Todd Boehly Completes £4.25bn Takeover Of Chelsea
Chelsea have announced that the Todd Boehly-led consortium have completed a £4.25bn takeover of the premier league club.
Boehly’s consortium agreed a deal to purchase the London club from Roman Abramovich for £4.25 billion ($5.3 billion) on May 7 and the sale has now been officially rubber-stamped.
“We are honoured to become the new custodians of Chelsea Football Club. We’re all in, 100 percent, every minute of every match,” Boehly told Chelsea’s website.
Boehly’s takeover ends Abramovich’s 19-year reign as Chelsea owner after the Russian put the club up for sale in March.
After months of negotiations, the deal was finally approved on Wednesday morning when the government received legal guarantees that Roman Abramovich – who has had his UK assets frozen – would not benefit from the sale.
The proceeds from the sale will be frozen in a UK bank account until the government has received further assurances that the money will solely go to support humanitarian causes in Ukraine.
