Chelsea's takeover has been completed as Roman Abramovich has sold the Premier League to the investors, Todd Boehly and Clearlake Capital. Under the terms of the agreement, Boehly and Clearlake will share the common control and equal rule of the club.

Todd Boehly will be the chairman of this company.

The process is in continuation since early March when Roman Abramovich declared that he would end his 19-year tenure at Chelsea.

A Few days later, during the war in Ukraine, he was banned by the UK government because of his strengthened relations with Russian President Vladimir Putin and this has made Chelsea’s takeover further difficult. The UK government has imposed many restrictions on the club and they received a short-term license to lead the rest of the season until Roman Abramovich sold the club.

Although, after the long procedure of finding the deserving owner, the deal has been settled and Todd Boehly’s group has purchased Chelsea for a fee of $3.5 million, and there is a financial commitment that $2.2 billion by the club on youth and women’s team, Stamford Bridge and other facilities in the upcoming years.

As part of the deal, Roman Abramovich will not be refunded anything and his $1.9 billion, which he lent to Chelsea, while all net profits will be given to charity. 

Statement from Chelsea:

The statement confirming Chelsea’s takeover is below, which was immediately passed on the sale of the club.

Roman Abramovich has sold Chelsea Football Club and related companies to the investors, Todd Boehly and Clearlake Capital.

This event took place on 2 March, when Mr.Abramovich declared his intention to sell this club after the victorious journey of 19 years of its ownership. In the sale of the club, Mr. Abramovich demanded that the new owner should be a brilliant steward of the club, and the net proceeds from the sale must be donated to a charity and that he would not demand the fulfillment of loans given to the members of the club.

Chelsea added that "all the major consent, and the previous ownership structure in Portugal, Canada, and Jersey, demands further licensing" and new owners of joint control are responsible for developing and building on the tradition of football’s unparalleled excellence.    

What was Todd Boehly’s reaction?

The chairman and CEO of Eldridge, and Clearlake Capital Group, L.P. as the ‘Clearlake’ consortium also includes Hansjorg Wyss, founder of the Wyss Foundation, and Mark Walter, co-founder, and CEO of Guggenheim Capital is the introduction of Todd Boehly.

Walter and Todd Boehly have immeasurable experience in U.S sports as they own the Los Angeles Dodgers, the Los Angeles Lakers, and the Los Angeles Sparks. 

"We are proud to be the new owners of Chelsea Football Club,"Todd Boehly said, "We are all - 100% - in every match and giving our best. We as the owners have the vision to make the fans proud.

Along with our commitment to developing the youth squad and obtaining remarkable talent, our strategy is to make long-term investments possible in the club and to further Chelsea's undoubted journey of success. I am very thankful to the ministers and officials in the British government, and the Premier League, for all their efforts that made this possible. 

In Chelsea’s statement, they confirmed that they have got more than 250 enquires from buyers, managed the detailed meeting with more than 100 individuals and entities, and received 32 privacy agreements. 

They added that there were 12 valid bids before the Boehly group became the preferred bidders, resulting in 4 and then the 3 final bidders.

And finally, Todd Boehly group takes over the Chelsea football club and with an open heart, they are willing to do everything for the growth of the Chelsea football club.