The London club, Chelsea Football Club is just about to change hands from a Russian billionaire to an American billionaire. In a statement put on the club's website, Chelsea confirmed that the consortium led by Todd Boehly. Others included in the consortium are; Hansjoerg Wyss, Mark Walter, and Clearlake Capital. Boehly had made an attempt in 2019 to buy the club for $ 3billion, an offer that was outrightly rejected by the sanctioned owner, Roman Abramovich. 

The complete transfer of ownership of the club is set to be completed before 31st May. The Todd Boehly consortium is set to invest £2.5bn to purchase shares at the club and the proceeds will be deposited into a frozen UK bank account with the intention of channeling 100% of the money to charity specifically to the victims of war in Ukraine. UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account. £1.75bn will further be committed by the new owners to benefit the club. This will include investments in the club academy, the Stamford Bridge Stadium, and the Chelsea Women's team. 

Mr. Boehly has got vast interests in the sports industry and Chelsea is not the first club he is investing in. He is a co-owner of the Los Angeles Dodgers, an American baseball club. He also partly owns a California-based basketball club, Los Angeles Sparks.