New Chelsea owner Todd Boehly promised to build on the team’s “remarkable history of success” after the American completed his takeover of the Premier League club on Monday. Boehly’s consortium agreed a deal to buy Chelsea from Roman Abramovich for £4.25 billion ($5.3 billion) on May 7 and the deal is now officially rubber-stamped. “We are honored to be the new keeper of Chelsea Football Club. We are there, 100 per cent, every minute of every game,” Boehly told Chelsea’s website.
Boehly’s takeover ends Abramovich’s 19-year reign as Chelsea owner after the Russians put the club up for sale in March.
Abramovich was sanctioned by the British government for allegedly having links with Russian President Vladimir Putin after the invasion of Ukraine.
Co-owner of the Los Angeles Dodgers, Boehly has set his sights on rivaling Chelsea’s success during the Abramovich era, including five Premier League titles and two Champions League titles among 19 major trophies.
“Our vision as owners is clear: we want to make our fans proud,” says Boehly.
“Along with our commitment to developing a young squad and attracting the best talent, our plan of action is to make a long-term investment in the club and build on Chelsea’s remarkable history of success. “
Chelsea have been operating under a special government license that expires on May 31 if Boehly is unable to close the deal.
That could put Chelsea’s future in doubt, but they can now look ahead to next season as the Boehly regime delivers the keys to Stamford Bridge.
Boehly’s team needs approval from the Premier League, the British government and Portuguese authorities – Abramovich is a Portuguese national – before the sale can be completed.
“I personally want to thank ministers and officials in the UK Government, and the Premier League, for all their work in making this happen,” Boehly said.
Boehly fought 11 rival bidders to buy Chelsea in a record deal for a sports club.
He will “share common control and equal governance of the club” with his principal partner, investment firm Clearlake Capital.
Boehly is the controlling owner of Chelsea, but will work closely with Clearlake co-founders Behdad Eghbali and Jose Feliciano.
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Swiss billionaire Hansjorg Wyss and American tycoon Mark Walter are other key members of the group.
“We are pleased to commit our resources to continue Chelsea’s leading role in English and global football, and as the engine that develops football talent,” Eghbali and Feliciano said in a joint statement.
“We also want to thank the authorities for all their work throughout the process.
“As pioneers in sports and media investments, we are delighted to partner with Todd and the rest of the group to meaningfully grow the club as a platform. Global.
“Together, we will expand the club’s investment across infrastructure, technology and sports science to support the incredible Chelsea and commercial football team – all with the goal of making the most of football.” Use this growth to drive further success on the pitch.”
Boehly’s arrival in West London will dramatically reverse Chelsea’s status from champion to champion under Abramovich.
Crucially, completing the takeover will give Blues boss Thomas Tuchel the financial backing to challenge Premier League champions Manchester City.
Chelsea finished third in the Premier League this term, ensuring they qualify for next season’s Champions League.
Tuchel’s side also reached the FA Cup and League Cup finals – losing both to Liverpool on penalties – and won the Club World Cup and UEFA Super Cup.
Chelsea are unable to sign existing stars because of Abramovich’s sanctions.
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They’re about to lose Antonio Rudiger to Real Madrid on a free transfer, while Andreas Christensen will join Barcelona when his contract expires at the end of the season.
After Abramovich halted Chelsea’s stadium redevelopment plans several years ago, the new owners “committed to investing in key areas that will expand and enhance Chelsea’s competitiveness, including including the redevelopment of Stamford Bridge.”
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