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AP National Business

Chelsea being sold for $3BN to LA Dodgers owners, investors

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Published 2:27 AM

By ROB HARRIS
AP Global Soccer Writer

LONDON (AP) — Chelsea is being sold to a consortium fronted by American sports investor Todd Boehly. It will end the 19 years of ownership and lavish investment by Roman Abramovich until the Russian oligarch was sanctioned and forced to offload the Premier League club. The sale price of 2.5 billion pounds ($3.1 billion) is the most lucrative-ever for a sports team worldwide but Abramovich cannot receive the proceeds, which he hopes will go to a foundation for the victims of the war in Ukraine. Chelsea said that terms for the buyout had been agreed with a consortium which also features Mark Walter, who is also part of the Dodgers group, Swiss billionaire Hansjorg Wyss and funding from private equity firm Clearlake Capital.

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