Chelsea has agreed on terms to sell the club to a consortium led by Todd Boehly, the co-owner of the LA Dodgers baseball team in a £4.25 billion ($5.2 billion) deal
The £4.25bn deal will require approval from the English football authorities and the UK government.
“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,” the statement said.
“The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.”
Chelsea said 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.
The statement confirmed all proceeds would be placed in a frozen UK bank account and Russian owner Roman Abramovich, who is currently subject to sanctions by the British government, would donate all of the proceeds to charitable causes.
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