Chelsea release statement confirming new owners

Chelsea Football Club has issued a latest statement to confirm that terms have been agreed upon for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Club.

The statement revealed that of the total investment being made, £2.5bn will be applied to purchase the 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.

According to the post via Chelsea’s official website, the UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.

In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation.

The sale is expected to complete in late May subject to all necessary regulatory approvals.

With this, Chelsea will have a chance to participate in the summer transfer market and also see the ban placed on the club lifted.