United Kingdom

Chelsea approve 4 4.25 billion management of Todd Boell’s management to be completed next week | UK news

Chelsea Football Club has confirmed that its multi-billion pound purchase will be completed on Monday.

The English Premier League club is being sold to a consortium led by Todd Boel, owner of Los Angeles Dodgers, and backed by Clearlake Capital.

The club’s announcement on Saturday says: “Chelsea Football Club can confirm that a final agreement was reached last night to sell the club to the Todd Boehly / Clearlake Capital consortium.

“The deal is expected to be completed on Monday. The club will be further updated then. “

After Chelsea went public on March 2, the Boehly-led bid secured a 25 4.25 billion deal after a two-month process largely funded by US-based private equity firm Clearlake Capital.

The sale that took place Approved by the UK Government earlier this weeklower the curtain Roman Abramovich19-year tenure as owner of Chelsea.

A government statement said it had “reached a point where we could issue a license to sell the club”.

“We are pleased that the proceeds from the sale will not benefit Roman Abramovich or other sanctioned individuals,” said Culture Secretary Nadine Doris.

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Roman Abramovich is the former owner of “Chelsea”

It came after the Premier League board approved the proposed purchase on Tuesday.

He was the former owner of Chelsea authorized by the Government of the United Kingdom March 10, days after the club went on sale, when Downing Street claimed to have proven its ties to Russian President Vladimir Putin.

Mr. Abramovich said that the net income from the sale of the club will be given to the victims of the Ukrainian war.

The deal to sell the football club was delayed as the government guaranteed that Mr Abramovich would not make a profit from the forced sale of the club.

He և his advisers signed a deal with a commitment of 4.25 billion pounds this month with a group, mostly funded by California-based investment firm Clearlake Capital, led by Mr. Boely.

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Chelsea fans react to the new owners

The club was subject to a strict government license, and all other assets of Mr. Abramovich were frozen in the UK.

Under the terms of the sanctions, “Chelsea” was not able to make any transfers, neither with the existing players, nor with external targets, but when the control is over, the team will be able to work as usual.

Meanwhile, Sky News recently revealed that: Terms of capture: will prevent Mr. Boelև from paying dividends or managing fees to his fellow investors for a decade.

New owners will also be barred from selling the club’s shares for 10 years, as well as agreeing to severely limit the amount of debt they can borrow.

Chelsea approve 4 4.25 billion management of Todd Boell’s management to be completed next week | UK news

Source Chelsea approve 4 4.25 billion management of Todd Boell’s management to be completed next week | UK news

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