Todd Boehly is expected to attend the Chelsea VS Wolves game at Stamford Bridge on Saturday.
The Todd Boehly-led Consortium was named the preferred bidders by the Raine Group, the American bank that is overseeing the sale. He has partnered with fellow Dodgers owner Mark Walter, and Swiss billionaire Hansjorg Wyss as well as investment firm Clearlake Capital.
He beat out consortium led by Stephen Pagliuca and Sir Martin Broughton, as well as a late £4.25 billion bid from Sir Jim Ratcliffe, Britain’s richest man.
Chelsea announced on their official website on Saturday morning that The Todd Boehly led Consortium had been given the green light by the Uk Government to purchase Chelsea.
The Club said the sale is expected to complete in late May subject to all necessary regulatory approvals.
The American Billion was in London to sign the purchase agreement and he is expected to attend his first game at Stamford Bridge on Saturday according to daily mail.
Thomas Tuchel and his boys will be seeking to impress their new owner when they host Wolves at Stamford Bridge after a disappointing display against Everton last weekend at the Goodison Park.
Chelsea’s official statement on Saturday reads: ‘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.
‘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.
‘In addition, 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 be complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.’
The announcement will come as a piece of good news to Chelsea Fans after there were initial reports that Chelsea could be expelled from the Premier League if the takeover is not completed by the end of the month.
Meanwhile, The Chelsea supporters Trust has released a statement on their Twitter page, in which they said they are now ‘optimistic’ over the future of the club.
They wrote: ‘The CST welcomes the news that terms have been agreed for the Todd Boehly-led consortium to acquire Chelsea Football Club.
‘We will continue to hold close discussions with the prospective owners. We are optimistic about the future of #CFC.
‘We hope that the sale is completed swiftly.’
The CST welcomes the news that terms have been agreed for the Todd Boehly led consortium to acquire Chelsea FC.
We will continue to hold close discussions with the prospective owners. We are optimistic about the future of #CFC.
We hope that the sale is completed swiftly.
— Chelsea Supporters’ Trust⭐️⭐️ (@ChelseaSTrust) May 7, 2022