Chelsea sale news LIVE: LA Dodgers’ Todd Boehly consortium signs £4.25bn agreement to buy club ahead of Wolves match

Chelsea FC are on the verge of a sale, with the club confirming in the early hours of Saturday that a deal had been struck with LA Dodgers co-owner Todd Boehly.

Since Roman Abramovich put the Blues on the market in March there have been dozens of reports, interested parties and bids, with the Boehly bid – which also includes Hansjorg Wyss and Clearlake Capital – ultimately set to complete a deal worth £4.25bn in total. That constitutes £2.5bn to buy the shares of the club, along with a further £1.75bn committed to future spending in several areas including the women’s team, the academy and club infrastructure.

Details are still emerging over the full implications of the bid but a 10-year block on the sale of shares indicates this will be a long-term purchase, while the deal could go through around the end of the current Premier League season. Chelsea are in action on Saturday afternoon, with Thomas Tuchel’s side facing Wolves as they look to secure a top-four finish and a Champions League berth for next term in the process. Follow all the news and reaction to the Chelsea sale, plus team news and live action from Chelsea vs Wolves below:

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Chelsea sale: What happens next after Todd Boehly agrees to pay £4.25bn for club?

US business tycoon Todd Boehly has agreed a £4.25billion deal to buy Chelsea from Roman Abramovich.

Here, the PA news agency looks at the state of play at Stamford Bridge, including how the deal was agreed, what happens next and what might occur if the deal hits any problems before being completed.

What happens next at Chelsea after Boehly agrees to pay £4.25bn for club?

Roman Abramovich’s 19-year ownership of the Premier League side is drawing to a close.

Chelsea sale latest news

Timeline of the Boehly bid:

It hasn’t been smooth or quick to get this sale process done, as you might expect considering the purchase is worth well over £4,000,000,000.

After the club was put up for sale by Abramovich in March, it wasn’t long before a whole pile of interested parties came forward, one of which was of course from Boehly and his group. Here’s a timeline of what they’ve had to go through since being shortlisted

25 March – Boehly and Martin Broughton bids shortlisted by Raine Group as one of up to four leading bidders

31 March – It was announced there was no preferred buyer before a round of ‘final bids’ for the club, with prospective owners invited to meet manager Thomas Tuchel

8 April – Boehly is joined by LA Dodgers partner Mark Walter in the bid to buy the Blues

11 April – Deadline for final bids to buy the club was set for this date and the government declared they were happy with all four remaining offers

16 April – The former Chancellor of the Exchequer George Osbourne was added to the group in an advisory capacity

29 April – After the Ricketts family had removed themselves from the running, a late £4bn offer came from Ineos owner Sir Jim Ratcliffe

1 May – Ratcliffe’s bid was still under consideration but by the start of the month it was clear Boehly’s offer was the big favourite

4 May – Chelsea fans urge a quick completion on any sale with their special licence to continue operating set to expire on 31 May

6 May – Thomas Tuchel reveals he was “confident” over the sale going through quickly after being updated on behind the scenes movement

7 May – Chelsea FC confirm a £4.25bn agreement signed with Todd Boehly’s consortium

Chelsea sale latest news

Where do we begin with all this backstory, then? Let’s go for exactly who the soon-to-be new owner is first, for those who haven’t followed either his sporting businesses in America or the entire chain of events at Stamford Bridge.

A consortium led by the American businessman and investor Todd Boehly has been named as the preferred bidder for the club, which has been put up for sale by Roman Abramovich after the Russian was sanctioned following his country’s invasion of Ukraine. On Friday night/Saturday morning, it emerged that a deal has been signed by the relevant parties and he’s now set to complete the takeover across the coming weeks.

He has teamed up with fellow Los Angeles Dodgers co-owner Mark Walters, British businessman Jonathan Goldstein, Swiss billionaire Hansjorg Wyss and US investment firm Clearlake Capital. The group appears set to beat out three other shortlisted bidders, plus a late offer from Ineos owner Sir Jim Ratcliffe.

Owner of Major League Baseball (MLB) franchise the Dodgers, Boehly graduated from William & Mary university in 1996 and also studied at the London School of Economics.

Here’s everything you need to know about Dodgers, LA Sparks, LA Lakers and DraftKings owner Boehly:

Who is Todd Boehly? Preferred Chelsea bidder and LA Dodgers owner

A consortium led by Boehly is favourite to complete the takeover of Chelsea

Chelsea confirm Todd Boehly consortium has signed £4.25bn agreement to buy club

Chelsea have confirmed Todd Boehly’s consortium has agreed terms to buy the Stamford Bridge club from Roman Abramovich in a £4.25billion deal.

Los Angeles Dodgers co-owner Boehly has won the race to buy the Blues amid the most public major sports franchise takeover in history.

Boehly, Clearlake Capital, Mark Walter and Hansjorg Wyss must now wait for Premier League and UK Government approval before rubber-stamping the takeover.

“Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjorg Wyss, to acquire the club,” a Chelsea statement read.

“Of the total investment being made, £2.5billion 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 per cent 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.

“In addition the proposed new owners will commit £1.75billion in further investment for the benefit of the club.”

For the full report on the club statement, see here:

Chelsea confirm Todd Boehly consortium sign £4.25bn agreement to buy club

The Los Angeles Dodgers co-owner has won the race to buy the Blues amid the most public major sports franchise takeover in history.

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