Chelsea confirm Todd Boehly consortium has completed takeover of club from Roman Abramovich
/dnl.eurosport.com/sd/img/placeholder/eurosport_logo_1x1.png){kind=logo}
ByEurosport
Updated 30/05/2022 at 15:50 GMT
It has taken a long time but the sale of Chelsea has finally been completed with Todd Boehly and his consortium having completed all the necessary obligations to satisfy every party involved and finalise the takeover. It gives the club some much-needed stability after a turbulent few months for the entire operation, and brings an end to the Roman Abramovich era.
Todd Boehly
Image credit: Getty Images
Premier League side Chelsea have confirmed that the consortium led by LA Dodgers part-owner Todd Boehly has completed the takeover of the club.
Chelsea had been up for sale for some months following the freezing of the assets of Roman Abramovich by the UK government after Russia’s invasion of Ukraine.
After rounds of bidding and plenty of rumours and speculation, Boehly - who now becomes chairman of the holding company that owns the club - and his consortium won out.
“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.”
A statement on the club’s website read: “The consortium led by Todd Boehly, chairman and CEO of Eldridge, and Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), today announced completion of the ownership transfer of Chelsea Football Club (“Chelsea FC” or “the Club”),”
“The consortium also includes Hansjörg Wyss, founder of the Wyss Foundation, and Mark Walter, co-founder and CEO of Guggenheim Capital. Walter and Boehly are owners of the Los Angeles Dodgers, the Los Angeles Lakers, and the Los Angeles Sparks. The transaction has received all necessary approvals from The Government of the United Kingdom, The Premier League, and other authorities.
“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.”
Behdad Eghbali and José E. Feliciano, Clearlake co-founders and managing partners, said, “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."
Scan me
Related Topics
Share this article
Advertisement
Advertisement