07/06/2022
Todd Boley attended Chelsea’s Premier League match against Watford on May 22

The £4.25 billion sale of Chelsea to a consortium led by US investor Todd Boehle has been completed.

The club was put up for sale in March before former owner Roman Abramovich was penalized for his ties to Russian President Vladimir Putin.

Chelsea was operating under a special government license that was to expire on May 31.

In a statement, Buhle said he was “honoured” and “wanted to make fans proud”.

His union beat out 11 serious competitors to become the new owners in a sale that began on March 2 and included more than 250 applications.

“We are honored to become the new goalkeepers for Chelsea Football Club,” he said.

“We are 100% in every minute of every match. Our vision as owners is clear: we want to make the fans proud.

“Alongside our commitment to developing the youth team and hiring the best talent, our business plan is to invest in the club for the long term and build on Chelsea’s impressive track record.

“I would like to personally thank ministers and officials in the UK government and the Premier League for all their work to make this happen.”

The UK government – which said last Wednesday it might authorize the sale of the club – does not want Abramovich to receive any proceeds from the sale, which will instead go to a frozen bank account to be donated to charities supporting war victims. in Ukraine.

Who are the new Chelsea owners?

Several parties expressed interest, but Chelsea agreed to sell to a Boehly-led consortium in early May, with California private equity firm Clearlake Capital holding a majority stake in its first foray into the sport.

Boehly, 48, is also a co-owner of the seven-time LA Dodgers world baseball team, the Los Angeles Sparks women’s basketball team and the NBA franchise of the Los Angeles Lakers.

He has also invested in the rights to Bruce Springsteen’s song, a sports betting company and restaurant chain.

Other investors include American billionaire Mark Walter, co-owner of L.A. Dodgers with a stake in Lakers such as Boehly, and Swiss billionaire Hansjorg Wyss.

the end of the era

Abramovich bought Chelsea in 2003 for £140 million.

Under his ownership, the club won all major titles – the Champions League twice, five Premier Leagues, five FA Cups, two European Leagues and three Champions League cups.

They won the European Super Cup in August 2021 and the Club World Cup for the first time in February.

Abramovich has appointed 13 managers and the club has spent more than £2 billion in the transfer market under his ownership.

The Chelsea women’s team, which joined Chelsea FC in 2004, has won five Women’s Premier League titles and four FA Cups under Abramovich.

When an agreement was reached on the sale, he said: “As I hand Chelsea over to their new hosts, I would like to wish them every success on and off the pitch.

“It has been a great honor to be part of this club – I would like to thank all the players, past and present staff and of course the club’s fans for these wonderful years.”

Chelsea sale – the defining moments

February 24: Russia invades Ukraine

February 26: Abramovich Gives ‘direction and care’ From the association to a charitable foundation

March 2: Abramovich He says he plans to sell the club

March 10: British government Abramovich punished

May 5: Abramovich He denies that he asked The £1.5 billion loan he made to Chelsea will be repaid

May 7: Bohli He agrees to a £4.25 billion deal for the club

May 16: A government insider says: The deal is about to collapse

May 24: Premier League agree to the acquisition

25. May: Government agree to the acquisition

May 28: Final agreement reached With a consortium led by Boehly

May 30: Sale completed

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