Chelsea Football Club are finally under new ownership as of Monday, May 30th, beginning a new era at the club.
A statement released by the club reads: "Roman Abramovich has completed the sale of Chelsea Football Club and related companies to an investment group led by Todd Boehly and Clearlake Capital."
Abramovich had owned Chelsea since 2003 but his reign ended after 19-years in charge. The 55-year-old announced his intention to sell the club back in March, just before he was sanctioned by the UK Government following Russia's invasion of Ukraine.
READ MORE: Chelsea told by UK Government when sanctions are lifted as Todd Boehly completes takeover
With the Russian's assets frozen, the Blues were placed under a special sporting licence, restricting their actions until a new regime was ushered in. US Banking firm Raine were left in charge of overseeing the process, eventually deciding that a consortium led by American businessman Todd Boehly was the preferred bidder.
After months of concern and work, Boehly, joined by majority shareholder Clearlake Capital, finally took control. Their official statement read: "Boehly and Clearlake are committed to investing in key areas that will extend and enhance Chelsea’s competitiveness, including the redevelopment of Stamford Bridge, further investment in the Academy, the Women’s Team, and Kingsmeadow stadium. The owners will also continue the important work of the Chelsea Foundation."
Chelsea fans will of course be wondering whether they've got the right team in place to takeover from Roman Abramovich, who has invested so much into the club over the past two decades. That being said, it looks like they don't need to worry about proceedings too much.
That's because the American is a very rich man. As per networth.com, Boehly's current net worth sits at £4.72billion. He is the co-founder, chairman and CEO of Eldridge Industries. Eldridge is a holding company with offices in New York, Boston and London, and have a history of investment in industries including technology, media, real estate and sport.
Chelsea won't be Boehly's only sporting adventure either, as he's already a part-owner of Los Angeles Dodgers. Whether that experience will help him ease into his role at Stamford Bridge remains to be seen, but the Blues faithful will be glad to know that he made a £2.2billion bid to buy Chelsea from Abramovich in 2019, an offer that was swiftly rejected.
But how does his net worth compare to other owners according to Forbes? Arsenal boss Stan Kroenke's stands at £8billion while the Glazers are worth £3.7billion. The Fenway Sports Group that owns Liverpool is valued at around £5.6billion. It is of course worth remembering that Boehly will not be alone in his investment, however. Hansjorg Wyss is set to join him with a net worth of £4billion, while Clearlake Capital will be the majority owner.
