Finance

Abramovich writes heartfelt handover statement, as Chelsea FC confirms £4.25 billion sale to Todd Boehly’s consortium


The £4.25 billion proposed takeover of the London football club by Todd Boehly/Clearlake Capital consortium is expected to be completed on Monday, May 30, 2022, as the club confirmed in a statement that it has reached a final and definitive agreement.

After months of negotiations, the takeover seems to be finally over. Earlier this week, the UK government gave the takeover a green light after it received assurances that Roman Abramovich won’t benefit from the sale. The Premier League board also approved the takeover following the positive conclusion of the Premier League’s Owners’ and Directors’ Test (OADT).

Following the club’s confirmation of the takeover earlier this morning, Roman Abramovich released a parting statement via the club’s website wishing the new custodians success both on and off the pitch.

What they are saying

Chelsea confirmed the takeover in a statement which reads:

  • “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.”

The statement from Roman Abramovich reads:

  • “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 team, 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.
  • “I am pleased this search has now come to a successful conclusion. As I hand over Chelsea to its new custodian, I would like to wish them the best of success, both on and off the pitch.
  • “It has been an honour 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. Thank you,”

What you should know

  • 88 days after Abramovich put the club up for sale, the takeover is finally set to take place on Monday, May 30 and will put an end to his 19-year ownership.
  • Abramovich bought the club from Ken Bates in June 2003 and led them into a trophy-laden era.
  • The Blues won the Premier League and FA Cup on five occasions under Abramovich, the Champions League and Europa League twice, including three League Cups.
  • The deal set to be completed on Monday will see LA Dodgers part-owner, Todd Boehly becomes Chelsea’s controlling owner with California Investment firm, Clearlake Capital to assume the majority shareholding.



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