Chelsea news: New era at Stamford Bridge as Todd Boehly's consortium completes £4.25bn takeover

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The 48-year-old's consortium finalised the record-breaking sale from Roman Abramovich on Monday, marking the first change of ownership at the club in two decades.

The consortium had to fight off 11 other rival bids in order to win the race for the Stamford Bridge outfit, during a sale process which lasted for three months.

Control and governance of the Premier League club will now be shared between Boehly and main partner, Clearlake Capital investment firm. Los Angeles Dodgers co-owner Boehly will also serve as chairman of the holding company, confirming his status as controlling owner - a set-up which was made possible due to his close relationship with Clearlake boss Behdad Eghbali.

"We are honoured to become the new custodians of Chelsea Football Club," Boehly said.

"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.

Chelsea
Chelsea

"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." Swiss billionaire Hansjorg Wyss and US tycoon Mark Walter are two other key members in Boehly's consortium. Clearlake Capital co-founders Eghbali and Jose Feliciano also revealed their delight at pulling off the deal for Chelsea.

In a joint-statement, they said: "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. "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."

Chelsea FC owner Roman Abramovich
Chelsea FC owner Roman Abramovich

The sale officially marks the end of Roman Abramovich's 19-year tenure as Chelsea owner. During his time at the club, the Russian-Israeli billionaire led the club to 19 major trophies and arguably changed the landscape of the sport with his lavish spending habits in the transfer market.

The article Chelsea news: New era at Stamford Bridge as Todd Boehly’s consortium completes £4.25bn takeover appeared first on Planetsport.com.

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