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The Wall Street Journal: Group led by L.A. Dodgers part-owner Boehly reportedly reaches deal to buy Premier League club Chelsea F.C.

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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