Chelsea confirm takeover will be completed by Monday

Published 10:12 28 May 2022 BST

Updated 10:35 28 May 2022 BST

Danny Jones

Chelsea confirm takeover will be completed by Monday

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A new era of ownership begins next week

Chelsea have announced that the official takeover bid made by American businessman Todd Boehly and the Clearlake consortium is set to be completed by Monday. Releasing an official statement on Saturday morning, the London club informed its fan base that “a final and definitive agreement” was reached on Friday night. https://twitter.com/ChelseaFC/status/1530458872653271042?s=20&t=mMkwvliLgeaVEbYDEU6Egw The sale was said to have been nearing completion earlier this week after the UK government agreed to allow for the estimated £4.25bn takeover. Now it seems the Ts have been crossed and the Is dotted. Boehly, a part-owner of the LA Dodgers baseball team, was one of many suitors interested in the club, with English entrepreneur Jim Ratcliffe also in the running for some time. The latter had reportedly entertained the likes of Newcastle and Manchers United in the past to no avail, so how serious his approach remains unclear. [caption id="attachment_338723" align="alignnone" width="1024"]

Credit: Getty - Boehly walks around Stamford Bridge on the final game of the 21/22 season[/caption] Nevertheless, with the help of his private equity firm, Clearlake Capital, Boehly has now gotten a deal over the line and is set to take over the reins next week. While Clearlake's portfolio predominantly consists of assets in software, technology and energy sectors, as well as industrial, food and consumer service, it has previously held investments in Primesport - a company which provides VIP access and exclusive packages to those attending the world's biggest sporting events. Completing the transaction on Monday will mean that the takeover will have been completed just one day before Chelsea FC's government operating license on was due to expire on May 31. Talk about the eleventh hour.