The acquisition of English football club Chelsea for £2.5 billion ($3.2 billion) – the highest price ever paid for a sports team – was completed on Monday by a consortium. led by Todd Boehly, owner of the Los Angeles Dodgers.
It marks the end of a trophy-laden 19-year tenure for Roman Abramovich, the Russian oligarch who was forced to sell the club in March after being punished by the British government for what it called allowed Russian President Vladimir Putin the “brutal and barbaric invasion” of Ukraine.
The government said the proceeds from the sale will be used for humanitarian purposes in Ukraine.
“We are honored to be the new keeper of Chelsea Football Club,” said Boehly. “We’re all at, 100%, every minute of every game.”
Chelsea has been operating under a government license since Abramovich’s assets were frozen in March. The club said the Boehly and Clearlake Capital consortium were among about 250 proposed buyers, and that number has been narrowed down to the final three bidders.
“Many people describe the proposed transaction as ‘unprecedented’, and rightfully so,” Chelsea said. “A transaction like this would normally take between nine months and a year to complete; we did it in less than three months.”
The British government approved the purchase last week after ensuring that Abramovich could not profit from it. The proceeds will be transferred to a frozen account and then used “to support relief and reconstruction efforts in Ukraine as soon as possible”, the government said.
‘New Chapter’
“Today’s change of ownership marks a new chapter for Chelsea,” the government added, “in the best interest of the fans, the club and the wider football community.”
Boehly’s consortium has committed to investing an additional £1.75 billion ($2.2 billion) in Chelsea’s men’s, women’s and academy teams and in infrastructure, such as the redevelopment of Stamford Stadium. Bridge.
The consortium also has the Dodgers’ main owner, Mark Walter, Swiss billionaire Hansjorg Wyss, and funding from private equity firm Clearlake.
Behdad Eghbali and Jose E. Feliciano, co-founders of Clearlake, said: “We are delighted to have committed our resources to continue Chelsea’s leading role in English and global football, and to be dynamic opportunity to develop football talent”.
Funded by Abramovich’s lavish investment, the Chelsea men’s side won 21 titles during his tenure, including the Champions League in 2012 and 2021, and are the defending Club champions. World Cup. The women’s team has won the championship double this season.
Chelsea manager Thomas Tuchel has been praised in the club’s statement for his “patience and support” throughout the sale, and he can now start signing to strengthen the team. his squad qualified for next season’s Champions League – through third place in the Premier League – despite the chaos off the pitch.
The club’s ability to sell match tickets and commit to spending on new players has been limited by the sanctions against Abramovich.
