A consortium led by Los Angeles Dodgers part-owner Todd Boehly and backed by Clearlake Capital has won the bid to acquire Chelsea.
The sale, which has a total value of £4.25 billion ($5.25 billion), is expected to be completed in late May subject to all necessary regulatory approvals.
\"Of the total investment being made, £2.5bn ($3.1bn) 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 Roman Abramovich,\" Chelsea said in a statement. \"In addition, the proposed new owners will commit £1.75bn ($2.14bn) in further investment for the benefit of the Club.\"
Via ESPN