Chelsea football club have confirmed the ownership and the beginning of a new era, subject to regulatory approval.
An official statement from the club on Saturday read, “Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Club.
“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. UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.
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“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. More details will be provided at that time.
Roman Abramovich bought Chelsea in 2003, and has invested more than £1 billion ($1.4 billion) in the club. His loans to the club are thought to be around £1.5 billion ($2 billion).
Below is what the club fans are saying on Twitter: