Breaking: Todd Boehly Takeover Chelsea From Roman Abramovich

English Premier League club, Chelsea have announced the club’s new ownership group.

In an official statement sighted by Naija News on the club’s website on Saturday morning, Todd Boehly would be leading a group of four in the acquisition of the English club.

The club’s new owner led by Boehly included, Clearlake Capital, Mark Walter and Hansjoerg Wyss.

As confirmed in the official document, a payment of £3.5billion has been made as takeover to replacing Roman Abramovich.

His consortium was named as the preferred bidder to take over Chelsea by the Raine Group, the US bank who are overseeing the sale.

Chelsea’s statement read in part: “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.

“The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.”

“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.”

The statement revealed further that 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, Naija News understands.

This article was originally published on Nigeria News