Official: American Todd Boehly buys Chelsea from Abramovich for €4.9 billion

It’s the end to a brilliant era for Chelsea Football Club as Roman Abramovich had to part ways with his beloved squad due to issues

that surpassed him. Ever since Russia’s invasion in Ukraine began, the Bues’ owner was immediately linked to President Vladimir Putin.

With the UK Government imposing sanctions against him, it was only a matter of time for them to go after his oligarch friends. Abramovich is one of the closest people to Putin and they naturally wen’t after his assets. In order to not leave Chelsea hanging, he needed to find an ideal suitor who could continue the club’s successful legacy of the past two decades.

Even though there was a bigger offer from INEOS’ Sir Jim Ratcliffe, Abramovich saw Todd Boehly as the better candidate to take over the club. The part oenwer of Los Angles Dodgers, Los Angeles Lakers and Sparks has a success rate that leaves Chelsea in the best possible hands.

 

Read Also : Ex-Chelsea Captain John Terry and Real Madrid Legend Roberto Carlos arrive lagos for Budweiser game(video)

 

In the end, the final €4.9 billion offer will be split between a bigger chunk destined to purchase club shares and a smaller one destined to apply for further investment in the club. Abramovich leaving the Blues marks the end of the most successful era at Chelsea, no question about it. Pending regulatory approvals, this deal is locked and loaded before the deadline that was previously imposed by the British Government.

This is Chelsea’s statement in full: “Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Club. Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100% to charitable causes as confirmed by Roman Abramovich.

“UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account. In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation. The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.”

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