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American billionaire, Todd Boehly, agrees deal to buy Chelsea Football Club for £2.5bn

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English Premier League club, Chelsea, on Friday, confirmed that the club has agreed terms with a consortium led by American billionaire Todd Boehly, to takeover from embattled Russian oligarch, Roman Abramovich, for a fee in the region of £2.5 billion.

A statement on the club’s website confirming the agreement, said complete takeover of the club by the Boehly consortium Is expected to be completed by the end of May “subject to all necessary regulatory approvals” by the UK government.

“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,” the statement said.

“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% to charitable causes as confirmed by Roman Abramovich.

“UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.

“In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation.

“The sale is expected to be completed in late May subject to all necessary regulatory approvals. More details will be provided at that time.”

The American businessman, investor, and philanthropist who is the co-founder, Chairman and Chief Executive Officer of Eldridge Industries, a holding company based in Greenwich, Connecticut, USA, also owns stakes in the MLB’s Los Angeles Dodgers, the NBA’s Los Angeles Lakers and the WNBA’s Los Angeles Sparks.

The club’s embattled current owner Abramovich, who is subject to sanctions by the British government and has seen his assets frozen by the government, had put the club up for sale in early March following the Russian invasion of Ukraine, saying at the time it was “in the best interest of the Club.”

The announcement of the Boehly deal comes with just over three weeks remaining on the club’s current operating licence, which expires on May 31.

Among those who had previously expressed interest in buying the club included British billionaire Jim Ratcliffe and groups led by Boston Celtics co-owner Stephen Pagliuca and former British Airways chairman Martin Broughton, and a consortium led by Chicago Cubs owners the Rickets family.

Boehly’s interest in the current European champions is not new; in 2019, he had made a £2.2b bid to buy the Blues from Abramovich, an offer that was swiftly rejected.

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Former President of Moroccan club Raja sentenced to 3 years in prison

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The former President of Moroccan top club, Raja Casablanca, Mohamed Aouzal, has been sentenced to three and a half years in prison after he was found guilty of fraud by a Casablanca Ain Sebaa Court of First Instance on Friday.

According to court documents, the case involved charges of breach of trust and issuing a bounced check in connection with his role in the insurance sector.

Other charges against Aouzal included financial misconduct, specifically breach of trust and issuing a check without sufficient funds.

The documents stated that the legal action against Aouzal stemmed from a lawsuit filed by an insurance company and was found guilty of owing the company nearly MAD 400 million (around $40 million) as the legal representative of an insurance brokerage firm.

In addition to the prison sentence, the court also imposed a fine of MAD 20 million (approximately $2 million) in favor of the plaintiff company.

Aouzal was arrested following investigations by Morocco’s National Judicial Police Brigade after which he was charged before the Public Prosecutor at the Ain Sebaa Court and was placed in custody at Oukacha Prison.

The lawsuit, according to Morocco World News, pointed to significant financial irregularities in Aouzal’s brokerage firm, alleging that it failed to meet its financial obligations and caused substantial losses for the insurance company.

“The trial began on December 10 after Aouzal’s initial court appearance. The court examined the evidence and heard extensive arguments before entering deliberations earlier this week.

“On Friday, the judge ruled in favor of the insurance company due to the significant monetary damages incurred,” the report said.

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Dumping England for Nigeria the best decision of my life— Ademola Lookman

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Current African Men’s Footballer of the Year, Ademola Lookman, has attributed his rise in the football echelon to his decision to dump the English national team, The Three Lions, to play for the Super Eagles of Nigeria.

The Atalanta striker, who was named the African Player of the Year after a sterling 2024 season where he kept putting up superb performances for both club and country, credited the success of his career to his decision to snub England and commit to Nigeria.

“I think ever since I put on the Super Eagles jersey, it’s been fruitful,” Lookman said in an interview on SportyTV.

“We’ve been able to achieve a lot as a team and we’re still going as a team. But the camaraderie is something that’s very special within the squad.

“It is an incredible achievement and an incredible moment. It is special to join a list of many great players who have achieved a lot in the game. They are legends.

“There have been many special moments this year, and I can speak about a lot of good ones. But also the tough moments, like when you don’t feel like hitting the gym, but you push through and end up doing that session—it gives you more strength. Those difficult moments have given me that extra strength,” he said.

The Atalanta forward believes that his decision to represent Nigeria has contributed to a significant personal and professional growth, allowing him to continue thriving with the national team.

Before switching allegiance to play for the Super Eagles in 2022, Lookman had represented England at youth level, including winning the U-20 World Cup in 2017 but he had a stop-start career with stints at Everton, Fulham, and Leicester City, before he was shipped to Atalanta, initially on loan, before the move was made permanent.

But the turning point in Lookman’s career came when he decided to switch allegiance to Nigeria and has never looked back as everything he touched turned to gold.

The London-born Lookman made his Super Eagles debut in March 2022 against Ghana, and he has since described this moment as a turning point in his career.

He has scored eight goals and provided four assists and was the star man at the 2023 AFCON tournament where he netted three goals and registered one assist, and was named in the tournament team.

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