🚨 OFFICIAL: Chelsea confirm Todd Boehly as new owner

English Premier League side Chelsea have confirmed that terms have been agreed for American Todd Boehley to complete his £4.25 billion acquisition of the club.

Todd Boley’s consortium has signed an agreement to buy Chelsea from Roman Abramovich. The proposed deal must be approved by the UK government and the Premier League before it can be completed.

A statement from the Blues read: “Chelsea Football Club can confirm that the terms of a new ownership group, led by Todd Boehle, Clearlake Capital, Mark Walter and Hansjoerg Weiss, have been agreed to acquire the club.”

Of the total ongoing investment, £2.5 billion will be applied to purchase shares in the club, and this proceeds will be deposited into a UK frozen bank account with the intent of donating 100% to charitable causes as confirmed by Roman Abramovich. UK Government approval will be required to transfer proceeds from the UK frozen bank account.

The Premier League meets on June 8 to form the new season, at which time Chelsea will need to obtain a license to be part of next season.