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  • Sports - Football - Transfers
  • Updated: May 07, 2022

Todd Boehly Acquires Chelsea FC For £4.5 Billion In Takeover Bid

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Oladimeji Balogun
Oladimeji Balogun

Oladimeji Balogun is a graduate of the University of Ilorin where he studied Microbiology, he is a w...

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A consortium led by LA Dodgers part-owner Todd Boehly and backed by Clearlake Capital has won the bid to acquire Premier League club, Chelsea, in a deal worth up to £4.5 billion pounds, according to reports on Friday.

The proposal has now been sent to the government and Premier League for approval.

With just over three weeks remaining on the club's current operating licence, which expires on 31 May, Boehly is on course to complete his takeover by the end of this month.

Russian owner Roman Abramovich, now subject to sanctions by the British government, put the London club up for sale in early March following his country's invasion of Ukraine.

Abramovich cleared the path for the takeover on Thursday after he dismissed reports that he wanted a loan given to the club, reportedly worth £1.5 billion, to be repaid.

The Boehly group, which also includes Swiss billionaire Hansjorg Wyss and British property investor Jonathan Goldstein, were in exclusive negotiations to buy the club after a late bid from British billionaire Jim Ratcliffe was rejected.

Groups led by Boston Celtics co-owner Stephen Pagliuca and former British Airways chairman Martin Broughton were earlier eliminated from the bidding process while a consortium led by Chicago Cubs owners the Ricketts family pulled out of the running.

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Oladimeji Balogun
Oladimeji Balogun

Oladimeji Balogun is a graduate of the University of Ilorin where he studied Microbiology, he is a w...

More From this Author

English Premier League 2021/2022 TABLE

English Premier League
No Teams P Pts
1 Manchester City 38 93
2 Liverpool 38 92
3 Chelsea 38 74
4 Tottenham Hotspur 38 71
5 Arsenal 38 69
Full Table

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Chelsea
Chelsea

Chelsea Football Club are an English professional football club based in Fulham, London. Founded in 1905, they compete in the Premier League...

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