Chelsea takeover completed as new owner releases first official statement

The takeover of Chelsea football club has finally been completed.

Chelsea were sanctioned in March due to the involvement of their former owner, Roman Abramovic in the Russia vs Ukraine war.

The sanctions forbade Chelsea from extending player contracts as well as making new signings until they had a new owner.

It took months of negotiations with so many bids turned down for different reasons as we as the structure of the purchase of the club being complicated due to the ban on Abramovic.

Todd Boehly’s bid was finally accepted in late April and the takeover is finally official.

On the acquisition, Todd Boehly said:

We are honoured to become the new custodians of Chelsea Football Club, We’re all in – 100% — every minute of every match.”

Todd Boehly also outlined his vision for the club as thus:

Todd Boehly: “Our vision as owners is clear: we want to make the fans proud. We are also committed to developing the youth squad and acquiring the best talent. Our plan is to invest in the Club for the long-term and build on Chelsea’s remarkable history of success.”

Following the takeover, Chelsea are now as free as any other English club to do businesses within the legal means allowed by the English Law.