Home Entertainment Todd Boehly Group buys Chelsea football club for $ 5 billion –...

Todd Boehly Group buys Chelsea football club for $ 5 billion – deadline

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The future of the village Chelsea The football club looks confident: today the London club has announced new owners.

After the freezing of the assets of the former owner, a Russian oligarch Roman Abramovichafter his country’s invasion of Ukraine, the club was sold to a consortium led by Todd Boi as part of a deal worth £ 4.25 billion ($ 5.24 billion).

A statement issued today by the club confirmed:

“Terms have been agreed for a new group of owners, led by Todd Boli, Clearlake Capital, Mark Walter and Hansörg Vis, to acquire the club.

“Of the total investment, £ 2.5 billion ($ 3.08 billion) will be used to buy the club’s shares, and such proceeds will be transferred to a frozen UK bank account with the intention of donating 100% to charity, as confirmed by Roman Abramovich . Withdrawal from the UK’s frozen bank account will require the approval of the UK government. “

The club added that as part of the deal, which is expected to be completed by the end of this month, the proposed new owners will provide an additional £ 1.75 billion ($ 2.16 billion) in favor of the Club, which reportedly includes investment in Stamford Bridge, the Academy, the Women’s Team and Kingsmead, and the Chelsea Foundation.

Abramovich owned a high-profile London football team in 2003, since he invested heavily in the club and saw awards in 19 major league trophies, including the 2021 Champions League.

Todd Bolly is the owner of Eldridge Holding, which also owns MRC (which runs a joint venture with its parent company Deadline Penske Media Company) and Dick Clark Productions, the makers of the Golden Globe. He is the owner of the Los Angeles Dodgers, Los Angeles Lakers and Los Angeles Sparks.

https://deadline.com/2022/05/chelsea-soccer-club-sale-5bn-todd-boehly-roman-abramovich-1235018576/

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