Chelsea Board of Directors confirm sale of club to Todd Boehly consortium completed
Chelsea have today completed the sale of the Premier League outfit to the consortium led by Todd Boehly and Clearlake Capital.
With the £4.25bn takeover completed, Roman Abramovich’s 19-year relationship with the London club as owner has come to a conclusion.
In a statement, the board of directors said: “We would like to think all of the bidders for their engagement, effort and participation in this process.
“We would also like to thank our men and women footballers, the staff of both teams, everyone in our Academy, and in particular Thomas Tuchel and Emma Hayes for their patience and support during this process. And, of course, thank you to all our partners, staff and fans during this difficult phase for the Club.
“We additionally wish to state our appreciation for the efforts of the Fans’ Forum, Chelsea Supporters Trust, Chelsea Supporters Group, Chelsea Supporters Club and Chelsea Pitch Owners for engaging with bidders and conveying their views and expectations of any new owner.
“And finally, we would like to thank for their help, assistance, and support those persons with whom we have worked with at: DCMS, HM Treasury, UEFA, The FA, The Premier League, The Raine Group, Northridge Law, Simmons & Simmons, Ernst & Young, Pillsbury Winthrop Shaw Pittman and, OF COURSE, Roman Abramovich for 19 amazing, unforgettable years.”
Abramovich signalled his intention to sell the club he has owned since 2003 in March after sanctions looked imminent following Russia’s invasion of Ukraine.
The oligarch was sanctioned by the UK Government and the European Union and the proceeds of the sale have been committed to help victims of the war in Eastern Europe.
Todd Boehly, part owner of the LA Dodgers, has been the face of the preferred bidder but investment group Clearlake Capital will hold the majority of the shares.
“We are honoured to become the new custodians of Chelsea Football Club,” said Boehly.
“We’re all in – 100 per cent – 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.”
The club has been purchased for around £2.5bn with a £1.75bn committed in spending over the next decade.