Price tag of $8.18 billion as Chelsea sale terms agreed

CHELSEA have confirmed Todd Boehly’s consortium has agreed terms to buy the Stamford Bridge club from Roman Abramovich in a £4.25 billion ($8.18 billion) deal.

Los Angeles Dodgers co-owner Boehly has won the race to buy the Blues amid the most public major sports franchise takeover in history.

Boehly, Clearlake Capital, Mark Walter and Hansjorg Wyss must now wait for Premier League and UK Government approval before rubber-stamping the agreement.

Eldridge Industries chief executive Boehly was in London yesterday and was expected to attend Chelsea’s Premier League clash with Wolves at Stamford Bridge today.

‘‘Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjorg Wyss, to acquire the club,’’ a Chelsea statement read.

‘‘Of the total investment being made, £2.5 billion will be applied to purchase 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. The sale is expected to be complete in late May subject to all necessary regulatory approvals.’’

Boehly leads the consortium bid, but US investment firm Clearlake Capital investment is expected to hold the majority stake.

Abramovich put the club up for sale on March 2 amid Russia’s continued invasion of Ukraine. Abramovich was then sanctioned by the UK Government on March 10, with Downing Street claiming to have proven his links to Russia’s president Vladimir Putin.

Russian-Israeli billionaire Abramovich has owned Chelsea since 2003, steering the club to 21 trophies.