The Todd Boehly led consortium has completed the takeover of Chelsea for £4.25bn. The announcement ends the 19-year reign of Roman Abramovich at the club. The new owners have committed to investing in areas that will enhance Chelsea’s competitiveness as well as invest in the stadium and academy. The deal went across the line after the government and Premier League received legal guarantees that Abramovich would not benefit from the sale.
“We are honored to become the new custodians of Chelsea Football Club. We’re all in – 100 percent – every minute of every match,” a statement from the Todd Boehly led consortium said after the Chelsea deal went through. “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 sale of Chelsea has now been completed – a great relief to Chelsea fans around the country and indeed the world,” sports minister Nigel Huddleston said. “The takeover means that the club is no longer subject to the sanctions imposed on Roman Abramovich, and can look ahead to a secure long-term future.”
“I think it’ll be a slightly different Chelsea to the one we’ve become familiar with under Roman Abramovich. He did run the club as a trophy asset and Chelsea lost over £900,000 a week throughout his 19-year reign,” Kieran Maguire said. “I suspect the Toddy Boehly group, especially as they’re backed by Clearlake Capital, will take a more data analysis and more Moneyball approach in terms of player recruitment. We won’t necessarily see the same merry-go-rounds we’ve seen in terms of coach appointments.”