Chelsea reaches definitive agreement for its sale to the consortium led by Boehly

Chelsea reaches definitive agreement for its sale to the consortium led by Boehly

The Chelsea informed on Saturday that it reached a definitive agreement for the sale of the club of the Premier League to a consortium led by the co-owner of the Dodgers of the Angels, Todd Boehleyand backed by Clearlake Capital.

The consortium, which won the offer to acquire the London club at the beginning of May, received this week the approval of the premier league and the British Government for the sale to take place.

“The Chelsea Football Club can confirm that last night a final and definitive operation was reached for the sale of the club to the consortium Todd Boehly/Clearlake Capital“, the club said in a statement. “The transaction is expected to be completed on Monday. The club will give more information at that time.”

Roman Abramovich put the club up for sale in early Marchor after the Russian invasion of Ukraine. The sale also needed the green light from the Portuguese government as the Russian billionaire, who became a national last year, is subject to European Union sanctions.

The Chelsea it has been operating under a special permit issued by the British government, which was set to expire on May 31, since Abramovich’s assets were frozen in March.

The club previously confirmed that Abramovich would donate all proceeds from the sale, which would be deposited into a frozen bank account, to charitable causes.

Abramovich bought the club in 2003 and helped the Chelsea became a dominant force in English football, leading it to win five titles in the premier leaguefive FA Cups and two Champions League trophies during his tenure.

“It has been an honor for me to be part of this club. I would like to thank all the past and current players at the club, the staff and of course the fans for these incredible years,” Abramovich said in a statement.

Completion of the sale will allow the Chelsea renewing transfer activity, as well as allowing players to sign new contracts, something that was prohibited as part of the sanctions imposed.

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