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English Premier League powerhouse Chelsea has received initial approval of sale to Todd Boehly and Clearlake Consortium for $5.32 billion dollars. Boehly is a part owner of the Los Angeles Dodgers, Lakers and Sparks. Boehly will be the controlling offer of Chelsea, who recently finished the league season in third place, qualifying for the Champions league next year.
Chelsea was operated under a British government license after Russian Owner Roman Abramovich had his assets frozen in England because of the Russia war in Ukraine on March 10th. He had owned the club for 19 years. Multiple suitors for the club emerged until the premier league board finally approved the sale today. “The premier league board has today approved the proposed takeover of Chelsea Football Club by Todd Boehly/ Clearlake Consortium. “
The sale is not final yet. There are still government licenses that need to be issued, and the final stages of the deal need to be completed.
Chelsea has been hamstrung since March, with a freeze on both external and internal transfers. Those restrictions will be lifted once the sale is final. Chelsea is now the second most valuable sports team in the world behind the Dallas Cowboys at $5.7 billion. The New York Yankees are third at 5.25 billion.