Chelsea confirm terms have been agreed with a consortium led by Los Angeles Dodgers part-owner Todd Boehly and backed by Clearlake Capital over the acquisition of the English Premier League soccer team for $5.2 billion
A sign is seen at an entrance to Stamford Bridge, the stadium for Chelsea Football Club, after Russian businessman Roman Abramovich said he would sell Chelsea, 19 years after buying it, amid growing pressure for oligarchs to be hit by sanctions after Russia's invasion of Ukraine, in London, Britain March 3, 2022.
The Stamford Bridge-based outfit announced the 4.25 billion pound deal for the reigning European champions in a statement issued in the early hours of Saturday, subject to receiving the required approvals. "The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time."
The statement confirmed all proceeds would be placed in a frozen UK bank account and Russian owner Roman Abramovich, who is currently subject to sanctions by the British government, would donate all of the proceeds to charitable causes.
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