Chelsea sale to be completed Monday

Chelsea said on Saturday that the sale of the Premier League club to a consortium led by Todd Boehly, the co-owner of baseball’s Los Angeles Dodgers, is expected to be completed by Monday.

The British government and the Premier League have approved the £4.25 billion ($5.3 billion) takeover.

“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,” the club said in a statement.

“It is expected that the transaction will be completed on Monday.”

The consortium is led by Boehly, but California-based private equity firm Clearlake Capital would own a majority of the shares in the club.

Other investors include US billionaire Mark Walter, who is Boehly’s co-owner at the Dodgers, and Swiss billionaire Hansjorg Wyss. – AFP