Chelsea officially has a new owner

club Chelsea announced that the transfer of ownership of the football team from billionaire Roman Abramovich to an investor group led by Todd Boehly has been completed.

The new owners spent £2.5 billion to buy back shares of the team. At the same time, commit to investing at least 1.75 billion pounds more to invest in the club, including the restoration and maintenance of Stamford Bridge, purchasing training equipment for the youth training center and the team. Chelsea Women’s Club, upgrading Kingsmeadow (home ground of Chelsea Women’s Club) and continuing to maintain the Chelsea Fund for social activities.

In the acquisition of ownership of Chelsea, Boehly joined hands with many big investors, including financial group Clearlake Capital and Swiss billionaire Hansjorg Wyss.

The £2.5 billion that Todd Boehly and his associates pledged to spend will be transferred to Roman Abramovich’s frozen bank account. This deal, therefore, needs special permission from the British government.

Todd Boehly, 49, is a German-American billionaire. Boehly is currently the Chairman of the international group Guggenheim Partners, and the CEO and founder of the investment firm Eldridge Industries. Boehly’s assets are estimated at £4 billion. Besides, he also has shares in many sports clubs in the US such as the Los Angeles Dodgers baseball team and 2 basketball teams Los Angeles Lakers (men) and Los Angeles Sparks (women).

In 2019, Boehly asked to buy Chelsea for £2.2 billion but was refused by Abramovich.

At this moment, Chelsea is temporarily ranked 3rd in the Premier League 2021/22 with 66 points after 34 matches, more than the 4th ranked team Arsenal 3 points. Although he was no longer able to compete for the Premier League title and was Real Madrid eliminated in the quarter-finals of the Champions League, but the Blues still have a chance to win the title this season if they can beat it Liverpool in the FA Cup Final on May 14.