After months of negotiations, Chelsea should end up in different ownership and break away from the leadership Russian billionaire Roman Abramovichthe Blues are being sold to a group led by Los Angeles Dodgers part owner Todd Boehly, who was at Stamford Bridge on Saturday to see his new team tie Wolverhampton.
Boehly, 46, and a large group of investors will pay $3.1 billion for the club, the most for a sports franchise. Boehly’s group has pledged an additional $2.2 billion for facility improvements and investments. The sale is expected to be completed by the end of May.
Abramovich was forced to sell the club after he was sanctioned by the British government in March for his ties to Russian President Vladimir Putin amid the brutal war and unnecessary invasion of Ukraine. British Prime Minister Boris Johnson cited the rationale for sanctioning Ambramovich as “there are no safe havens for those who supported Putin’s vicious attack on Ukraine.”
“Of the total investment made, ($2.5 billion) will be used to purchase the club’s shares and these proceeds will be deposited into a frozen UK bank account with the intention of giving 100% to charity, as by Roman Abramovich confirmed. ‘ according to a statement from Chelsea FC.
Chelsea were granted a special exemption by the UK government, allowing the football club to continue playing games, paying staff and allowing season ticket holders to attend games while Abramovich was sanctioned. Boehly originally made a $1.5 billion bid to buy Chelsea, but significantly increased his cash investment during negotiations with the UK government.
The exception’s license also did not include buying new players, signing new deals with current squad members, and selling new tickets to all matches. The transfer window is closed until July 1, but a trio of permanent players – team captain Cesar Azpilicueta, defender Antonio Rüdiger and midfielder Andreas Christensen – all have contracts that expire at the end of the season. During the freeze, it was confirmed that Rudiger would join Real Madrid while Christensen is expected to join Barcelona.