Todd Boehly Consortium Makes Landmark Deal To Acquire English Soccer Giant Chelsea
deadline.comA group led by Todd Boehly, who also owns a stake in the Los Angeles Dodgers, the Los Angeles Lakers, dick clark productions and who is currently the caretaker CEO of the Hollywood Foreign Press Association, has agreed to terms to acquire the English soccer club Chelsea in a deal worth almost $5 billion.If approved by the UK government and the Premier League, the sale price would be the most ever paid for a sports franchise.
The Wall Street Journal and Financial Times are pegging the price at around £4.25 billion, which the club mostly confirmed late Friday.
Deadline’s sister publication Sportico also has details of the deal.Chelsea FC, in a statement tonight, said that “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 [former owner] Roman Abramovich.
UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.”It added that “the proposed new owners will commit £1.75bn in further investment for the benefit of the Club.
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