Chelsea confirm definitive agreement with Todd Boehly consortium to sell club | Soccer

The club say the deal is expected to be finalized on Monday.

A statement on Saturday morning said: “Chelsea Football Club can confirm that a final and definitive agreement was reached last night to sell the club to the Todd Boehly/Clearlake Capital consortium.

‘The transaction is expected to close on Monday. The club will provide further updates at this time.’

The completion of the deal will spell the end of ownership for Roman Abramovich, who bought Chelsea for £140million in 2003.

The Russian oligarch has been sanctioned by the UK government over alleged links to Russian President Vladimir Putin.

After the £4.25 billion takeover was approved by the UK government and the Premier League earlier this week, the Todd Boehly/Clearlake Capital consortium will finally take the reins after a drawn-out sale process.

“Following the sanctioning of Roman Abramovich, the Government has worked hard to ensure Chelsea Football Club can continue to play football.

“But it was always clear to us that the long-term future of the club could only be secured under a new owner. After extensive work, we are now satisfied that all proceeds from the sale will not benefit Roman Abramovich or any other sanctioned person.

“We will now begin the process to ensure that the proceeds from the sale go to humanitarian causes in Ukraine to support victims of the war.

“Today’s steps will secure the future of this important cultural asset and protect fans and the football community at large. We have held discussions with relevant international partners regarding the required licenses required and thank them for all their cooperation.’

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