London [UK]May 7 (ANI): Chelsea Football Club on Saturday confirmed that conditions have been agreed for a new group of owners led by Todd Boli, Clearlake Capital, Mark Walter and Hansorg Vis to acquire the Premier League club.
The group is led by Todd Bolly, who is also a co-owner of LA Dodgers, and it also includes support from U.S. investment firm Clearlake Capital.
Of the total investment, £ 2.5 billion will be used to buy the Club’s shares, and such proceeds will be transferred to a frozen UK bank account with the intention of donating 100% to charity, as confirmed by Roman Abramovich.
The transfer from the frozen UK bank account will require the approval of the UK Government.
In addition, the proposed new owners will allocate 1.75 billion pounds for further investment in favor of the club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmead, as well as continued funding for the Chelsea Foundation.
The sale is expected to be completed in late May, subject to all necessary regulatory approvals. More details will be announced at the time, the club added. (ANI)