OFFICIAL: Todd Boehly Consortium Completes the Takeover of Chelsea Football Club from Roman Abramovich for £4.25 billion

Todd Boehly’s consortium are the official owners of Chelsea Football Club. This was made official after a statement was released on the club’s official website.

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

Under the terms of the agreement, Boehly and Clearlake will share joint control and equal governance of the Club. Boehly will serve as Chairman of the holding company.

Boehly and Clearlake 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. The owners will also continue the important work of the Chelsea Foundation.

The process had dragged on for nearly 3 months since Roman Abramovich announced that he was selling the club.

The UK government and Premier League had already approved the takeover, but final ratification from the government of Portugal was required for the deal to go through as Abramovich holds a Portuguese passport.

And a statement published on Thursday from the European nation confirmed: “Portugal gave authorisation, this Wednesday night, to the sale of Chelsea Football Club.

“The two responsible national authorities – Ministry of Foreign Affairs and Ministry of Finance – have given the green light to the request received on behalf of Roman Abramovich for a humanitarian derogation, allowing the English club to be transacted.

“The Portuguese authorisation follows the guarantee given by the British authorities that the proceeds from the sale will be used for humanitarian purposes, not directly or indirectly benefiting the owner of the club, who is on the European Union sanctions list. The national position has the agreement of the European Commission.”

Abramovich, who took over as owner in 2003, put Chelsea up for sale on March 2, amid Russia’s continued invasion of Ukraine.

The 55-year-old was then sanctioned by the UK Government on March 10, with Downing Street claiming to have proven his links to Vladimir Putin.

Abramovich, who took over as owner in 2003, put Chelsea up for sale on March 2, amid Russia’s continued invasion of Ukraine.

The 55-year-old was then sanctioned by the UK Government on March 10, with Downing Street claiming to have proven his links to Vladimir Putin.

Former UNICEF UK chief executive Mike Penrose has been tasked with setting up that foundation, that he believes could ‘change the face of humanitarian aid’.

The European Union confirmed its ratification of the Chelsea on Wednesday evening, with the commissioner for financial services Mairead McGuinness posting on social media.

“Following detailed discussions between the EU Commission, the UK and Portugal, I am pleased that we have received the necessary guarantees that the sale of Chelsea FC is fully in line with European Union sanctions rules,” read a tweet from McGuinness.

“Proceeds go entirely to humanitarian purposes in Ukraine.”

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