On the official website, Chelsea confirmed new owners, terms have been agreed for a group of new owners, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss (Hansjörg Wyss).
Of the total amount being invested, £2.5 billion will be spent to buy shares of Chelsea. The proceeds will be deposited into a frozen UK bank account. This money will be donated 100% to charity activities as billionaire Roman Abramovich, the former owner of Chelsea has announced.
In addition, the new owners pledged to invest an additional £1.75 billion in Chelsea. This includes investments in Stamford Bridge, the Youth Academy, the women’s soccer team, Kingsmeadow School and continued sponsorship of the Chelsea Charitable Foundation.
The Chelsea deal is expected to be completed at the end of May, the necessary regulations need to be accepted by the English Premier League. All parties must be inspected by owners and directors. Finally, the deal must be approved by the UK government, after Abramovich and his assets, including the club, were placed on the UK’s sanctions list.
Who is Todd Boehly? Chelsea confirmed new owners
Todd Boehly is currently the President and CEO of Eldridge Industries, a private investment company, located in East Coast of the US. He is of German origin, his grandparents immigrated to America.
Todd Boehly is known as a sports magnate in the US when he owns a large number of shares in big teams such as the Los Angeles Lakers (basketball) and Los Angeles Dodgers (baseball). Besides, he is also the owner of the Los Angeles Sparks women’s basketball team. He is very active in charity.
Timeline of Abramovich selling Chelsea
- February 24: President Vladimir Putin launches a special military operation.
- February 25: Chris Bryant (a British politician) petitions the UK Government to remove Roman Abramovich’s ownership of Chelsea and seize the billionaire’s assets, citing concerns about allegations related to corruption.
- February 26: Abramovich announces the handover of “management and care” of Chelsea to the Chelsea Foundation. However, Foundation members expressed concern about whether UK Charity Commission rules would allow them to run the club.
- February 28: Abramovich is asked by President Zelensky for financial assistance in order to reach a “peaceful solution” with Russia.
- March 1: The UK Charity Commission says it is “seeking information” after Chelsea was placed under the control of the Chelsea Foundation.
- March 2: Swiss billionaire Hansjörg Wyss said he was offered to buy Chelsea by Abramovich.
- March 3: Abramovich announces the sale of Chelsea for £3 billion.
- March 10: Abramovich is sanctioned by the UK government and the sale of the Chelsea is suspended indefinitely. In addition, the government issued a special license so that Chelsea could operate in moderation, restricting ticket sales and advertising.
- March 11: The UK telecommunications company Three decides to suspend its £40 million-a-year shirt sponsorship deal with Chelsea.
- March 18: Deadline to apply to buy Chelsea. There are more than 20 offers made.
- March 25: Those who want to buy Chelsea have only 2 groups left:
- Former congressman Sebastian Coe teamed up with former Liverpool chairman Martin Broughton along with US billionaires Josh Harris and David Blitzer (who own the Philadelphia 76ers basketball team).
- The investment group is led by billionaire Todd Boehly (Chairman and CEO of Eldridge Industries, shareholder in LA Lakers (basketball) and LA Dodgers (baseball). The investment group also includes Clearlake Capital, Mark Walter and Hansjoerg Wyss.
- May 7th: Chelsea confirms it has reached an agreement with billionaire Todd Boehly’s investment group, with a deal value of £2.5 billion.
