Todd Boehly 'signs purchase agreement' to buy Chelsea

Bid needs approval from the Premier League and government

Roman Abramovich said he has no plans to keep any of the proceeds from Chelsea's sale, or seek to have any loans repaid. AFP

The attempt to find a buyer for Chelsea is moving forward with a consortium led by Todd Boehly in the driving seat.

Boehly has signed a purchase agreement to buy Chelsea, the UK's Press Association reported early on Saturday.

The Los Angeles Dodgers co-owner's consortium bid for the Blues will now be put forward for approval by the government and the Premier League, after sanctions were slapped on Chelsea’s owner, the Russian billionaire businessman Roman Abramovich.

The Eldridge Industries chief executive was in London on Friday, and expected to attend Chelsea's Premier League game with Wolves at Stamford Bridge on Saturday.

Boehly leads the consortium bid, but US investment firm Clearlake Capital investment is expected to hold the majority stake.

The Boehly consortium is understood to have agreed to clauses that block the payment of dividends or management fees until 2032, also barring the sale of any Chelsea shares for 10 years.

Todd Boehly leads the group hoping to buy Chelsea. AFP

The signed purchase agreement represents a major step forward in the Chelsea takeover, that has moved on apace since March 2 when Mr Abramovich put the club up for sale, amid Russia's invasion of Ukraine.

The developments came after a statement from Mr Abramovich saying he has no plans to keep any of the proceeds from Chelsea's sale, or seek to have any loans repaid.

Mr Abramovich said he expects the loan to be frozen on completion of Chelsea's sale, with Mr Boehly's bid now moving ever closer to success.

The government must issue a new licence as the final part of Chelsea's sale, after Mr Abramovich was sanctioned by Downing Street on March 10.

1) League Cup, February 2005: Chelsea won their first trophy under Roman Abramovich by defeating Liverpool 3-2 after extra time in the 2003 League Cup final. John Arne Riise scored early for Liverpool before a Steven Gerrard own goal sent the game into extra time. Didier Drogba and Mateja Kezman made it 3-1 to Chelsea and Antonio Nunez pulled one back for Liverpool. The Abramovich era had begun. AFP

2) Premier League, 2004/05: Jose Mourinho lived up to his self-appointed 'Special One' tag by guiding Chelsea to their first Premier League title and first top-flight title in 50 years. The Blues marched away with the league, finishing 12 points clear and losing just once. AFP

3) Premier League 2005/06: Back-to-back titles for the Blues who were once again head and shoulders above their rivals, finishing eight points ahead of runners-up Manchester United. Getty Images

4) League Cup, February 2007: Trophy No 4 was delivered at the Millennium Stadium in Cardiff, where Chelsea beat Arsenal 2-1 in the final. Theo Walcott put the Gunners in front but a Drogba double ensured the Blues emerged victorious. AFP

5) FA Cup, May 2007: Chelsea missed out on the league title but finished the season with the Cup double, beating Manchester United 1-0 after extra time, courtesy of another Drogba goal. AFP

6) FA Cup, May 2009: Interim manager Guus Hiddink left his mark on Chelsea by guiding the club to an FA Cup triumph. After falling behind to a first-minute Louis Saha goal, Chelsea fought back through Drogba and Frank Lampard to defeat Everton 2-1. AFP

7) Premier League, 2009/2010: After three years without a league title, Chelsea came roaring back to win the 2010 trophy. Following the dogged and pragmatic style under Mourinho, Carlo Ancelotti got the team playing with flair as the Blues scored 103 goals and won the title by one point ahead of Manchester United. AFP

8) FA Cup, May 2010: Chelsea successfully defended the FA Cup with a 1-0 win over Portsmouth. No prizes for guessing the matchwinner as Drogba struck to secure the double. AFP

9) FA Cup, May 2012: After the ill-fated spell of Andre Villas-Boas, former Chelsea midfielder Roberto Di Matteo came in to steady the ship. Steady the ship he did as Chelsea beat Liverpool 2-1 in the FA Cup final. Ramires and Drogba scored Chelsea's goals before Andy Carroll pulled one back for Liverpool. AFP

10) Uefa Champions League, May 2012: The 10th trophy under Abramovich and the one the Russian craved above all others. Chelsea were crowned European champions in improbable style, riding their luck to defeat Bayern Munich on penalties inside the German club's own stadium. Drogba's header levelled five minutes after Thomas Muller had put Bayern in the lead to force extra time, where Arjen Robben then missed a penalty. It was then left to the main man Drogba to seal it from the penalty spot. AFP

11) Uefa Europa League, May 2013: A disappointing Champions League campaign saw Chelsea drop into the Europa League, but the Blues made their superiority count in Europe's second-tier tournament. Fernando Torres gave Chelsea the lead in the final, before Oscar Cardozo equalised from the spot. Branislav Ivanovic secured the trophy with the winner in injury time. AFP

12) League Cup, March 2015: The return of Mourinho brought with it more domestic success, starting with a third League Cup under Abramovich. Chelsea claimed a 2-0 victory over Tottenham in the final, John Terry and Diego Costa with the goals. AFP

13) Premier League, 2014/15: Mourinho secured a double as Chelsea won their first league title in five years. It was a convincing season for the Blues, who finished eight points clear of runners-up Manchester City. AFP

14) Premier League, 2016/17: Antonio Conte announced himself to English football with a remarkable debut season as Chelsea manager, guiding the club to the title and a then record 30 league wins. The Blues were seven points clear of second-placed Tottenham. AFP

15) FA Cup, May 2018: Two seasons, two trophies for Conte as Chelsea defeated Manchester United 1-0 in the FA Cup final, Eden Hazard scoring the only goal of the game from the penalty spot. It proved Conte's last game in charge. AFP

16) Uefa Europa League, 2018/19: Maurizio Sarri's brief time in charge is not remembered all that fondly but the Italian did deliver silverware with an emphatic 4-1 win over rivals Arsenal in the final after goals from Olivier Giroud, Pedro and a Hazard double. Alex Iwobi grabbed a consolation for Arsenal. AFP

17) Uefa Champions League, May 2021: Thomas Tuchel wrote his name into Chelsea folklore by guiding the club to the Champions League title just five months after taking charge. Kai Havertz scored the only goal of the game against a much-favoured Manchester City side. AFP

18) Fifa Club World Cup, February 2022: As part of the privilege of being European champions, Chelsea competed in the Club World Cup in Abu Dhabi last month. The Blues lived up to their billing, defeating Palmeiras 2-1 after extra time in the final. Romelu Lukaku put Chelsea ahead only for Raphael Veiga to level from the spot. Havertz then converted a penalty deep in extra time to clinch it. If being crowned world champions proves to be the final achievement of Abramovich's era, it is a fitting tribute. AFP

Chelsea's sale has a deadline of May 31, when the government's temporary licence for the Blues expires.

Sir Jim Ratcliffe, Britain's richest man, tabled a last-ditch bid to buy Chelsea last week, just as New York merchant bank Raine Group was preparing to confirm Mr Boehly's consortium as the preferred bidder.

Chelsea manager Thomas Tuchel said on Friday he was “confident” the Blues were closing in on a sale of the club.

“I've been told last week that we have a preferred bidder and things are going forward,” said Mr Tuchel.

“It's a pretty important week for the club, but I was fully focused on the pitch. But after what I heard last week I'm confident.”