Chelsea FC announce a group led by Todd Boehly to buy the club

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Boehly has interests in the Los Angeles Dodgers of MLB, the Los Angeles Lakers of the NBA and the Los Angeles Sparks of the WNBA.

Chelsea said the sale to a consortium led by Boehly and backed by Clearlake Capital is expected to be finalized later this month, “subject to all necessary regulatory approvals”.

Abramovich put the club up for sale in early March following the Russian invasion of Ukraine, saying at the time it was “in the best interests of the club”.

On Friday, the club said that of the total investment made, 2.5 billion pounds ($3.08 billion) will be used to buy the club’s shares and this money will be deposited in a frozen UK bank account “with the intention to donate 100% to charitable causes as confirmed by Roman Abramovich.”

UK government approval would be required for proceeds to be transferred from the frozen UK bank account, the club added.

He said the proposed new owners would also “commit £1.75bn ($2.16bn) in additional investment to benefit the club”. This would include investment in the club’s Stamford Bridge stadium, academy, women’s team and funding for the Chelsea Foundation charity.

The announcement of the Boehly deal comes with just over three weeks remaining on the club’s current operating license, which expires on May 31.

Among those who have already expressed interest in the club are British billionaire Jim Ratcliffe and groups led by Boston Celtics co-owner Stephen Pagliuca and former British Airways chairman Martin Broughton, as well as a consortium led by the owners of the Chicago Cubs, the Rickets family.

Reuters contributed to this report.

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