A consortium led by American businessman Todd Boehly has successfully completed a takeover of Chelsea football club. Ex-owner Roman Abrahamovic had put the West London outfit on sale owing to geopolitical tensions in Ukraine and consequent economic sanctions. Boehly has now completed a £4.25billion deal, approved by the UK government. They were operating on a special license, which was due to end at the end of May.
It was a long bidding process, overseen by US merchant bank Raine Group. But now Boehly is set to assume the position as the controlling owner of Chelsea. California investment firm Clearlake Capital will hold the majority of the shares.
It would be imperative for Boehly to get the ball rolling quickly. The club will see many departures of key players this summer. They include Cesar Azpelicueta, Antonio Rudiger, Andreas Christensen and Marcos Alonso. Defensive reinforcements will hence be a priority. New contracts for key players should also be a priority. Improved deals for Cobham graduates Mason Mount and Reece James are on the cards.
Boehly Era Begins At Stamford Bridge
Chelsea fans are understandably not happy with the departure of Abrahmovic. However, oligarch was one of the major reasons for their rise in the 21st century, and he deserves a lot of credit for his work.
In a parting message, Roman wished the new owners well.
I am pleased this search has now come to a successful conclusion. As I hand over Chelsea to its new custodians, I would like to wish them the best of success, both on and off the pitch.
But Chelsea fans can be optimistic about the future. Boehly has proven to be a good owner, as he has proven with his baseball team LA Dodgers in the previous years. Significant investment can be expected in the summer.
Follow us on Twitter for more football updates.