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HomeSportAmerican Billionaire Todd Boehly Buys Chelsea Football Club for Over $5 Billion

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American Billionaire Todd Boehly Buys Chelsea Football Club for Over $5 Billion

Todd Boehly news

American billionaire Todd Boehly buys Chelsea Football Club from Russian oligarch Roman Abramovich for 4.25 billion pounds ($5.24 billion), the club said on Saturday.

The club confirmed on its website 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,” the club said, adding that “the proposed new owners will commit £1.75bn in further investment for the benefit of the Club.”

In addition, these investments were said to contribute to the club’s stadium Stamford Bridge, the Academy, the Women’s Team, and the Kingsmeadow stadium.

It has been noted that the sale is expected to complete in late May given that the UK government will approve the transfer from Abramovich’s frozen bank account in the United Kingdom.

Abramovich put the club on sale in early March before the UK government imposed individual sanctions against him due to Moscow’s special military operation in Ukraine.

Since Abramovich bought the club in 2003, Chelsea became the English football champion five times, won the English Football Cup three times, and won UEFA Champions League and UEFA Europa League twice.

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1 COMMENT

  1. This shows how stupid the ordinary Brits have become. Many cant afford to heat their houses in the UK weather. Severe housing crisis and uncontrolled migration, spending tax payer ponds on unwinnable Ukraine conflict, 10inflation for some more years etc are haunting the Brits. As usual the ruling class and upper class are hand in hand without bothering the peasents. The MSM praises the wars and Royal family, and at times hit them to show their power. No wonder there are millions of POMS everywhere outside UK.

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