Chelsea takeover: Todd Boehly signs purchase agreement

07 May 2022 01:41

Todd Boehly's £4bn takeover of Chelsea is nearing completion after signing a purchase agreement on Friday.

The American billionaire now only needs approval of the takeover from the Premier League and UK government in order to complete the long-awaited transaction.

The Telegraph report that Boehly is on track to complete the takeover before the end of the month, with the club's special licence valid until May 31. The signing of the purchase agreement is seen as the 'most significant step' towards Chelsea getting a new owner.

The Premier League are not expected to stand in the way of the transaction so long as Boehly completes an owners' and directors' test.

Reports on Friday revealed that Boehly's consortium would have to agree to 'anti-Glazer' measures which would prevent them from taking money out of the club, and the Telegraph add that they have agreed to these terms.

Chelsea fans had grown concerned over American investment firm Clearlake Capital's role in the bid and that they would be liable to such actions, particularly after reports claimed they would own 60% of club shares with Boehly remaining in control. However, this has never been confirmed by any of the parties involved.

Source: 90min