Chelsea Supporters’ Trust ‘welcome’ positive news that Todd Boehly’s consortium has signed an agreement ahead of £4.25bn takeover and are ‘optimistic’ over the club’s future after talks with the LA Dodgers owner
The Chelsea Supporters’ Trust say they welcome news that the terms have been agreed for Todd Boehly to complete his £4.25bn takeover of the club.
Chelsea confirmed on their official website at 1.37am on Saturday morning that the American’s consortium can purchase the club, following the UK Government’s approval.
The club said that the deal is expected to be completed by the end of May, ‘subject to all necessary approvals’.
Boehly’s consortium was named as the preferred bidder to take over at Stamford Bridge by the Raine Group, the American bank who are overseeing the sale. He has partnered with fellow Dodgers owner Mark Walter, Swiss billionaire Hansjorg Wyss as well as investment firm Clearlake Capital.
It comes as great news for Chelsea fans following a period of uncertainty after sanctions were placed on the club’s former owner Roman Abramovich for his ties with Russian president Vladimir Putin, amid the country’s ongoing war in Ukraine.
The CST released a statement on their Twitter page, in which they said they are now ‘optimistic’ over the future of the club.
Chelsea confirmed terms have been agreed for Todd Boehly to complete a £4.25bn takeover
The Chelsea Supporters’ Trust released this statement after the update over the takeover
They wrote: ‘The CST welcomes the news that terms have been agreed for the Todd Boehly led consortium to acquire Chelsea FC.
‘We will continue to hold close discussions with the prospective owners. We are optimistic about the future of #CFC.
‘We hope that the sale is completed swiftly.’
Boehly’s consortium saw off the likes of Stephen Pagliuca, Sir Martin Broughton and Britian’s richest man Sir Jim Ratcliffe who had launched a late bid in an attempt to takeover Chelsea
He is expected to be in attendance at Stamford Bridge for their game with Wolves on Saturday
The LA Dodgers owner was pictured at Stamford Bridge on Friday night, hours before Boehly’s group signed a purchase agreement.
Darren Lavery, who took the picture, claimed in a tweet that American billionaire Boehly was ‘more than happy to stand and chat away with us’, adding that the businessman was a ‘top, top guy’.
Boehly is expected to be in attendance at Stamford Bridge later on Saturday, when Chelsea play Wolves in the Premier League.
He saw off competition from consortiums fronted by Stephen Pagliuca and Sir Martin Broughton and even a late £4.25bn bid from Britain’s richest man Sir Jim Ratcliffe.
Boehly (centre) was pictured at Stamford Bridge on Friday night before the announcement
Chelsea’s statement in the early hours of Saturday morning read: ‘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.
‘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 per cent 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.
‘In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation.
‘The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.’