- Britain's Rightmove rejects higher £6.1-bn Murdoch bid
- Stocks rally stutters but Hong Kong, Shanghai up on new China move
- Cuts, cash, credit: China's latest bid to jumpstart flagging economy
- Hezbollah fires missile at Tel Aviv in Israel
- Zelensky to take UN stage in plea to sustain support
- Leftist Sri Lanka leader stuck with painful IMF deal: analysts
- Cryptocurrency platform boss urges tighter regulation
- 'Crazy' tree planter greening Sao Paulo concrete jungle
- French champagne makers bid to protect seasonal workers from abuse
- Atletico Madrid president splits time between football and film
- Japan ruling party to hold 'toss-up' vote for next PM
- Alcaraz says 'a lot of players' agree after schedule 'kill us' comments
- Outdated rules, limited metro collide for 'unbearable' Athens gridlock
- Ninth body recovered in flood-hit Japan region
- Sirens sound in Tel Aviv after fresh air strikes reported in Lebanon
- China launches intercontinental missile into Pacific in rare test
- The EU vs X: How big could the fines be for Musk?
- Hefty Australian penguin chick 'Pesto' becomes star
- Fashion's fun 'Frankenstein' flies after Olympic triumph
- Volkswagen crisis pits homegrown leaders against each other
- Princess Zelda takes the lead in 'Echoes of Wisdom'
- Astros clinch division title, Yankees kept waiting
- Asian markets boosted again after another Chinese rate cut
- The struggle to keep track of Gaza war deaths
- China cuts another key interest rate to boost economy
- Restarting nuclear power plants: the unprecedented gamble in the US
- US state executes man despite conviction doubts
- Asylum seeker lifts South Korea hopes at Homeless World Cup
- Hostages freed in Gaza truce pine for those left behind
- Pope offers refuge to Myanmar's jailed Suu Kyi: report
- Tragic tale of two West Bank teenagers freed in Gaza truce
- US intel warns of Iran threats to assassinate Trump: campaign
- In election, Hollywood is about cash not endorsements
- UK foreign minister Lammy seeks 'strongest position' for Ukraine
- Macron presses Iran president for Lebanon de-escalation
- UNRWA fears new 'tragedy' as Lebanon violence adds strain: chief to AFP
- Russia mulls ban on 'childless propaganda'
- Blackwater founder probed by Venezuela over anti-Maduro campaign
- Crypto CEO and Bankman-Fried ex Caroline Ellison gets two-year sentence
- Hezbollah announces death of commander after strike on south Beirut
- Tatum hungry for more after breakthrough Celtics success
- Sean 'Diddy' Combs sued for alleged 2001 rape
- Biden pleads for democracy in emotional UN farewell
- New York area port prepares for possible US strike disruption
- Rodri 'irreplaceable' but Guardiola confident Man City will still compete
- Brook 'relieved' as maiden ODI hundred sets up first win as England captain
- Dior's arrows and Amazons as Saint Laurent revives its master
- Mbappe strikes again as Madrid hold off Alaves
- Nkunku hits Chelsea hat-trick, Man City edge into League Cup last 16
- Amnesty calls for commission to probe Kenya protest deaths
Chelsea says Todd Boehly-led group to buy club in $5.2 bn deal
Chelsea FC said a group led by Los Angeles Dodgers co-owner Todd Boehly would acquire the London club after agreeing terms in a deal worth £4.25 billion ($5.2 billion).
"The sale is expected to complete in late May subject to all necessary regulatory approvals," the football club said in a statement late Friday.
"More details will be provided at that time," it added.
Chelsea's Russian owner Roman Abramovich put the Premier League club on the market in March, just days before he was sanctioned by the British government following the invasion of Ukraine.
After a lengthy bidding process involving several groups, Boehly and his fellow investors were picked by Raine Group, the New York bank overseeing the Blues' sale.
Boehly's group of investors includes fellow Dodgers co-owner Mark Walter, Swiss billionaire Hansjoerg Wyss and US investment firm Clearlake Capital.
"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 Chelsea statement said.
"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 percent to charitable causes as confirmed by Roman Abramovich," it said.
"UK government approval will be required for the proceeds to be transferred from the frozen UK bank account."
In addition, the new owners would commit £1.75 billion in further investment for the benefit of the club, Chelsea said.
- Proceeds to victims of Ukraine war -
Chelsea were forced to operate under a special licence from the government after Abramovich was sanctioned by Britain and the European Union for his links to Russian President Vladimir Putin.
Abramovich cannot profit from Chelsea's sale, but had already vowed to write off the club's £1.5 billion debt and that all proceeds from the sale would go to victims of the war in Ukraine.
There had been fears over the future of the club if a sale was not finalised before the licence runs out on May 31.
Under the terms of the licence, Chelsea were unable to offer new contracts to existing players or sign players from other clubs.
The sale of the European champions brings the curtain down on 19 years of nearly unbroken success under the 55-year-old Abramovich, who has overseen five Premier League titles and two Champions League triumphs.
After initially embarking on a long winning run following Abramovich's decision to sell the club, Chelsea have struggled to find their best form recently.
They suffered a painful Champions League quarter-final defeat at Real Madrid after nearly pulling off an epic comeback from a 3-1 first leg deficit.
Chelsea's place in the Premier League's top four is also far from guaranteed.
N.Fournier--BTB