Chelsea sale deal, billions in revenue for charity

Chelsea have reached an agreement to sell the London club. It says a consortium led by businessman Todd Boehle will pay close to 3 billion euros for the acquisition Declaration† Furthermore, they invested around $2 billion in the club.

Chelsea’s survival has become uncertain after Russian owner Roman Abramovich was forced to waive penalties for the club that won the Champions League last year. Due to Russia’s invasion of Ukraine, the oligarchs were no longer allowed to do business in the UK. On Wednesday, several British media reported that bankruptcy was imminent.

The future appears to be reserved for the sale. The club reported that the proceeds would be deposited into a protected British bank account and that nearly 3 billion euros were set to go entirely to charities. Abramovich would have chosen this because he is not allowed to gain anything from selling his club due to penalties.

Chelsea wrote that the British government has yet to approve this flow of money. The club expects the sale to be completed by the end of the month.

baseball club co-owner

The new group of owners is led by American Todd Boyle, who partially owns the Los Angeles Dodgers baseball club. The other parties are investment firm Clearlake Capital, American businessman Mark Walter and Swiss billionaire Hansjoerg Wyss.

According to Chelsea, an additional $2 billion of investment will go to Stamford Bridge, the youth academy, the women’s team and the stadium where the women play. The Chelsea Foundation, which supports social projects, also benefits from the additional funds.

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Megan Vasquez

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