Chelsea confirm Todd Boehly takeover to signal end of Roman Abramovich reign

Chelsea have confirmed the ‘final and definitive agreement’ has been reached for merican billionaire Todd Boehly to take over the club with the £4.25billion deal all set to be completed on Monday, May 30.

The announcement from Chelsea marks the official end to Roman Abramovich’s era and will see the Russian replaced as owner by Boehly and the Clearlake Capital group.

Roman Abramovich

‘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,’ Chelsea said in a statement.

‘It is expected that the transaction will be completed on Monday. The Club will update further at that time.’

Abramovich declared his pride at his successful tenure – signing off with a statement saying his ownership of Chelsea had been ‘an honour of a lifetime’.

‘It has been nearly three months since I announced my intention to sell Chelsea FC,’ he said. ‘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 custodians, 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, Roman.’

The final hurdle in the takeover was cleared when the Portuguese government authorised Abramovich’s sale of the club earlier this week.

In a statement following Chelsea’s announcement, the club’s supporters’ trust said: ‘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.’

Abramovich is selling the club in the wake of strict financial sanctions on him from the UK government, following Russia’s invasion of Ukraine.