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A group led by Los Angeles Dodgers part-owner Todd Boehly reached a deal to acquire Chelsea Football Club from Russian billionaire Roman Abramovich for more than £4 billion, equivalent to $4.93 billion, according to people familiar with the matter, marking a record sale price for a professional sports team.
The deal still needs approval from the U.K. government. It follows a roughly two-month auction process that attracted a who’s who of American bidders seeking to acquire the marquee sports brand.
The Wall Street Journal reported a week ago that the Boehly group beat out two other U.S.-led groups for the right to negotiate a final deal.
An expanded version of this report appears at WSJ.com.
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