Todd Boehly has stated that he is ‘100 per cent’ committed to maintaining Chelsea’s position at the top of English and European football as the American tycoon completed his £4.25bn takeover.
Ninety days after Roman Abramovich put Chelsea up for sale as a result of the Russian invasion of Ukraine, businessman Boehly, who is due to sign Sevilla defender Jules Kounde for the first time, was finally confirmed as the club’s new owner on Monday. in the afternoon.
The 48-year-old, who also co-owns the LA Dodgers baseball team and the LA Lakers NBA franchise, and financial firm Clearlake Capital, who is understood to have put up most of the money for the purchase, will share joint control. and equality of government of the Blues.
Boehly’s arrival ends Abramovich’s 19-year spell as Blues owner; an era that brought unprecedented success to West London.
And speaking for the first time as Chelsea’s new supremo, Boehly insisted his intention is to ensure the club remains one of world football’s elite teams.
“We are honored to become the new custodians of Chelsea Football Club,” said Boehly.
We are all inside, 100 percent, every minute of every game. Our vision as owners is clear: we want to make fans proud.
Todd Boehly (centre), present at Stamford Bridge, has been confirmed as the new majority owner of Chelsea along with Clearlake Capital after a massive £4.25bn takeover.
Premier League team can look to the future, leaving uncertainty behind
The era of Roman Abramovich (above) has finally come to an end after months of bickering.
“Together with our commitment to developing the youth team 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 success story.”
Behdad Eghbali and Jose E. Feliciano, co-founders and managing partners of Clearlake, added: ‘We are excited to commit resources to continue Chelsea’s leading role in English and world football, and as an engine for the development of football talent.
“As pioneers in sports and media investment, we are delighted to partner with Todd and the rest of the consortium to significantly grow the Club as a global platform.
“Together, we will extend the club’s investment in infrastructure, technology and sports science to support Chelsea’s incredible football and commercial teams, all with the aim of leveraging this growth to further drive success on the pitch.”
Chelsea has also confirmed that the successful consortium also includes Swiss businessman Hansjörg Wyss and Mark Walter, co-founder and CEO of Guggenheim Capital and co-owner of the Dodgers and Lakers.
The confirmation comes as a great relief to fans, who were worried about the future of the club.
In a statement confirming the sale, Chelsea revealed that they received more than 250 inquiries from interested parties, held detailed discussions with more than 100 individuals and entities, and entered into 32 non-disclosure agreements.
‘A transaction like this would normally take nine months to a year to complete; we did it in less than three months,’ said a Chelsea statement from the club’s board of directors.
“Ultimately, the club received 12 credible offers, resulting in four and then three final bidders. The Todd Boehly and Clearlake Capital consortium was selected as the preferred bidder.’
Chelsea also say the new owners have agreed “to make certain binding financial commitments, including investments in the academy and women’s team, the redevelopment of Stamford Bridge and the Chelsea Foundation”, while seeking assurances that the club will not be burdened. with “inappropriate”. debt.
CEO Guy Laurence (pictured) will step down now that Boehly’s £4.25bn takeover is complete
The Blues also gave special thanks to Abramovich for ’19 incredible and unforgettable years’ when confirming the sale.
Chelsea are hoping to make long-term central defensive target Koundé the first signing of Boehly’s reign after the government confirmed the club is now free to conduct business as normal.
“The club is no longer subject to the sanctions imposed on Roman Abramovich, an individual who has allowed Putin’s brutal and barbaric invasion of Ukraine,” a government spokesman said.
The £2.5bn from the sale has now been transferred from Boehly’s camp to a frozen account, with the government guaranteeing the money will be used to support victims of the war in Ukraine.
LA Dodgers co-owner and mogul Boehly will have the support of several key figures
Whitehall bosses insist Abramovich, who is owed £1.6bn by Chelsea, will not benefit from the sale. This process will involve consideration of the creation of the proposed new foundation that will deal with the distribution of aid to Ukraine. .
Because Abramovich remains a sanctioned person, any cash transfer must be authorized by the Office of Financial Sanctions Implementation (OFSI). This includes a donation to a new or existing charity.
Therefore, the Government will issue a new license to distribute the proceeds of the sale once it is satisfied with any license application.