OFFICIAL: Todd Boehly confirmed as Chelsea's new owner

Chelsea have confirmed that terms have been agreed for the consortium led by American businessman 

Todd Boehly to become their new owner.

They stated in a statement: “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.

“Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100% to charitable causes as confirmed by Roman Abramovich. UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.

“In addition, 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. More details will be provided at that time.”

The takeover should be fully completed before June, meaning Boehly will be able to fund Chelsea’s summer transfers in his first transfer window. This also means the Roman Abramovich era at Stamford Bridge is over after 19 years.

Source: Chelseafc.com