Saturday, July 2, 2022

Chelsea Sale Agreed With LA Lakers Owner Todd Boehley In $7.4 Billion Deal

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Chelsea will be sold to a group led by LA Dodgers co-owner Todd Boehly, the club said today.

The deal must first be approved by the Premier League and the British government. It is expected to be completed by the end of this month.

The deal includes £2.5 billion ($A4.36 billion) to buy Roman Abramovich’s shares in the company. For all the people who died in the war in Ukraine, Abramovich has agreed to donate that money to a charity for “all”. The process will be overseen by the British government.

As part of the deal, the new owners have agreed to invest an additional £1.75 billion ($A3.05 billion) in the club. It read: “This includes investments in Stamford Bridge, the Academy, the Women’s Team, Kings Meadow and the Chelsea Foundation.”

Clearlake Capital, an American investment company, will become the majority shareholder of the club. The consortium also includes Swiss billionaire Hansjoerg Wyss and American Mark Walter, who owns the majority stake in the Dodgers and also a stake in the LA Lakers, with Boehly and Walter.

British billionaire Sir Jim Ratcliffe and a number of other groups tried to buy the company at the last minute. The group defeated them all. Investors such as Lewis Hamilton and Serena Williams were also part of the groups.

Abramovich bought Chelsea in 2003 and then went on to spend a huge amount. He was a big part of the trend of billionaires investing huge sums of money in football clubs.

Abramovich has spent a lot of money on the club, from high transfer fees and wages to a lot of money on the club’s facilities. He was rewarded with spectacular results.

Five Premier League titles and two Champions Leagues were won by the Russian oligarch while he was in charge of the West London club. He also won two FA Cups, two Europa Leagues, two UEFA Super Cups and three League Cups during his time in charge.

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