Thursday, August 18, 2022

Chelsea reach agreement to sell club to Todd Boehly

Chelsea football club (CFC) has reached a final agreement with Todd Boehly and backed by Clearlake Capital consortium for the sell of the club.

The deal that was reached on Friday night will be confirmed on Monday as revealed by an official statement from the club.

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“Chelsea Football Club can confirm that a final and definitive agreement was entered into last night to sell the Club to the Todd Boehly/Clearlake Capital consortium.

It is expected that the transaction will be completed on Monday. The Club will update further at that time.” Said Chelsea.

The deal to seal the club was further approved by both the Premier League and the British government earlier this month.

Chelsea owner Roman Abramovich opted to sell the club following the invasion of Russia in Ukraine. His assets were frozen and the club was issued a special license to facilitate its operations.

Chelsea further confirmed that the proceeds from the sell of the club would go to a charitable foundation following the instruction of the Russian owner.

“I am proud that as a result of our joint successes, millions of people will now benefit from the new charitable foundation which is being established,” Said Chelsea

Since the arrival of Abramovich, the Blues have been on the successful clubs in Europe winning five Premier League tittles, five FA Cups and two Champions League trophies.

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Alex Kiprop
News Moto sports correspondent. Catch up the latest results when they happen and as they happen, locally and international

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