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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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Domestic worker sues Pitso Mosimane, wife following debilitating injuries

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Former Mamelodi Sundowns of South Africa and Al Ahli of Egypt coach, Pitso Mosimane, and his wife, Moira Tlhagale, have been sued by their domestic worker after a severe injury at the home of the couple led to disabilities.

The domestic worker, domestic worker Dorothy Sikirivao, filed the lawsuit against Mosimane who is the current head coach of Abha Club of Saudi Arabia, claiming the sum of R5.7-million at the Johannesburg High Court after suffering from severe injuries he sustained in a mishap at the couple’s residence in April 2021.

According to reports by Sunday World, Sikirivao had a serious fall at the Mosimane’s home while clearing debris, with the accident allegedly leaving her with “catastrophic spine-related injuries, leading to a significant reduction in her mobility and affecting her reproductive health.”

The reports stated that medical specialists diagnosed Sikirivao with multiple injuries, including blood clots in the brain, shoulder dislocation, various bone fractures, and severe pressure on the spinal cord.

“The domestic worker claims the injuries were exacerbated by the demanding nature of her duties and the couple’s insistence that she return to work soon after the accident,” the tabloid wrote, quoting Sikirivao legal documents

“This was because of the tedious nature of the work she did and the potential of aggravating the injuries. The injuries she sustained from the said accident were of such a nature that exacting physical labor will aggravate them.”

The documents explained that initially, Mosimane and Tlhagale covered Sikirivao’s medical expenses but reportedly ceased payments without explanation.

“Despite being granted a month of sick leave following the incident, Sikirivao alleges she was coerced into resuming work, which worsened her condition.

“The plaintiff, post the said accident, was also prognosed to be in a situation where the plaintiff may never be able to carry a pregnancy and fulfil her desire to have her biological children except through an expensive and legally cumbersome process of surrogacy.

“Furthermore, she may face ongoing health complications due to the accident. The compensation Sikirivao seeks includes R1.7-million for loss of income, R2-million for past and future medical expenses, and R2-million divided equally for the loss of amenities of life and for pain and suffering,” the legal documents added.

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Zambian FA boss, Gen.Sec arrested over alleged laundering of K341,902

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President of the Football Association of Zambia (FAZ), Andrew Kamanga, has been arrested along with the Secretary-General and two other persons over an alleged money laundering running into K341,902.

The country’s Drug Enforcement Commission (DEC), which made the arrest, said in a statement on Tuesday through its Assistant Public Relations Officer, Sydney Katongo, that Kamanga was jointly charged with FAZ General-Secretary, Reuben Kamanga.

Katongo named the other individuals arrested as Madalitso Kamanga and Jailous Siame, residing in Woodlands Chalala and Mumbwa Road respectively, and will be jointly charged on several offenses including obtaining money by false pretenses.

The DEC spokesman said other offenses were obtaining pecuniary advantage by false pretense and conspiracy to defraud government.

“DEC investigations revealed that the suspects while acting together, obtained K341, 902.00 from the Government of the Republic of Zambia under false pretenses,” Katongo said in the statement.

He stated that money was purportedly allocated as allowances for Madalitso Kamanga and Jairous Siame to attend the 2023 Africa Cup of Nations (AFCON), however, the allowances were transferred into their personal accounts with Madalitso and Jairous getting K170, 951, while they also individually obtained return tickets valued at K99,980.

“It was discovered that the funds were disbursed to two individuals under the guise of being FAZ officials, necessitating their attendance with the advance party for AFCON,” Katongo said.

He added that investigations revealed that neither Madalitso nor Jairous held official or executive positions within FAZ.

“This fraudulent activity transpired between January, 1 and February, 15, 2024, coinciding with the dates of the Africa Cup of Nations held in Ivory Coast from January, 13, to February, 11, 2024.

“The suspects are currently finalising bond processes and will appear in court soon. The DEC underscores its unwavering commitment to combating money laundering offenses within Zambia,” Katongo assured.

“The Commission will continue to investigate and prosecute individuals involved in money laundering schemes, ensuring accountability and justice for all,” Katongo added.

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