Roman Abramovich sale of Premier League giants to consortium led by Todd Boehly and Clearlake Capital confirmed May 30, 2022 – Posted in: Soccer

Chelsea’s takeover process has officially been completed, with sale of the club from Roman Abramovich to a consortium led by Todd Boehly and Clearlake Capital now confirmed.

The Blues’ future was thrown into doubt after sanctions were placed on now-former owner Abramovich by the UK government in March amid Russia’s invasion of Ukraine.

Boehly (right) has been given the keys to Stamford Bridge

Abramovich, the Russian-Israeli billionaire who bought Chelsea in 2003, was allowed to sell the club as long as none of the proceeds went to him.

It is understood the consortium led by Boehly, the LA Dodgers co-owner, and Clearlake Capital have acquired the club for £4.25billion.

The consortium also includes Hansjörg Wyss, founder of the Wyss Foundation, and Mark Walter, co-founder and CEO of Guggenheim Capital

The UK government have recieved assurances the funds will go to support victims of the war in Ukraine, while around £1.5billion worth of debt was written off by Abramovich.

“We are honoured to become the new custodians of Chelsea Football Club,” said American billionaire Boehly.

“We’re all in – 100% — 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.

“I personally want to thank ministers and officials in the British government, and the Premier League, for all their work in making this happen.”

More to follow…

Source link –