Chelsea Football Club confirms terms of sale to group led by Buhli


Expected sale of Chelsea Football Club It was confirmed and it would be the highest amount ever for any professional sports team.

Terms of the deal have been reached with a consortium led by Los Angeles Dodgers Partial owner Todd Buhle Powered by Clearlake Capital.

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The deal was announced worth 4.25 billion pounds ($5.2 billion) for the European champions.

A sign stands at the gate to Stamford Bridge, the home stadium of Chelsea Football Club, owned by Russian billionaire Roman Abramovich, in London, United Kingdom, on Wednesday, March 2, 2022. (Holly Adams/Bloomberg via Getty Images/Getty Images)

This includes 1.75 billion Egyptian pounds ($2.2 billion) committed to be invested in the stadium and the women’s team.

Russian billionaire Roman Abramovich, who has owned the team for nearly 20 years, is currently under sanctions by the British government and will donate all of its proceeds to charitable causes.

Chelsea’s owner, Roman Abramovich, is among a Russian oligarch restricted by the UK government

Abramovich put the club up for sale in early March after his national team Invasion of Ukraine.

Chelsea FC owner Roman Abramovich attends the final soccer match of the UEFA Women’s Champions League in Gothenburg, Sweden, on Sunday, May 16, 2021. (AP Photo/Martin Meissner, File/AP Newsroom)

Proceeds from the sale will be placed in a UK frozen bank account.

The transaction is expected to be completed by late May and is still subject to required approvals.

Russo-Ukrainian War: Russian oligarch Roman Abramovich prepares to sell Chelsea as lobby

The price exceeds the $2.4 billion that billionaire hedge fund manager Steve Cohen paid for $2.4 billion New York Mets in 2020, according to data from Dealogic and published by the Wall Street Journal.

Todd Boyle, Co-Founder, Chairman and CEO, Eldridge, speaks during the Milken Institute Global Conference on May 2, 2022 in Beverly Hills, California. (Photo by Patrick Ty Fallon/AFP via Getty Images) (Photo by Patrick T. Fallon/AFP via Getty Images)/Getty Images)

The Boyle Group, which also includes Swiss billionaire Wes, is in exclusive negotiations to buy the club after rejecting a late bid from British billionaire Jim Ratcliffe.

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Several groups have expressed interest in the team, including Boston Celtics co-owner Stephen Pagliuca, former British Airways chairman Martin Bruton, as well as a consortium led by the Chicago Cubs’ Ricketts family.

Reuters contributed to this report.

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