Chelsea CONFIRM sale to Todd Boehly with deal set to be completed on Monday

CHELSEA have struck a “definitive agreement” to sell the club to Todd Boehly’s Clearlake Capital consortium.

And in a statement, the club revealed the takeover could be completed by MONDAY.

Chelsea have struck a ‘definitive agreement’ to sell the club to Todd Boehly

It read: “Chelsea Football Club can confirm that a final and definitive agreement was entered into last night to sell the Club to the Todd Boehly/Clearlake Capital consortium.

“It is expected that the transaction will be completed on Monday. The Club will update further at that time.”

The deal moved a step closer on Wednesday when the UK Government officially approved Boehly’s £4.25bn takeover of Chelsea.

And the Government are now assured that none of the proceeds from selling the club will go to sanctioned ex-owner Roman Abramovich.

Los Angeles Dodgers co-owner Boehly, 46, had already PASSED the Premier League’s owner and directors test.

A Premier League spokesman said: “The Board has applied the Premier League’s Owners’ and Directors’ Test (OADT) to all prospective Directors, and undertaken the necessary due diligence.

“The members of the Consortium purchasing the club are affiliates of the Clearlake Capital Group, L.P., Todd Boehly, Hansjorg Wyss and Mark Walter.

“Chelsea FC will now work with the relevant Governments to secure the necessary licences to complete the takeover.”

The Prem statement added: “The purchase remains subject to the Government issuing the required sale licence and the satisfactory completion of the final stages of the transaction.”

This was given the green light by Downing Street last week

The takeover must go through by May 31 in order for Chelsea to be forwarded by the FA to take place in next season’s Champions League.

It will officially end Abramovich’s reign at the club, which saw Chelsea win two Champions League trophies with five league titles.

The Russian was left to sell the club in the wake of strict financial sanctions on him from the UK government.

The UK government froze all of Abramovich’s assets, including Chelsea, due to his ties with Russian president Vladimir Putin.

As a result, Boehly beat off consortiums led by Stephen Pagliuca and Sir Martin Broughton and even a late £4.25bn bid from Britain’s richest man, Sir Jim Ratcliffe.

Boehly’s group revealed that a total of £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”.

And the other £1.75bn will be spent on “further investment for the benefit of the club”.

That includes the Stamford Bridge stadium, academy setup, women’s team and the continued funding of the Chelsea foundation.


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