Todd Boehly was spotted at Stamford Bridge on Friday evening after signing an agreement to buy Chelsea.
The Blues have confirmed the US businessman's consortium have put pen to paper on an agreement to acquire the club. Boehly's team include fellow businessmen Mark Walter and Hansjoerg Wyss, as well as American investment firm Clearlake Capital.
Boehly, who is a co-owner of baseball team LA Dodgers, posed for a photo with Chelsea fans at Stamford Bridge after completing the deal. "Can confirm that Todd Boehly is at the Bridge... can also confirm that he is an absolute gent!" tweeted Blues fan Darren Lavery.
Chelsea were put up for sale by current owner Roman Abramovich in March, just days before he was sanctioned by the UK government for allegedly having ties with Russian president Vladimir Putin - something the oligarch denies.
Putin's Russia are currently waging a violent and unprovoked war in neighbouring Ukraine, causing a humanitarian crisis in Europe. Abramovich is part of the peace process and has pledged to donate proceeds from the Chelsea sale to help victims of the conflict.
Friday evening's news is the biggest step of the sale process to date. It is a commitment that transfers the shares of the seller to the buyer, setting a date of completion. The deal, worth more than £4billion, is expected to be completed before the end of May.
Will Chelsea continue to challenge for the biggest trophies? Let us know in the comments below!
Boehly's successful bid almost concludes a gruelling two-month battle for Chelsea's heart. Various bidders have tried to complete a takeover of the Blues, yet Boehly - who first tried to buy the club in 2019 - appears to have won the contest.
The American was recently named as the preferred bidder by the Raine Group, the investment bank who are brokering the deal on Abramovich's behalf. He will now need to pass the Premier League's owners' and directors' test, which isn't expected to be a problem.
Boehly's bid will also need to be approved by the UK government due to the sanctions imposed on Abramovich. Chelsea are currently operating under a special license, which expires on May 31. Again, they aren't expected to stand in Boehly's way.
Friday evening's news will be a relief to fans, as Chelsea faced the growing threat of potentially going out of business if a buyer wasn't agreed this month. The club's special license severely limits their revenue streams and it would be unsustainable over a long period of time.
"Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100% to charitable causes as confirmed by Roman Abramovich," read a Chelsea statement. "UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.
"In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation. The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time."
