adesuyi

Recent Posts

NCDMB Launches ‘Champions of Nigerian Content Award

The Nigerian Content Development Monitoring Board (NCDMB), in partnership with Sweetcrude Limited, publishers of SweetcrudeReports,…

23 hours ago

China’s Baidu releases new AI model to compete with DeepSeek

Chinese internet search giant Baidu released a new artificial intelligence reasoning model Sunday and made…

23 hours ago

NELFUND plans software for students with disabilities

NELFUND new logo By Deborah Tolu-Kolawole The Nigerian Education Loan Fund has said plans are underway…

23 hours ago

Ex-gov Lamido rejects El-Rufai’s call to join SDP

Sule Lamido Former Jigawa State Governor and Peoples Democratic Party chieftain, Sule Lamido, has dismissed…

23 hours ago

Ogun community demands ward delineation

By Taiwo Bankole The Owu community in the Abeokuta North Local Government of Ogun State has…

23 hours ago

Police inspector shoots self dead in Ogun

A Nigeria policeman By Uthman Salami A police inspector, Ajele Oloyede, has reportedly died from a…

23 hours ago