The owner of the baseball team ended up buying Chelsea

Of the total investment being made, $3,000 million will be applied to purchase club shares and the income will be deposited into a UK frozen bank account with the intent of donating 100% to charitable causes, Abramovich confirmed. .

The consortium leads Boehly, but Clearlake Capital, the California private equity firm, will own the majority of Chelsea’s shares. Other investors include American billionaire Mark Walter, who is also a co-owner of L.A. Dodgers, and Swiss billionaire Hansjoerg Wyss.

The new owners agreed not to sell a majority stake in the club until 2032 and provided guarantees on dividends and debt.

The consortium said it would provide $2.16 billion to invest in the Premier League club, including “investments in Stamford Bridge, the club’s youth divisions, the women’s team and the Chelsea Foundation”.

In a statement, Chelsea said it expected the sale to be completed by the end of May and that the acquisition would require approval from the English football authorities and the UK government.

Chelsea operate under a special license from the UK government that expires on May 31, but Culture Secretary Nadine Doris said last month that the club was on “lose time” to complete the sale.

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Amber Cross

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