Chelsea takeover: First deal in £4bn deal ‘must be signed on Friday’

Chelsea are in the process of a multi-billion dollar takeover after Roman Abramovich put the club up for sale following the Russian invasion of Ukraine and Todd Boehly is the favourite


Todd Boehly has high hopes of signing the first deal ahead of his likely £4billion takeover of Chelsea from Roman Abramovich.

The Blues are in a race against time to find new owners before the start of next season after being put up for sale following the Russian invasion of Ukraine. Abramovich was subsequently sanctioned by the British government for his alleged links to Vladimir Putin.

It had a huge knock-on effect at Stamford Bridge, where they can’t sell tickets to fans, negotiate transfers or renew their players’ contracts. They were only allowed to continue operating as a football club on the basis of a special license granted by the British government.

Abramovich has since decided to sell the club and a wide-ranging search for a new owner has been narrowed down to choices by Raine Group, which handled the multi-billion pound transaction. LA Dodgers co-owner Boehly has been selected as the preferred bidder, giving him the right to conduct exclusive negotiations.

Chelsea Boehly executives will formally nominate ministers if they seek an amended sales license, according to the Telegraph. That could be completed within the May 21 deadline imposed by the government. However, the American businessman reportedly plans to sign the first deal on Friday.

The Premier League has conducted background checks on Boehly’s consortium, which includes funding from Clearlake Capital, Jonathan Goldstein and Hansjorg Wyss. Despite the fact that the sale will be valued at £4billion, there is confidence on all sides that a deal can be struck quickly.

Todd Boehly’s consortium will now hold exclusive talks with Chelsea board of directors.

First, however, Boehly must sign a purchase agreement, which will be offered in the next 24 hours. A potential hiccup occurred when reports surfaced that Abramovich was inquiring about a $1.6 billion loan.

A statement on Chelsea’s website said: “Mr Abramovich has not asked for a loan to be repaid to him – such suggestions are dead wrong – as are suggestions that Mr Abramovich increased the club’s price at the last minute.

“However, as part of Mr Abramovich’s goal of finding a good manager for Chelsea FC, he has encouraged every applicant throughout this process to invest in the club – including in the academy, the women’s team, the necessary refurbishment of the stadium as well as the upkeep of the club Stadion’s work by the Chelsea Foundation.”

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