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

London, Chelsea will be sold to a consortium fronted by Los Angeles Dodgers part-owner Todd Boehly, reports AP.

The sale price of 2.5 billion pounds ($3.1 billion) for the reigning Club World Cup winner and 2021 European champion is the most lucrative ever for a sports team worldwide.

A further 1.75 billion pounds ($2.2 billion) has been committed to invest in Chelsea’s teams and stadiums.

After several rival bids were rejected, Chelsea said on Saturday that buyout terms were agreed with a consortium that features Boehly along with Dodgers principal owner Mark Walter, Swiss billionaire Hansjorg Wyss and funding from private equity firm Clearlake Capital.

Source: Bahrain News Agency