Chelsea sale: £4.25 billion sale to Todd Boehly will go throughon Monday after Roman Abramobich sanctions

The sale of Chelsea football club to US magnate Todd Boehly has been agreed and is expected to be complete on Monday.

Boehly, leader of a consortium involving Clearlake Capital, will buy the Premier League club for what will be a sports franchise record deal of £4.25 billion.

Eighty-eight days after Roman Abramovich officially put the Blues up for sale, billionaire Boehly is poised to take over at the west London club in 48 hours.

A short statement on Chelsea’s website said: “Chelsea confirm the agreement to sell the club to the Todd Boehly/Clearlake Capital consortium with the transaction expected to be completed on Monday.”

Abramovich put the club up for sale on 2 March, amid Russia’s continued invasion of Ukraine.

The 55-year-old was then sanctioned by the UK Government on 10 March, with Downing Street claiming to have proven his links to Vladimir Putin.

A general view of the Bovril Gate entrance at Stamford Bridge, home of Chelsea FC, after the UK Government announced it has issued a licence that permits the sale of Chelsea to the Todd Boehly/Clearlake Consortium and is ???????now satisfied that the full proceeds of the sale will not benefit Roman Abramovich. Picture date: Wednesday May 25, 2022. PA Photo. See PA story SOCCER Chelsea. Photo credit should read: Jonathan Brady/PA Wire. RESTRICTIONS: Use subject to restrictions. Editorial use only, no commercial use without prior consent from rights holder.
Chelsea’s sale has required UK Government, European Union and Portuguese Government approval (Photo: Jonathan Brady/PA Wire)

The Russian-Israeli billionaire has owned Chelsea for 19 years, leading the Blues to 21 trophies and changing the face of English football forever in that time.

Chelsea’s sale has required UK Government, European Union and Portuguese Government approval due to the sanctions imposed on Abramovich.

The proceeds of Chelsea’s sale – expected to be £2.5b – will be frozen in a UK bank account on completion of the sale.

FILE - Chelsea soccer club owner Roman Abramovich attends the UEFA Women's Champions League final soccer match against FC Barcelona in Gothenburg, Sweden, May 16, 2021. Western allies are considering whether to allow Russian oligarchs to buy their way out of sanctions and using the money to rebuild Ukraine, according to government officials familiar with the matter. Former Chelsea owner Roman Abramovich, who was sanctioned over his links to Putin has said that net proceeds from the sale of the soccer team would be donated to victims of the war in Ukraine. (AP Photo/Martin Meissner, File)
Roman Abramovich was sanctioned due to his alleged support for Russia’s invasion of Ukraine (Photo: AP Photo/Martin Meissner, File)

The UK Government will then need to issue a further licence to allow those funds to be diverted to a new charitable foundation, to aid victims of the war in Ukraine.

The Premier League has also signed off the sale.

The news was welcomed by Chelsea Supporters’ Trust, who have held positive talks with Boehly in recent weeks.

The fans group said in a statement: “The Chelsea Supporters’ Trust would like to congratulate the consortium led by Todd Boehly on the takeover of Chelsea FC.

“We wish you every success as the custodian of our club and look forward to a long, constructive and mutually beneficial relationship between you and Chelsea supporters.

“The CST has been very encouraged by the interactions we have had with Mr Boehly and his team over recent months, but the hard work starts now. It is now time to deliver both on and off the pitch in building a successful, inclusive and forward-thinking club with supporters at the forefront.”



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