Sports
Chelsea Confirm American, Todd Boehly As New Owner
By GWG Football Editor
Chelsea Football Club on Saturday morning confirmed American philanthropist and businessman, Todd Boehly as the new owner of the club following the exit of Russian oligarch, Roman Abramovich.
The club in a statement, however, said that all issues about transfer would be completed by the end of May subject to regulatory approvals.
GreenWhiteGreen GWG reports that Abramovich was forced to give up his ownership of the club following impending actions by the United Kingdom government against perceived associates of the Russian government. The UK is in the lead among some other western governments in chiding Russia’s invasion of Ukraine.
A statement early on Saturday morning by by the Chelsea on its website confirming Todd Boehly as its new owner, read thus:
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.
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% to charitable causes as confirmed by Roman Abramovich. UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.
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.
The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.
The incoming Chelsea owner, is Todd Boehly is also a patron of the media, being the chairman of the Hollywood Foreign Press Association.
He is the co-founder, chairman, chief executive officer and controlling member of Eldridge Industries, a holding company headquartered in Greenwich, Connecticut.
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