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May 29, 2024
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Football News

Chelsea FC announces completion of takeover to Todd Boehly

Chelsea FC Todd Boehly

Chelsea football club have declared that a group led by Todd Boehly has taken over as the club’s new owners, putting an end to Roman Abramovich’s 19-year reign at the club.

Finally, a long-awaited takeover of Chelsea FC has now taken place and the Blues will begin a new era under Toddy Boehly. The London club will now be able to trade again in the transfer market after the Russian billionaire’s departure.

Chelsea FC set to begin their new era under Todd Boehly

The Premier League club has been for sale since early March due to the UK government’s pressure. The British government imposed various kinds of penalties on the ex-owner Abramovich for his ties to Russian President Vladimir Putin.

Thus, now Chelsea have acknowledged that they are now under new ownership. Two days after Chelsea released a statement to reveal that the takeover was on the brink of completion and Abramovich formally said his goodbyes.

The statement stated

“Roman Abramovich has completed the sale of Chelsea Football Club and related companies to an investment group led by Todd Boehly and Clearlake Capital.”

The rapidity with which the takeover was done was also mentioned as normally it would have taken around 9 months. Moreover, over 250 inquiries had been received once Chelsea was put on sale in the market.

Chelsea further claims that Boehly and the consortium have agreed to “certain binding financial commitments. The commitments are related to the academy, women’s team, Stamford Bridge renovation, and the Chelsea Foundation.

The agreement also officially lifts Chelsea’s restrictions, allowing Thomas Tuchel to sign and trade players as well as renegotiate contracts with present players.

The transfer market for the Premier League clubs is set to begin on 10th June. The Blues will begin their new ear under the new ownership of Todd Boehly.

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