Premier League approves takeover of Chelsea by Todd Boehly’s group

The offer of 4.25 billion pounds, or 4.97 billion euros, formulated on May 7 by a consortium led by the American businessman Todd Boehly, for the takeover of Chelsea, owned by the oligarch Russian Roman Abramovich since 2003, certainly remains subject to the official agreement, already acquired according to The Telegraph, from the British government. A spokesman for Prime Minister Boris Johnson said the government “was working closely with the club to finalize the sale”.

A process started on March 2

But in the meantime, the Premier League officially approved it on Tuesday, in a press release. Amid the turmoil following the Russian invasion of Ukraine, London-sanctioned Abramovich put Chelsea up for sale on March 2, insisting he would not seek repayment of loans taken out by the club, throughout his 19-year reign and that all proceeds from the operation would go to the victims of war.

After a long bidding process involving several groups, it was that of Mr. Boehly and his investor partners who was chosen by the New York bank Raine Group, which is overseeing the sale. The group of investors is made up, in addition to Mr. Boehly, of Mark Walter, with whom he is co-owner of the Dodgers, the baseball franchise of Los Angeles, of the Swiss billionaire Hansjoerg Wyss, founder of the manufacturing company of medical equipment Synthes , and the American investment company Clearlake Capital.

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