Chelsea, on Saturday morning, formally confirmed Todd Boehly as the club’s new owner.
The Premier League giants revealed through their website that arrangements have been completed for the new ownership group led by Todd Boehly to buy the West London club.
Following the conclusion of his £3.5 billion deal, Boehly replaced Roman Abramovich as Chelsea’s new owner.
The Raine Group, the US bank in charge of the sale, nominated his group as the preferred bidder for Chelsea.
Chelsea’s statement read in part: “Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter, and Hansjoerg Wyss, to acquire the Club.
“The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.”