Chelsea Football Club has been sold to a consortium led by Todd Boehly and Clearlake Capital, the Premier League club announced on May 30, 2022. The sale marks the end of Roman Abramovich's ownership of the club, which he purchased in 2003 for a reported 140 million pounds.
The sale was completed after a three-month process, during which the consortium received approval from the Premier League and the British government. The Portuguese government also issued a humanitarian waiver, allowing the sale to proceed.
As part of the sale, the new owners have agreed to donate the net proceeds to charity and have committed to being a good steward of the club. The sale also allows Chelsea to renew transfer activity and extend contracts with their players, which was prohibited under the sanctions imposed on Abramovich.
Boehly, who is part-owner of the Los Angeles Dodgers, will serve as chairman of the holding company and has expressed his commitment to making the fans proud. The consortium also includes Swiss business tycoon Hansjoerg Wyss and Mark Walter.
Chelsea finished third in the recently concluded Premier League season and lost to Liverpool on penalties in the FA Cup and League Cup finals. The sale of the club is a significant development for the team and its fans, who will be eagerly awaiting the new owners' plans for the club.
