Todd Boehly consortium set to take over the ownership at Chelsea Football Club
Following Roman Abramovich's sale of Chelsea, American businessman and Sports enthusiast, Todd Boehly of LA Dodgers, has been designated as Chelsea Football club's new owner.
What is the valuation of the Chelsea F.C sale?
Chelsea F.C and Todd Boehly consortium, co-owner of the Los Angeles Dodgers baseball team, have agreed to terms on a £4.25 billion ($5.2 billion) Sale.
Chelsea said that the club's shares will be valued at £2.5 billion, according to the statement. At the same time, the revenues will be deposited into a bank account that will be frozen and donated to charity.
According to reports, the club's primary owner has decided to hold off on selling the majority of his stock until 2032, while also ensuring other dividends and debts.
Who are the investors?
A majority of the stocks at Chelsea F.C will be owned by Todd Boehly Consortium, a California-based private equity business.
His group will put £1.75 billion into the Blues, including "investments at Stamford Bridge, the academy, the women's team, and Kingsmeadow, as well as continued funding for the Chelsea Foundation."
When will the takeover be complete?
Because the takeover will require the approval of English football authorities and the UK government, the deal will be completed by the end of May.
The club is currently operating on a special licence that expires on May 31st, but culture secretary Nadine Dorries said the club was operating on "borrowed time" to complete the sale.
The transaction will only go ahead if the bidders pass the Premier League's owner and director test.
The off-the-field problems persisted when Roman Abramovich opted to sell the club before the UK government sanctioned him for alleged ties to Russian President Vladimir Putin following Russia's invasion of Ukraine.
Roman Abramovich claimed on Thursday that he has not asked Chelsea to repay his £1.5 billion debts because he wants the money to go to good causes after the sale.
Todd Boehly is a well-known figure in the world of sports:
Boehly is an American millionaire who controls the vast majority of the country's sports. The US baseball team, the US women's basketball team, the Los Angeles Sparks, and the legendary NBA team, the Los Angeles Lakers, are among those who own a share in the league.
He has a net worth of $4.5 billion (£3.6 billion), according to Forbes.
Todd Boehly has already stated his expectations at Chelsea for the summer transfer window. Mason Mount and Reece James, who have been key players for Chelsea this season, are expected to have their contracts renewed, according to the article.
Apart from that, the American billionaire plans to invest in Chelsea's youth system; as previously stated, he is devoted to strengthening Chelsea's team and will invest £1.75 billion for the club's benefit.