August 11, 2022

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Chelsea takeover finally complete as Todd Boehly era begins

2 min read

Chelsea Football Club has confirmed that Todd Boehly and the Clearlake consortium have purchased the Stamford Bridge side and that the takeover has now been completed.

“Roman Abramovich has completed the sale of Chelsea Football Club and related companies to an investment group led by Todd Boehly and Clearlake Capital,” a statement read on Monday. The Premier League club confirmed on Saturday that “a final and definitive agreement” had been reached on Friday night.

The completion of the deal means Chelsea’s takeover comes just one day before their government operating license on 31 May expires.

The west London side had seen its immediate future thrown into doubt and now suddenly faces an entirely new one, after a rapid two-month process which started with former owner Roman Abramovich listing the club for sale amid sanctions placed on him by the government for ties to Vladimir Putin.

A host of early interested parties in buying Chelsea included a group headed by Sir Martin Broughton and the Ricketts family, owners of the Chicago Cubs, before a late move from Ineos owner Sir Jim Ratcliffe also added intrigue.

But Boehly’s bid has remained the favourite and ultimately proved successful, completing a £4.25bn takeover to make it the most expensive sporting franchise sale of all time.

The government approved the sale on Wednesday and Portuguese officials did likewise on Thursday morning, with Abramovich holding a passport from that nation and so needing authorisation.

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