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Todd Boehly completes £4.25bn takeover of Chelsea football club as Roman Abramovich era ends

Todd Boehly completes £4.25bn takeover of Chelsea football club as Roman Abramovich era ends (Updated: Tuesday, 31st May 2022, 03:19 AM)


The Todd Boehly-led consortium have completed a £4.25bn takeover of Chelsea, ending Roman Abramovich's 19-year ownership of the club.

 

This comes two days after it was confirmed that a "final and definitive agreement" had been reached on the sale of Chelsea to the Boehly-led consortium."

 

The new owners said they are "committed to investing in key areas that will extend and enhance Chelsea's competitiveness.

 

Including the redevelopment of Stamford Bridge, further investment in the academy, the women's team and Kingsmeadow stadium," adding they will "continue the important work of the Chelsea Foundation".

 

Boehly set out his consortium's vision in a statement on Chelsea's website, saying:

 

"We are honoured to become the new custodians of Chelsea Football Club. We're all in - 100 per cent - every minute of every match.

 

"Our vision as owners is clear: We want to make the fans proud. Along with our commitment to developing the youth squad and acquiring the best talent.

 

 our plan of action is to invest in the club for the long-term and build on Chelsea's remarkable history of success."

Boehly added: "I personally want to thank ministers and officials in the British government, and the Premier League, for all their work in making this happen."

 

Russian-Israeli billionaire, Abramovich put Chelsea, which he purchased in 2003, up for sale on March 2, a week after Vladimir Putin's invasion of Ukraine on February 24.

 

Los Angeles Dodgers co-owner Boehly is now Chelsea's controlling owner despite California investment firm, Clearlake Capital assumed as the majority shareholder.

 

A statement from the new owners said Boehly and Clearlake will "share joint control and equal governance of the club", while "Boehly will serve as chairman of the holding company".

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