Todd Boehly-led consortium: £4.25bn Chelsea takeover will be completed on Monday as Roman Abramovich says his final bye

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The Todd Boehly-led consortium takeover of Chelsea worth over £4.25 could be completed on Monday, May 30, 2022, according to a statement from the club earlier today, May 28, 2022.

Recall that Russian-Israeli billionaire Roman Abramovich had to put up Chelsea for sale days before the government of the United Kingdom sanctioned him due to his ties with Russia’s President Vladimir Putin who ordered a bloody invasion of Ukraine in February.

Since March 2, 2022, the process to sell the Premier League club has been on amid the sanctions against Abramovich which prevented Chelsea from selling players, extending contracts, and signing new players.

Also, the sanctions forced the club to stop selling the club merchandise, limited the club’s ticket sales for home games, and encouraged players like Antonio Rudiger and Christensen whose contracts are about to expire to leave the club for free.

Due to the uncertainties at Stamford Bridge, the club’s fans were desperately waiting for the club to announce the completion of the takeover of the Blues by the Todd Boehly-led consortium.

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The UK government delayed the takeover process because the government wanted to ensure that the proceeds of the sales goes to a foundation set up to help the victims of the Russian invasion of Ukraine. The government also ensured that the funds did not by any means get into the hands of those that have been sanctioned.

Note that £1.75bn of the overall takeover value of Chelsea worth £4.25bn, will be set aside to invest in the club for the next ten years. This means that the Todd Boehly-led consortium and the current majority stakeholder of the club, Clearlake Capital have their job cut out ahead of the completion of the takeover process.

A statement from the Premier League club on Saturday, May 28, read: “Chelsea Football Club can confirm that a final and definitive agreement was entered into last night to sell the Club to the Todd Boehly/Clearlake Capital consortium. It is expected that the transaction will be completed on Monday. The Club will update further at that time.”

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Roman Abramovich says his final bye ahead of the completion of Todd Boehly-led consortium takeover of Chelsea

Roman Abramovich says his final bye ahead of the completion of Todd Boehly-led consortium takeover of Chelsea
Outgoing owner of Chelsea Roman Abramovich.

Russian-Israeli billionaire Roman Abramovich has released a statement through Chelsea’s official website to say goodbye to Chelsea fans ahead of the completion of Todd Boehly-led consortium takeover of the Premier League club.

Recall that Abramovich became the owner of Chelsea in 2003. Through his heavy investment in the club, Chelsea have grown to become one of the biggest football clubs in the world in less than 20 years.

In his final note to Chelsea, Abramovich wrote: “It has been nearly three months since I announced my intention to sell Chelsea FC. During this time, the team have worked hard to find the right custodian for Chelsea FC that would be best positioned to successfully lead the Club into its next chapter.

“The ownership of this Club comes with great responsibility. Since I came to Chelsea nearly twenty years ago, I have witnessed first-hand what this Club can achieve. My goal has been to ensure that the next owner has a mindset that will enable success for the Men’s and Women’s teams, as well as the will and drive to continue developing other key aspects of the Club, such as the Academy and the vital work of Chelsea Foundation.

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“I am pleased this search has now come to a successful conclusion. As I hand over Chelsea to its new custodians, I would like to wish them the best of success, both on and off the pitch.

“It has been an honor of a lifetime to be a part of this Club – I would like to thank all the Club’s past and current players, staff, and of course fans for these incredible years.

“I am proud that as a result of our joint successes, millions of people will now benefit from the new charitable foundation which is being established. This is the legacy which we have created together.”

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