Chelsea are officially under new ownership as Todd Boehly completed his £4.25billion ($5.3bn) purchase of the Stamford Bridge club on Monday.
Los Angeles Dodgers co-owner Boehly had earlier agreed to purchase the Premier League team, ending Roman Abramovich’s ownership tenure after 19 years.
The London club was put up for sale before Abramovich was sanctioned over his links to Russian president Vladimir Putin.
After a number of bids were rejected, Chelsea agreed to a deal with the consortium that included Boehly, Dodgers principal owner Mark Walter, Swiss billionaire Hansjorg Wyss, and funding from private equity firm Clearlake Capital.
The 48-year-old US tycoon's consortium finally took over at Stamford Bridge on Monday, having completed the record sports franchise purchase. Boehly's team fought off serious rivals to become the new Chelsea owners, in a sale process that started on March 2.
"We are honoured to become the new custodians of Chelsea Football Club," said Boehly.
"We're all in – 100 per cent – every minute of every match. Our vision as owners is clear: we want to make the fans proud.
"Along with our commitment to developing the youth squad and acquiring the best talent, our plan of action is to invest in the club for the long-term and build on Chelsea's remarkable history of success.
"I personally want to thank ministers and officials in the British Government, and the Premier League, for all their work in making this happen."
Chelsea 2021/22 season ratings
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CHELSEA END OF SEASON RATINGS: (Manager) Thomas Tuchel: 9. A Premier League title challenge may have faded amid the relentless pace of Manchester City and Liverpool but third place, the Fifa Club World Cup, and reaching both domestic finals represent a fine campaign. Even more so when he had to operate under government-imposed sanctions, and he led the club during a period of uncertainty with poise and dignity. EPA -
(Goalkeepers) Edouard Mendy: 8. Another strong season for the Senegalese. There was a spell midway through the season where Mendy was unbeatable, and while he was guilty of some costly mistakes, most notably against Real Madrid, he is a key player for Chelsea. Getty -
Kepa Arrizabalaga: 7. Had his best season yet for Chelsea, deputising effectively while Mendy was on Afcon duty and impressing in the cups, while the Spaniard was superb in the Club World Cup semi-final. But - and it's a rather big but - his League Cup final cameo was disastrous; coming on for the shootout, Kepa didn't get anywhere near Liverpool's penalties before blazing his effort out of the stadium. PA -
(Defenders) Antonio Rudiger: 9. Chelsea's player of the season, the German defender was superb throughout, leading from the back with rock solid defensive displays and contributing with some goals. Gut-wrenching for Chelsea fans that he's leaving. Getty -
Andreas Christensen: 6. Challenged by Tuchel at the end of the 2020/21 season to stake his claim in the first team but it was another year as a squad player, although played most of Chelsea's Champions League campaign. Had a decent enough season but his form faded after he had clearly decided to leave, and made himself unavailable for the FA Cup final. Getty -
Trevoh Chalobah: 7. Had a dream goalscoring Premier League debut and maintained that strong form during the early part of the season. Performances dipped towards the back end of the campaign but the Academy graduate looks set for a big future in the first team. EPA -
Malang Sarr: 6. After spending last season on loan at Porto, got his chance in the Chelsea setup after the long-term injury to Ben Chilwell. Largely dependable at left centre-back and wing-back without being spectacular, although had a horror show against Luton in the FA Cup. Getty -
Thiago Silva: 8. What's left to say about the ageless Brazilian? Another year older but still as classy as defenders come, the 37-year-old shows no signs of slowing down. Given the impending upheaval to Chelsea's defence this summer, the club will be delighted Silva is staying for another season. Getty -
Marcos Alonso: 7. Still defensively suspect when targeted one-on-one by opposition wingers but remained an attacking threat down Chelsea's left flank. Probably played more games than expected following Chilwell's injury and, overall, had a good season. Reuters -
Ben Chilwell: 7. Superb for the first three months until a cruciate ligament injury curtailed his season. Once he returns to fitness, the England international will be a major player for Chelsea. EPA -
Reece James: 9. How Chelsea missed the England defender during his various injury absences. Often Chelsea's most effective attacking player when at wing-back and solid when deployed in a back three, James was consistently excellent, contributing six goals and 10 assists. Getty -
Cesar Azpilicueta: 6. Earned plenty of praise for deflecting attention away from Kai Havertz prior to the German's Club World Cup-winning penalty. But it was generally a season of decline from the captain. Azpilicueta has started to look leggy and was guilty of several individual errors. If he stays, his leadership remains important but his game time will surely decrease next season. PA -
(Midfielders) N'Golo Kante: 7. After five exemplary seasons in Chelsea blue, this was the first where Kante was below his brilliant best. Injuries were the key factor and he was a less imposing figure in midfield, particularly during the second half of the season. Still a key player for Tuchel, though. EPA -
Jorginho: 7. Did what he does by helping Chelsea retain possession and control midfields but too often the tempo was too slow when the Italian was on the pitch and dictating play. Played well in the FA Cup final, to be fair, but as he enters the final year of his contact, Tuchel will need to decide whether he renews and stays or it's time to move on. AFP -
Mateo Kovacic: 8. Once again Chelsea's standout central midfielder and he was sorely missed during a six-week injury and Covid absence. The Croatian provides so much all-round quality to the Blues midfield. Scored their goal of the season, too, with a stunner against Liverpool. EPA -
Saul Niguez: 3. Arrived on a season-long loan from Atletico Madrid with the intention of adding a new dimension to the Chelsea midfield with his pace, skill, and eye for goal. Instead, Saul barely featured after clearly struggling to adapt to the pace of English football. It's a shame because there's no doubt he's a major talent. Reuters -
Ruben Loftus-Cheek: 7. Climbed the midfield pecking order this season and rewarded Tuchel with some fine performances, mixed in with some frustratingly quiet displays. There is a nagging sense that there's still much more to come. Reuters -
Ross Barkley: 5. Limited to six league appearances and 14 in all competitions, making just four starts, Barkley is nowhere near Tuchel's plans and will likely be heading for the exit this summer. His last contribution looks set to be the final day winner against Watford. Getty -
Mason Mount: 9. A player who will always have his detractors, despite a mountain of evidence to support his quality. The England midfielder was Chelsea's best and most consistent attacking threat this season, contributing to 29 goals (13 scored, 16 assisted) across all competitions. One of the first tasks for the new owners should be to tie Mount down to a big, fat long-term contract. PA -
(Forwards) Kai Havertz: 7. Another major final winner from the German, this time at the Club World Cup, and he has definitely found a higher and more consistent level than his stop-start debut season. Still, for all his talent, there were a few too many anonymous displays. A top player, though. Getty -
Hakim Ziyech: 6. Either the best player on the pitch or a ghost, it was a frustratingly inconsistent season from the Moroccan winger. There was a spell at the start of the year when he scored three games in a row and it appeared the code had been cracked, but he was unable to maintain the form for the rest of the season. Getty -
Christian Pulisic: 5. An ankle injury at the start of the season seemed to kill the momentum he built from his superb end to the previous campaign, and the American never really got going. Popped up with some important goals but his contribution was below-par for a player who should have a key attacking role. Getty -
Callum Hudson-Odoi: 6. Contributed in parts during the first half of the campaign before an achilles injury ended his season early. Still only 21 and has a lot more to offer in the years to come but will need a run in the first team when he returns to fitness. AFP -
Romelu Lukaku: 4. The 'final piece of the jigsaw' felt more like square peg, round hole for most of the season. Lukaku looked like he would run riot on his return to Chelsea after a strong start but a goal drought, followed by injury, followed by an explosive interview saw the Belgian spend more time on the bench than on the pitch. Scored twice in two games to help Chelsea win the Club World Cup, and found some form at the end of the campaign to suggest his best can be rediscovered - if he's still there after the summer. AFP -
Timo Werner: 6. The German is a firm fan favourite for his committed displays, and his pace and direct running continued to cause opposition defences problems. Still not enough end product, though, and the goalscoring problems have continued. PA
Boehly, the CEO of investment firm Eldridge Industries, has experience of being a part-owner of major sports teams. He owns 20 per cent of Major League Baseball franchise LA Dodgers and last year acquired a 27 per cent stake in NBA team Los Angeles Lakers. He is also part-owner of WNBA team Los Angeles Sparks.
Russian-Israeli billionaire Abramovich's 19-year tenure as Chelsea owner has thus come to an end. He oversaw a successful period, changing the face of English football forever with his major investment and drive for success.
Chelsea had been operating under a special license issued by the UK government since Abramovich's assets were frozen in March and it was set to expire on May 31.
The club said they had received more than 250 enquiries from proposed purchasers, adding that 32 confidentiality agreements had been reached with interested parties.
They eventually received 12 credible bids, which were narrowed down to four before the Boehly-led consortium was chosen as the preferred bidder.
Abramovich bought the club in 2003 for a reported £140 million ($177.21 million), with his investment resulting in the most successful era in their history as they won five Premier League titles, five FA Cups and the Champions League twice.
Abramovich officially put the club up for sale on March 2, amid Russia's invasion of Ukraine. The UK government then sanctioned Abramovich on March 10, claiming to have proven his links to Putin.
Clearlake Capital co-founders Behdad Eghbali and Jose Feliciano expressed their delight at pulling off the deal for Chelsea, and pointed to a bright future.
"We are excited to commit the resources to continue Chelsea's leading role in English and global football, and as an engine for football talent development," said Eghbali and Feliciano in a joint statement.
"We also want to thank the authorities for all their work throughout the process.
"As pioneers in sports and media investing, we are thrilled to partner with Todd and the rest of the consortium to meaningfully grow the club as a global platform.
"Together, we will expand the club's investment across infrastructure, technology, and sports science to support the incredible Chelsea football and commercial teams – all with the goal of leveraging this growth to fuel even more on-pitch success."
The completion of the sale now allows Chelsea to renew transfer activity as well as permit players to sign new contracts, which was prohibited as part of the sanctions imposed. It will also allow manager Thomas Tuchel to breathe easier after the distraction of the sale affected their recent campaign.
Chelsea finished third in the recently concluded Premier League season. They lost to Liverpool in the FA Cup and League Cup finals, while they were knocked out of the Champions League in the quarter-finals by eventual champions Real Madrid.
