Chelsea is bought by new owner Todd Boehly

Chelsea has a new owner after American businessman Todd Boehly completed his $4.9billion takeover from Russian businessman Roman Abramovich.

The American businessman has partnered with Dodgers owner Mark Walter, Swiss billionaire Hansjeorg Wyss as well investment firm Clearlake Capital.

Chelsea released a statement on their official website about the agreement of the new ownership.

Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100 per cent to charitable causes as confirmed by Roman Abramovich. UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.

In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation.

The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.

Following Russia’s invasion of Ukraine, the English government-sanctioned former owner Abramovich. The club was up for sale to the highest bidder. If they couldn’t find a suitor then the club would have been relegated to the second tier.

But finally, the long saga of the takeover was done and Chelsea have a new American owner just before the transfer market opens. Todd Boehly had to work hard to satisfy the different parties in Chelsea and also defeat other recognizable opponents.

Boehly shared some of his beliefs about success in the past. He said,

When I’m negotiating, the objective isn’t to get the best deal for myself but for all parties. Most people try to wring every penny for themselves. That strategy earns them more money on one specific deal, but it doesn’t build trust or long-lasting relationships.

Boehly is a philanthropist and is known for his charitable works.

The Chelsea camp is very eager to see what new things he brings to the club and how he will be able to replicate the amount of success that Abrahimovich brought after his takeover.