Todd Boehly to become new Chelsea owner after winning takeover race

The club is one step closer to discover its new owner after a Boehly-led consortium has been chosen as the preferred bidder.

Todd Boehly could become Chelsea’s new owner after leading a group of investors to victory in the race to purchase the club.

Boehly, who is the co-owner of the LA Dodgers, sees his bid backed by a private equity firm named Clearlake Capital.
Following a long-running bidding war between several investors, it seems the Boehly-led consortium have secured the ownership of Chelsea.

Other interested parties, including Jim Ratcliffe, still have a chance to win out. However, English sources believe it’s highly unlikely that another investor can prevent Boehly from taking over Chelsea.

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Ratcliffe confirmed a late offer of £4.25bn on Friday, but it was not enough to stop Boehly’s reported bid of £3.5bn to win the race.

It seems that Ratcliffe’s offer has violated the deadlines set by Raine bank, who are overseeing the sale process from Roman Abramovich.

According to Daily Telegraph, Chelsea are preparing to advance Boehly’s bid for approval by the UK government. The American businessman will reportedly have five days to sign the required documents for a full takeover.

Chelsea will see a new owner as Abramovich’s era at Stamford Bridge ends. The Russian oligarch, who took over the Blues in 2003, is selling the club amid sanctions from the UK government.