“The Premier League Board has at this time accepted the proposed takeover of Chelsea Soccer Membership by the Todd Boehly/Clearlake Consortium,” the league mentioned in a press release.
“Chelsea FC will now work with the related Governments to safe the required licences to finish the takeover.”
The membership’s present proprietor is Russian oligarch Roman Abramovich, who’s topic to sanctions by the British authorities and has seen his property frozen.
Abramovich put the membership up on the market in early March following the Russian invasion of Ukraine, saying on the time it was “in the very best curiosity of the Membership.”
Boehly owns stakes within the MLB’s Los Angeles Dodgers, the NBA’s Los Angeles Lakers and the WNBA’s Los Angeles Sparks.
The Premier League assertion famous Boehly had handed the board’s “Premier League’s Homeowners’ and Administrators’ Check (OADT).”
The membership mentioned that of the overall funding being made, 2.5 billion kilos ($3.08 billion) will probably be used to purchase the shares within the membership and this cash could be deposited right into a frozen UK checking account “with the intention to donate 100% to charitable causes as confirmed by Roman Abramovich.”
UK authorities approval could be required for the proceeds to be transferred from the frozen UK checking account, the membership added.
It mentioned the proposed new homeowners would additionally “commit 1.75 billion kilos ($2.16 billion) in additional funding for the good thing about the membership”. This would come with investments within the membership’s stadium Stamford Bridge, its academy, the ladies’s staff and funding for the Chelsea Basis charity.
The announcement of the Boehly deal got here simply over three weeks remaining on the membership’s present working licence, which expires on Might 31.
Andrew Raine contributed to reporting.
