Chelsea fetches highest price for sports team

The forced sale of Chelsea is ending after attracting the highest price for a sports team of 2.5 billion pounds ($3.1 billion) from a consortium fronted by Los Angeles Dodgers part-owner Todd Boehly.

There are still potential stumbling blocks to the sale of Roman Abramovich’s asset, frozen by sanctions against the Russian oligarch.

The British government has to approve the terms and ensure Abramovich does not profit, even as he appears to want to divert the proceeds to charity.

Hours after buyout terms were agreed and announced, Boehly had a dispiriting introduction to life as an English Premier League investor when Chelsea threw away a two-goal lead to draw with Wolverhampton 2-2 on Saturday.

Boehly was watching at the team’s Stamford Bridge stadium in west London that needs some of the 1.75 billion pounds ($2.2 billion) the prospective owners have committed to investing.