The UK government will oversee the sale of Chelsea FC to a consortium led Todd Boehly, co-owner of the Los Angeles Dodgers, two months after Russian oligarch Roman Abramovich placed the club on the market.
The club first went up for sale in early March as owner Roman Abramovich faced international sanctionsThe sale for Chelsea F.C. is drawing to a close as a consortium led by Los Angeles Dodgers part-owner Todd Boehly won with a $5.25 billion bid, theBoehly is joined in the purchase by Clearlake Capital, Swiss businessman Hansjorg Wyss and Mark Walter, CEO of Guggenheim Partners and co-owner of several Los Angeles sports teams, including the Dodgers.
The announcement came as the club faces a quickly approaching deadline of May 31 set by the U.K. government. Chelsea first went up for sale in early March, a week before the government issuedagainst Russian oligarch Roman Abramovich in response to his country’s invasion of Ukraine. According to the official statement, $3.1 billion will be deposited to the frozen U.K. bank account of Abramovich “with the intention to donate 100% to charitable causes.” The U.K. government is reportedly overseeing this transaction.
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