LONDON—Chelsea will be sold to a consortium fronted by Los Angeles Dodgers part-owner Todd Boehly, ending 19 years of ownership and lavish investment by Roman Abramovich until the Russian oligarch was sanctioned and forced to offload the Premier League club over the war in Ukraine.
The sale price of 2.5 billion pounds ($3.1 billion) for the reigning FIFA Club World Cup winners and 2021 European champions is the most lucrative-ever for a sports team worldwide but Abramovich cannot receive the proceeds, which he hopes will go to a foundation for the victims of the war. A further 1.75 billion pounds ($2.2 billion) has been committed to invest in Chelsea’s teams and stadiums after two months of rapid negotiations to sell the west London club since Russia invaded Ukraine.
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