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Chelsea sold to group fronted by Dodgers part owner for $5.24B U.S.

LONDON — Chelsea is being sold to a consortium fronted by American sports investor Todd Boehly, ending 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 deal is worth a total of 4.25 billion pounds ($5.24 billion U.S.). “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 said early Saturday. “Of the total investment being made, £2.5 billion ($3.084 billion) 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% to charitable causes as confirmed by Roman Abramovich,” the Chelsea statement said. “In addition the proposed new owners will commit £1.75 billion ($2.159 billion) in further investment for the benefit of the club. This inclu...