Roman Abramovich mentioned Saturday proudly owning Chelsea had been the “honour of a lifetime” after the Premier League membership mentioned the sale to a consortium led by Todd Boehly, the co-owner of baseball’s Los Angeles Dodgers, was anticipated to be accomplished by Monday. Chelsea have been put available on the market in early March, days earlier than Abramovich was sanctioned by the British authorities following Russia’s invasion of Ukraine. “I am pleased this search has now come to a successful conclusion,” Abramovich mentioned in a press release after the British authorities and the Premier League authorized the 4.25 billion pound ($5.3 billion) takeover.
“It has been an honor of a lifetime to be a part of this club,” the 55-year-old Russian mentioned in a press release.
“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.”
The British authorities describes Abramovich as a part of Russian President Vladimir Putin’s internal circle. Abramovich can be the goal of European Union sanctions.
The authorities doesn’t need Abramovich to obtain any of the proceeds from the sale, which can as a substitute go right into a frozen checking account for use for charitable functions.
“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,” the membership mentioned on Saturday.
“It is expected that the transaction will be completed on Monday.”
The consortium is led by Boehly, however California-based personal fairness agency Clearlake Capital will personal a majority of the shares within the membership.
Other traders embrace US billionaire Mark Walter, who’s Boehly’s co-owner on the Dodgers, and Swiss billionaire Hansjorg Wyss.
The Portuguese authorities has additionally ratified the sale. Portugal’s approval was required as a result of Abramovich holds a passport for the European nation.
Chelsea have been remodeled since Abramovich purchased them in 2003 for simply 140 million kilos at a time when Manchester United and Arsenal have been the dominant forces within the Premier League.
The Russian routinely bankrolled blockbuster transfers and was rewarded with a staggering 19 main trophies in his 19-year reign — together with 5 Premier League titles and two Champions League triumphs.
“I would like to thank all the club’s past and current players, staff, and of course fans for these incredible years,” Abramovich continued.
“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 objective has been to make sure that the following proprietor has a mindset that can allow success for the lads’s and girls’s workforce, in addition to the need and drive to proceed growing different key features of the membership, such because the Academy and the very important work of Chelsea Foundation.”
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