Boehly-led consortium wins bid to take over Chelsea

A consortium led by LA Dodgers part-owner Todd Boehly and backed by Clearlake Capital has received the bid to purchase Premier League membership Chelsea in a deal price up to 4.0 billion kilos, Britain’s Telegraph newspaper reported on Friday (May 6).

The proposal has now been despatched to the federal government and Premier League for approval.

With simply over three weeks remaining on the membership’s present working licence, which expires on May 31, Boehly is heading in the right direction to full his takeover by the top of this month, The Telegraph mentioned.

Russian proprietor Roman Abramovich, now topic to sanctions by the British authorities, put the London membership up on the market in early March following his nation’s invasion of Ukraine.

Abramovich cleared the trail for the takeover on Thursday after he dismissed stories that he needed a mortgage given to the membership, reportedly price 1.5 billion kilos (US$1.85 billion), to be repaid.

The Boehly group, which additionally contains Swiss billionaire Hansjorg Wyss and British property investor Jonathan Goldstein, had been in unique negotiations to purchase the membership after a late bid from British billionaire Jim Ratcliffe was rejected.

Groups led by Boston Celtics co-owner Stephen Pagliuca and former British Airways chairman Martin Broughton had been earlier eradicated from the bidding course of whereas a consortium led by Chicago Cubs house owners the Ricketts household pulled out of the working.

Boehly-led consortium wins bid to take over Chelsea

Source : channelnewsasia.com

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