Chelsea FC has confirmed that a group of owners led by American businessman Todd Bolly has signed an agreement to transfer to Roman Abramovich.
The acquisition came after the British government decided to “freeze” the club’s assets due to the ownership of the Russian billionaire, who was subject to sanctions.
The £ 4.25 billion deal involves an initial purchase of £ 2.5 billion worth of shares and an additional investment of £ 1.75 billion.
A statement from the club said: “Chelsea Football Club can confirm that the terms have been agreed for a new group of owners, led by Todd Boli, Clearlake Capital, Mark Walter and Hansorg Vis, to acquire the club.”
“Of the total investment, £ 2.5 billion will be used to buy the club’s shares, and such proceeds will be transferred to a frozen UK bank account with the intention of donating 100% to charity, as confirmed by Roman Abramovich.”
“The approval of the UK’s frozen bank account will require the approval of the UK government.”
“The sale is expected to be completed in late May, subject to all necessary regulatory approvals. More information will be provided at that time.”
The new owners have pledged to fund the refurbishment of Stamford Bridge, the Academy, the women’s team and Kingsmead for £ 1.75 billion.
Funding for the Chelsea Foundation will also continue.
Last week, the owner of the American baseball team “Los Angeles Dodgers” said: “Nothing can cause passion like sports. And if you have passion, then you have people who care about things. And if you have people who care about things, you have great opportunities.
“And in fact, it’s about curating this experience, access, this opportunity. This year, 4 million people will come to the Dodger Stadium.
“So our goal is to give them the best possible experience. We still have the most affordable tickets in the league, basically for a stadium that fills up regularly.