Todd Boehly makes Chelsea vs Wolves decision after agreeing takeover of the club

Todd Boehly makes Chelsea vs Wolves decision after agreeing takeover of the club

Chelsea’s new owner Todd Boehly is expected to be in the stands today for Chelsea’s clash with Wolves, according to reports.

The Blues have confirmed that terms have been agreed for a new ownership group, with the consortium led by Boehly set to takeover the club. A statement on the club’s website read: “Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Club.

“Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and 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. UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.

“In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation. The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.”

Eldridge industries chief Boehly was in London on Friday night before the club made their announcement at 01.37 on Saturday morning. Now, as reported by the Daily Mail, with him still in the capital, it looks as though he’ll attend Stamford Bridge today for the Blues’ crucial Premier League match vs Wolves.

Chelsea have been clawed back into the Champions League race after an unfortunate result against relegation battling Everton last weekend, but the players should be encouraged by the news that the club’s takeover issues looks close to finally being resolved.

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