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Sat 28 May 2022 | 9:32

Chelsea takeover to complete on Monday

The final agreement to take over Chelsea was reached on Friday and it will probably be formalized by Monday.

According to reports, the sale of

Chelsea

to the consortium led by Todd Boehli will be finalized on Monday.

Sky Sports reported that after months of negotiations, the government on Wednesday received a legal guarantee that Roman Abramovich, whose assets were frozen in Britain, would not benefit from the sale. Proceeds from the sale of the club to a bank in the UK will be frozen to ensure that the government can somehow spend the money on humanitarian causes in Ukraine.

Club's statement reads: 

"Chelsea Football Club can confirm that a final and definitive agreement was entered into last night to sell the club to the Todd Boehly/Clearlake Capital consortium.

"It is expected that the transaction will be completed on Monday. The club will update further at that time."

Abramovich, a Russian-Israeli billionaire, bought Chelsea in 2003, but after the Russian invasion of Ukraine, his property in Britain was confiscated due to his closeness to Vladimir Putin. He lost the club after 19 years, and Boehli, who co-owns the Los Angeles Dodgers, will be the main owner of Chelsea. The new owners are said to be planning to spend £1.75 billion on Chelsea, which will increase the total to £4.25 billion.

Goverment's statement said: 

"The steps today will secure the future of this important cultural asset and protect fans and the wider football community. We have been in discussions with relevant international partners for necessary licences required and we thank them for all their cooperation."

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source: SportMob

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