US investor Todd Boehly has completed his $4.25 billion ($5.4 billion) takeover of Chelsea Football Club from the sanctioned Russian oligarch Roman Abramovich.
These where whittled down to just three, with Boehly beating out competition from rival consortiums led by British businessman Martin Broughton and Bain Capital co-chairman Stephen Pagliuca. There was also a late proposal from British billionaire Jim Ratcliffe.
Boehly’s winning bid is backed by California-based private equity firm Clearlake Capital. It includes a £2.5 billion purchase of shares and £1.75 billion for further investments to benefit the club. The bid was signed off by the EPL and UK government last week.
Read more: BNN Bloomberg
