Todd Boehly signs agreement to buy Chelsea and end ownership of Roman Abrahimovich in £4billion deal

Keynote speaker at Milken Conference 2021

The Boehly-led consortium is set to acquire the Blues (Picture: Getty)

Todd Boehly and his consortium have been awarded the contract Chelsea in a deal that could be worth up to £4billion.

The consortium, led by the LA Dodgers co-owner, has signed a deal to buy the Premier League club and end Roman Abramovich’s 19-year ownership, according to The Daily Telegraph.

The deal is yet to be approved by the Premier League and the UK government.

Boehly is on track to close the deal before the end of the month, with Chelsea’s current operating license expiring on May 31.

The group won last Friday’s race for preferred bidder, despite late interest from British billionaire Sir Jim Ratcliffe.

Chelsea vs Sunderland - Premier League

The Abramovich era is drawing to a close (Picture: Getty)

Boehly’s consortium includes business associates Hansjorg Wyss, Mark Walker and Jonathan Goldstein.

This week, Chelsea released a statement on behalf of Abramovich, insisting the Russian has not backed down on his promise to write off the £1.6billion in loans he gave the club.

Abramovich put Chelsea up for sale on March 2 amid Russia’s ongoing invasion of Ukraine.

The 55-year-old was then sanctioned by the UK government on March 10, with Downing Street claiming proven links between the Russian-Israeli billionaire and Vladimir Putin.

Abramovich has owned Chelsea for 19 years and has guided the club to 21 trophies in a glittering tenure.

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Chelsea FC Todd Boehly signs agreement to buy Chelsea and end ownership of Roman Abrahimovich in £4billion deal

Nate Jones

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