Chelsea announce ownership deal with Dodgers’ Boehly

London, May 7 (EFE).- Chelsea reached an ownership agreement with the group led by Todd Boehly, the American co-owner of the Los Angeles Dodgers baseball team and shareholder of the Los Angeles Lakers, the Premier League club announced on Saturday.

The group takes over Chelsea from Roman Abramovich, who put the club up for sale just before being sanctioned by the United Kingdom for his links with the Russian President Vladimir Putin.

The operation is estimated at some 4.3 billion pounds ($5.3 billion).

“Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club,” Chelsea said in a statement.

“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,” it read.

The group will invest another 1.75 billion pounds in the Stamford Bridge stadium and the club academy among others as part of the deal, the statement added.

The operation is set to be completed by the end of the month after the relevant authorizations have been received by the British government and the Premier League, the club said.

The group comprises Boehly, investment company Clearlake Capital, millionaire Mark Walter, also co-owner of the Dodgers, and Swiss tycoon Hansjörg Wyss.

Since Chelsea was put up for sale, it operates with a special, restrictive license which expires on May 31. EFE


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