Chelsea officially confirm £4.25 BILLION takeover by Todd Boehly after beating 250 other rivals to win bid
TODD BOEHLY’S era as owner of Chelsea has officially begun after he beat 250 bidders to the purchase of the club.
The Blues have confirmed the consortium fronted by the 46-year-old American has assumed control of the club.
Roman Abramovich’s 19-year association with Chelsea has finally come to an end after he decided to sell earlier this year following sanctions placed upon him amid Russia’s invasion of Ukraine.
Boehly’s £4.25bn bid was approved by the Premier League and UK Government last week, and the deal has now been rubber-stamped.
The European Union have given the takeover the go-ahead after fears Abramovich’s Portuguese passport could scupper the deal.
Russian billionaire Abramovich is on the EU sanctions list and there had been genuine worry European chiefs would block the move.
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Now though an agreement has been reached and the club has officially changed hands after Boehly came out on top ahead of 250 enquiries, 32 confidentiality agreements, 12 credible bids and three final bidders.
A statement from Boehly read: “We are honoured to become the new custodians of Chelsea Football Club.
“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.
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“I personally want to thank ministers and officials in the British government, and the Premier League, for all their work in making this happen.”
Behdad Eghbali and Jose E. Feliciano, co-founders and managing partners of Boehly’s Clearlake company, added: “We are excited to commit the resources to continue Chelsea’s leading role in English and global football, and as an engine for football talent development.
“We also want to thank the authorities for all their work throughout the process.
“As pioneers in sports and media investing, we are thrilled to partner with Todd and the rest of the consortium to meaningfully grow the Club as a global platform.
“Together, we will expand the Club’s investment across infrastructure, technology, and sports science to support the incredible Chelsea football and commercial teams – all with the goal of leveraging this growth to fuel even more on-pitch success.”
Abramovich previously vowed that proceeds from the sale would be donated to charity.
The takeover has gone through just before the special license granted by Whitehall for the club to continue operations in the wake of the sanctions expired.
Los Angeles Dodgers co-owner Boehly has already passed the Prem’s owner and directors test.
And now the club will finally be able to kickstart their summer transfer plans.
Boehly is reportedly set to hand head coach Thomas Tuchel £200million worth of funds in the upcoming window.
Sevilla defender Jules Kounde is a top target, while the Blues have also been linked with an ambitious swoop for Raheem Sterling.
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