For £2.5 billion
Consortium around US billionaire signs purchase agreement for Chelsea FC
The Premier League and British government still have to approve the sale of Chelsea FC
© Daniel Leal / AFP
Strict financial regulations, ban on new signings: Since the owner of Chelsea FC, the Russian oligarch Roman Abramovich, has been on the EU sanctions list, things have not been easy for the club in the capital. Apparently, a new owner has now been found at Stamford Bridge.
A consortium led by US billionaire Todd Boehly takes over Chelsea. The purchase price for the Premier League club coached by Thomas Tuchel is £2.5 billion, just over $3 billion. This was announced by the English football club on Saturday. The sale is expected to close by the end of May, subject to all necessary regulatory approvals, it said.
Accordingly, the Premier League and the British government must now agree to the sale of the Champions League winner to the American-Swiss group. This is necessary because the assets of the previous club owner Roman Abramovich have been frozen in the course of the Russian war of aggression in Ukraine.
Abramovich wants to donate the entire purchase price
The £2.5bn to buy the club’s shares will be paid into a blocked UK bank account. As announced by Abramovich, the money should be donated “100 percent to charity”, Chelsea said. Abramovich recently denied speculation that he would benefit from the sale of Chelsea. UK Government approval is required for remittance of proceeds.
In addition, the new owners will set aside more than $2.1bn (£1.75bn) for further investments in the club, including Stamford Bridge.
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Because of sanctions against Abramovich: Chelsea are subject to strict conditions
In addition to Boehly and Mark Walter, who are co-owners of the Los Angeles Dodgers baseball club, the consortium also includes the Swiss multi-billionaire Hansjörg Wyss. However, the largest stake in the London club is likely to be held by US investor Clearlake Capital in the future. The British chemical company Ineos and its boss Jim Ratcliffe probably entered the competition too late with a competing offer.
The financiers around Boehly were chosen by the New York commercial bank Raine to enter into so-called preferential talks with the top English club. Due to the sanctions against the Russian oligarch Abramovich, Chelsea are currently not allowed to sign any new players or extend contracts. In addition, strict financial requirements apply to the club.