Chelsea have tonight confirmed the long awaited news that terms have been agreed on a deal to sell the club to a consortium lead by Todd Boehly and Clearlake Capital.
Boehly has been the front-runner in the race since the very start, and from the moment he was chosen as the “preferred bidder” and entered into exclusive talks with the current ownership, this moment has seemed inevitable.
The club statement outlines various details of the deal, including promises of major investment. The £2.5bn being spent on the club will be deposited into a frozen UK bank account and then spent on charitable causes as is Roman Abramovich’s wish.
An additional £1.75bn has been committed to investment in the club, stadium, academy, Women’s team and Chelsea Foundation.
Subject to approval from the Premier League and the UK government, the statement claims the deal is expected to be completed later this month.