Boehly-led consortium on course to complete Chelsea takeover

In the club Statement on Saturday the 7th of May, Chelsea has confirmed that a consortium led by Todd Boehly, the LA Dodgers part-owner and backed by Clearlake Capital won the bid to acquire Premier League club Chelsea in a deal worth up to £4 billion pounds.

Chelsea owner Roman Abramovich, has since put the club on sale early March following his country, Russian invade Ukraine. And on Thursday he cleared the path for the takeover when he dismissed reports that he required a loan given to the club.

Club Statement.— Chelsea FC (@ChelseaFC) May 7, 2022

Boehly is on course to complete his takeover by the end of this month, as the club's current operating licence expires on 31 May.

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

Among other bidders who however did not make it are: the British billionaire Jim Ratcliffe whose proposal was rejected, a group led by Chicago Cubs owners the Ricketts family that later pulled out and the former British airways chairman Martin Broughton partnered with Boston Celtics co-owner Stephen Pagliuca who got eliminated earlier in the process of bidding.