On Saturday morning, Chelsea FC officially confirmed Todd Boehly-led group as the club’s new owner.

The football club in a statement on Saturday also revealed that the sale of the club is expected to complete in late May subject to all necessary regulatory approvals.

Noting that, the new owners would commit £1.75 billion in further investment for the benefit of the club, Chelsea said: “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.

“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.