Chelsea takeover: Todd Boehly reaches purchase agreement to land Premier League club from Roman Abramovich
CBSN
The London-based Premier League club could soon be in for an American takeover
A new dawn is coming for Chelsea as a consortium led by American businessman Todd Boehly has signed a purchase agreement to buy the club from Roman Abramovich in a deal worth up to $4.9 billion (upwards to 4 billion pounds), the club confirmed in a statement Friday night. The deal will now be pending approval from the Premier League and the United Kingdom government.
"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," Chelsea's statement read.
"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."
