Chelsea’s £4.25bn sales to a consortium led by Todd Boehly and Clearlake Capital

Chelsea’s £4.25bn sales to a consortium led by American investor Todd Boehly and Private Equity firm Clearlake Capital have been completed after the consortium fought off 11 serious rivals to become the new owners in a sale process that started on 2 March and comprised more than 250 enquiries.

The Club was put up for sale in March before previous owner Roman Abramovich was sanctioned over his links to Russian President Vladimir Putin. Chelsea had been operating under a special government licence which would have expired on 31 May 22.

Boehly said that he was “honoured” and “ Wanted to make fans proud.  We are all in – 100% every minute. Our vision as owners is clear: 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.

The UK government said last Wednesday it would issue a licence for the sale of the club – does not want Abramovich to receive any of the proceeds from the sale, which will instead go into a frozen bank account to be donated to charities supporting victims of the war in Ukraine.

Boehly- Clearlake Capital consortium with Californian private equity firm owning a majority of the shares as it makes its first foray into the sport. Boehly, 48, is also a part-owner of seven-time baseball World Series champion the LA Dodgers, US Women’s basketball team the Los Angeles Sparks and NBA franchise the Los Angeles Lakers, and also invested in Bruce Springsteen’s song rights, a sports betting firm and restaurant chains.

Other investors include US billionaire Mark Walter, a co-owner of the LA Dodgers with a stake in the Lakers likely Boehly, and Swiss billionaire Hansjorg Wyss.

Abramovich bought Chelsea for £140m in 2003.

Under his ownership, the club won every major trophy – two Champions Leagues, five Premier Leagues, five FA Cups, two Europa Leagues and three EFL Cups. In August 2021 they won the UEFA Super Cup and in February their first Club World Cup. Abramovich has appointed 13 managers and the club has spent more than £2bn in the transfer market under his ownership. Chelsea’s women’s team, which became affiliated with the Chelsea FC in 2004, has won five Women’s Super League titles and four FA Cups under Abramovich.