Chelsea FC: Final and definitive agreement reached to sell the Club 

A club statement has been released by Chelsea Football club confirming that a final and definitive agreement to sell the club has been reached. The statement was disclosed on the club website this morning, stating that Todd Boehly/Clearlake Capital consortium, who are top bidders, could finalize the transaction on or before Monday.

“Chelsea Football Club can confirm that a final and definitive agreement was entered into last night to sell the Club to the Todd Boehly/Clearlake Capital consortium. It is expected that the transaction will be completed on Monday. The Club will update further at that time.”

Early this week the UK government approved the club to be sold with Boehly/Clearlake Capital Consortium being the favourite to buy among umpteen bidders.

The UK government sanctioned Roman Abramovich just a few days after the owner planned to sell the club. His sanction was linked to his involvement in Vladimir Putin’s invasion of Ukraine. On 24 February, Russia invaded Ukraine, and on 26 February Roman Abramovich gave “stewardship and care” of the club to a charitable foundation.

According to the BBC, the government does not want Abramovich to receive any of the proceeds from the sale, which will instead go into a frozen bank account to be donated to charity.

The statement added: “Following the sanctioning of Roman Abramovich, the government has worked hard to ensure Chelsea has been able to continue to play football. But we have always been clear that the long-term future of the club could only be secured under a new owner.

“Following extensive work, we are now satisfied that the full proceeds of the sale will not benefit Roman Abramovich or any other sanctioned individual. We will now begin the process of ensuring the proceeds of the sale are used for humanitarian causes in Ukraine, supporting victims of the war.

“The steps today will secure the future of this important cultural asset and protect fans and the wider football community. We have been in discussions with relevant international partners for the necessary licences required, and we thank them for all their cooperation.”

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