Todd Boehly

Chelsea FC said a group led by Los Angeles Dodgers co-owner Todd Boehly would acquire the London club after agreeing terms in a deal worth $5.2 billion.

Chelsea were forced to operate under a special licence from the government after Abramovich was sanctioned by Britain and the European Union for his links to Russian President Vladimir Putin. "UK government approval will be required for the proceeds to be transferred from the frozen UK bank account." "The sale is expected to complete in late May subject to all necessary regulatory approvals," the football club said in a statement late Friday.

Todd Boehly, the American Businessman, is all set to become the new owner of Chelsea Football Club. Here is more about his acquisition of the Premier....

Under his ownership, Chelsea enjoyed immense success as they won several big accolades and became a real powerhouse in the English Premier League and Europe. However, the bank account has been frozen by the UK government and requires their approval to utilize the funds. As per the statement released by the club, £2.5 billion of £4.5 billion will be dedicated to purchasing the shares of the club and the same will be deposited to the bank account owned by Roman Abramovich.

Todd Boehly has been pictured at Stamford Bridge for the first time since his consortium won its bid to buy Chelsea for £4.25billion.

The Premier League club had to operate on a special licence provided by the Government in the wake of sanctions imposed on Abramovich. Darren Lavery took the first photo of Boehly outside of Stamford Bridge and spoke to the new owner Boehly's takeover is expected to be completed by the end of this month and by the deadline Todd Boehly has been pictured at Stamford Bridge for the first time since his consortium won its bid to buy Chelsea for £4.25billion. Boehly is expected to attend Saturday's match between Chelsea and Wolves at Stamford Bridge following confirmation of the agreement. PICTURED: Todd Boehly seen at Stamford Bridge for the first time after his consortium signed an agreement to purchase Chelsea for £4.25billion

The Los Angeles Dodgers co-owner has won the race to buy the Blues amid the most public major sports franchise takeover in history.

Start your Independent Premium subscription today. The Government is expected to ensure the sale proceeds benefit victims of the war in Ukraine, with Abramovich hoping that independent directors can run a new foundation. More details will be provided at that time.” Abramovich remains hopeful that his plan to donate all the proceeds of the sale to a new charitable foundation can still come to fruition. That loan cannot be written off under the terms of Abramovich’s sanctions however, and it is expected to be frozen on completion of the sale. The Los Angeles Dodgers co-owner has won the race to buy the Blues amid the most public major sports franchise takeover in history.

Todd Boehly co-owner of di LA Dodgers baseball team and own stake for three sports teams for Los Angeles, America. Chelsea Football Club confam di sale on ...

But say im no go ask make dem pay back any loan. Abramovich say im go donate di proceeds of di sale to war victims. But for im statement e announce im intention to sell im ownership "no be about business or money, but about pure passion for di game and club". Abramovich toktok pesin say di Russian business man "remain committed" to making sure di money from di sale "go to good causes". On Thursday, Abramovich say im no tok say make dem repay im £1.5bn loan to Chelsea wen dem sell di club. Di Chelsea statement add say di new owners go pay £2.5bn for di club shares.

Todd Boehly is set to be in attendance at Stamford Bridge on Saturday afternoon when Chelsea face Wolves in the Premier League.

It will be the first time he attends a game since the purchase agreement was signed. More details will be provided at that time." "Of the total investment being made, £2.5 billion 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.

A statement on the club's website read: "Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake ...

A statement on the club's website read: "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. Eldridge industries chief Boehly was in London on Friday night before the club made their announcement at 01.37 on Saturday morning. More details will be provided at that time."

Todd Boehly is due to attend Chelsea's Premier League clash with Wolves on Saturday afternoon, just a matter of hours after agreeing a deal to buy the Blues ...

The sale is not yet complete, with the statement predicting it to be finalised by the end of the month, with Premier League and government approval required. Chelsea released an official statement in the early hours of Saturday confirming that Boehly’s consortium, which also includes Hansjoerg Wyss and Mark Walter, have agreed a deal to buy the club. Todd Boehly is due to attend Chelsea’s Premier League clash with Wolves on Saturday afternoon, just a matter of hours after agreeing a deal to buy the Blues from Roman Abramovich.

Follow live updates as the Stamford Bridge club changes hands and Thomas Tuchel's side prepare to face Wolves in the Premier League.

Here’s a timeline of what they’ve had to go through since being shortlisted Start your Independent Premium subscription today. Chelsea sale latest news Follow all the news and reaction to the Chelsea sale, plus team news and live action from Chelsea vs Wolves below: Chelsea sale latest news Since Roman Abramovich put the Blues on the market in March there have been dozens of reports, interested parties and bids, with the Boehly bid - which also includes Hansjorg Wyss and Clearlake Capital - ultimately set to complete a deal worth £4.25bn in total. A win here today will go a long way towards letting fans look forward to next season with huge optimism. Chelsea sale latest news Chelsea sale latest news Chelsea sale latest news Latest Chelsea sale news In a statement posted on the Chelsea website, a spokesperson for the club owner, said: “Firstly, Mr Abramovich’s intentions in relation to gifting the proceeds from the Chelsea sale to charity have not changed.

Mr Boehly claims to have investments in more than 70 operating businesses, ranging from media to sports. The businessman is well-versed in sports club ownership ...

He also reportedly attempted to purchase Tottenham Hotspur in 2019. Forbes describes it as a “diverse conglomerate with investments ranging from Bruce Springsteen’s song rights to daily fantasy and sports-betting firm DraftKings.” According to the club, £2.5bn will go towards purchasing the shares in the club – and this money will be put into a frozen UK bank account “with the intention” to donate 100 per cent of it to charity. According to The Athletic, he was in ‘advanced negotiations’ with the club for a sale price of around £2.3bn, though no final deal was agreed and the sale fell through. Eldridge reportedly owns Dick Clark Productions, which produces the awards ceremony. Mr Boehly received a Bachelor of Business Administration at the College of William and Mary, a public research university in Virginia, where he later founded The Boehly Centre for Excellence in Finance there.

Chelsea are likely to adopt a new approach in the transfer market, according to football finance expert, Kieran Maguire.

"They've seen what FSG have achieved at Liverpool. Liverpool have spent half a billion pounds less over the course of the last nine years investing in the player market compared to Chelsea, Manchester United and Manchester City and yet we're sitting this morning with Liverpool on the brink of a potential quadruple. According to Maguire, Boehly's consortium are likely to adopt a new tactic in the transfer market. A statement on the club's website read: "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.

Todd Boehly has signed a deal to take over Chelsea FC. Who is the American businessman and what's his net worth?

As well as established teams like the Lakers, Todd has an interest in the burgeoning eSports market, being an owner of fantasy sports company DraftKings and esports organisation Cloud9. Boehly owns 20% of the iconic baseball team, the Los Angeles Dodgers, and is also a part owner of the basketball team, Los Angeles Sparks. Todd is married to wife, Katie Boehly, co-founder of the Boehly Center for Excellence in Finance and a philanthropist who has worked for charities trying to find a cure for epilepsy.