SportsDay
SPORTS UPDATE

Todd Boehly wins race to buy Chelsea

A consortium headed by Todd Boehly has won the race to buy Chelsea, edging out a late bid from Sir Jim Ratcliffe.

On a day of several developments, the consortiums led by by Sir Martin Broughton and Stephen Pagliuca were said to have been informed by US merchant bank Raine Group that they would not be put forward as the preferred bidder.

At the time, it appeared that Boehly would progress unopposed, but British businessman Ratcliffe revealed on Friday afternoon that he was prepared to pay £4.25bn – by far the biggest proposal on the table – to get a deal over the line.

However, according to multiple outlets including BBC Sport and The Telegraph, Boehly will be recommended as the leading candidate.

Boehly will now seemingly be put forward for government approval, while there is due to be a period of exclusivity in an effort to push through a deal as soon as possible.

The American, 46, is the current interim CEO of the Hollywood Foreign Press Association while he owns 20% of the Los Angeles Dodgers of the NBA. His group were one of the four consortiums who were shortlisted – and now it appears that they have made it in their push of obtaining the club.

As it stands, Chelsea are unable to function as normal, including on the footballing side where players cannot be bought, sold or have contracts renegotiated.

Roman Abramovich put Chelsea up for sale last month following UK sanctions imposed on the Russian oligarch amid Russia’s invasion of Ukraine.

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