- Title: Boehly-led consortium wins bid to take over Chelsea
- Date: 6th May 2022
- Summary: LONDON, ENGLAND, UNITED KINGDOM (FILE - MARCH 10, 2022) (REUTERS) CHELSEA FOOTBALL CLUB SIGN CHELSEA'S STAMFORD BRIDGE STADIUM CHELSEA FOOTBALL CLUB SIGN AT STAMFORD BRIDGE STAMFORD BRIDGE SIGN STAMFORD BRIDGE STADIUM CHELSEA FOOTBALL CLUB SIGN STAMFORD BRIDGE STADIUM
- Embargoed: 21st May 2022 00:44
- Keywords: Chelsea Todd Boehly soccer
- Location: VARIOUS LOCATIONS
- City: VARIOUS LOCATIONS
- Country: UK
- Topics: Europe,Soccer,Sport
- Reuters ID: LVA002623806052022RP1
- Aspect Ratio: 16:9
- Story Text:A consortium led by LA Dodgers part-owner Todd Boehly and backed by Clearlake Capital has won the bid to acquire Premier League club Chelsea in a deal worth up to 4.0 billion pounds, Britain's Telegraph newspaper reported on Friday (May 6).
The proposal has now been sent to the government and Premier League for approval.
With just over three weeks remaining on the club's current operating licence, which expires on May 31, Boehly is on course to complete his takeover by the end of this month, The Telegraph said.
Russian owner Roman Abramovich, now subject to sanctions by the British government, put the London club up for sale in early March following his country's invasion of Ukraine.
Abramovich cleared the path for the takeover on Thursday after he dismissed reports that he wanted a loan given to the club, reportedly worth 1.5 billion pounds ($1.85 billion), to be repaid.
The Boehly group, which also includes Swiss billionaire Hansjorg Wyss and British property investor Jonathan Goldstein, were in exclusive negotiations to buy the club 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 were earlier eliminated from the bidding process while a consortium led by Chicago Cubs owners the Ricketts family pulled out of the running.
($1 = 0.8106 pounds)
(Production: Iain Axon, Stefan Haskins) - Copyright Holder: FILE REUTERS (CAN SELL)
- Copyright Notice: (c) Copyright Thomson Reuters 2022. Open For Restrictions - http://about.reuters.com/fulllegal.asp
- Usage Terms/Restrictions: None