English Premier League team Chelsea Football Club will be acquired by a consortium led by American billionnaire Los Angeles Dodgers part-owner Todd Boehly. The deal is reportedly worth 4.25 billion pounds ($5.2 billion). "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," the statement said. "The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time."
Chelsea Football Club’s Russian owner Roman Abramovich was looking to sell the club he bought in 2003 after pressure mounted on him for his proximity to Russian President Vladimir Putin, who ordered the invasion of Ukraine.
Since he bought the club in 2003, Abramovich has been keenly involved in the running of the club, including the appointment and sacking of managers and the purchase of big players. It has led to a trophy-laden spell not witnessed before in the club’s history. In the process, the club now owes him up to £1.5 billion worth in loans.
Ever since Putin ordered the invasion of Ukraine, governments and global bodies have imposed numerous sanctions on Russian individuals and organisations. In England, Abramovich has been in the eye of the storm.