EPL: Chelsea releases statement confirming Todd Boehly as new owner

Chelsea on Saturday morning confirmed that the takeover of the club has been agreed by a group led by US businessman Todd Boehly.

The formalities are expected to be completed on Monday.

The sale of the Premier League club comes after a 12-week saga and with four days left before the expiration of the government’s operating licence.

On Tuesday night, the Premier League and the UK government gave the go-ahead for the Boehly group, which will be predominantly financed by the Clearlake Capital investment firm, to replace sanctioned Russian oligarch Roman Abramovich.

Authorities in Portugal, where Abramovich holds citizenship, gave the green light early Thursday morning and now the club have finally confirmed that the £4.25 billlion deal has been finalised.

A statement on the club’s official website reads: “Chelsea Football Club can confirm that a final and definitive agreement was entered into last night to sell the Club to the Todd Boehly/Clearlake Capital consortium. It is expected that the transaction will be completed on Monday. The Club will update further at that time.”