Chelsea is being sold to a consortium fronted by American sports investor Todd Boehly, ending 19 years of ownership and lavish investment by Roman Abramovich until the Russian oligarch was sanctioned and forced to offload the Premier League club.
The sale price of £2.5 billion ($3.1 billion) is the most lucrative ever for a sports team worldwide but Mr. Abramovich cannot receive the proceeds, which he hopes will go to a foundation for the victims of the war in Ukraine. A further £1.75 billion ($2.2billion) is committed to be invested in the reigning FIFA Club World Cup winners.
