Chelsea Takeover: Todd Boehly consortium acquires Chelsea FC – The takeover of Chelsea FC is finally complete. The consortium led by Todd Boehly has officially completed the acquisition of the London-based club. With the deadline being set by the end of this month, Chelsea Football Club sees the end of the Roman Abramovic era. Follow English Premier League Live and Football Live Updates with InsideSport.IN
The consortium also includes Hansjörg Wyss, founder of the Wyss Foundation, and Mark Walter, co-founder, and CEO of Guggenheim Capital. Walter and Boehly are owners of the Los Angeles Dodgers, the Los Angeles Lakers, and the Los Angeles Sparks. The transaction has received all necessary approvals from The Government of the United Kingdom, The Premier League, and other authorities.
Chelsea Takeover: Blues confirm official TAKEOVER before UK government deadline, Todd Boehly Become New OWNER as Roman Abramovich era ends
Following Russia’s invasion of Ukraine, the UK Government imposed sanctions on former Chelsea owner Roman Abramovich and all his assets. This led to the government forming a committee to set up the sale of the club. With a deadline being imposed on 31st May, Chelsea confirmed the takeover of the club within 24 hours of the deadline.
Under the terms of the agreement, Boehly and Clearlake will share joint control and equal governance of the Club. Boehly will serve as Chairman of the holding company.
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.
Official. Chelsea confirm Clearlake-Boehly are now in control of the club. 🚨🔵 #CFC
“Roman Abramovich has completed the sale of Chelsea Football Club and related companies to an investment group led by Todd Boehly and the Clearlake Capital”, club statement confirms.
— Fabrizio Romano (@FabrizioRomano) May 30, 2022
Chelsea Takeover: Blues confirm official TAKEOVER before UK government deadline, Todd Boehly Become New OWNER as Roman Abramovich era ends
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“We are honoured to become the new custodians of Chelsea Football Club,” said Boehly. “We’re all in – 100% — every minute of every match. Our vision as owners is clear: we want to make the fans proud. Along with our commitment to developing the youth squad and acquiring the best talent, our plan of action is to invest in the Club for the long-term and build on Chelsea’s remarkable history of success. I personally want to thank ministers and officials in the British government, and the Premier League, for all their work in making this happen.”
Behdad Eghbali and José E. Feliciano, Clearlake co-founders and managing partners, said, “We are excited to commit the resources to continue Chelsea’s leading role in English and global football, and as an engine for football talent development. We also want to thank the authorities for all their work throughout the process.”
“As pioneers in sports and media investing, we are thrilled to partner with Todd and the rest of the consortium to meaningfully grow the Club as a global platform. Together, we will expand the Club’s investment across infrastructure, technology, and sports science to support the incredible Chelsea football and commercial teams – all with the goal of leveraging this growth to fuel even more on-pitch success.”
Chelsea Takeover: Blues confirm official TAKEOVER before UK government deadline, Todd Boehly Become New OWNER as Roman Abramovich era ends
The new ownership group wishes to recognise the dedication and professionalism of the Department for Digital, Culture, Media and Sport, HM Treasury, and the Premier League in conducting their reviews of this historic and complex transaction.
Deutsche Bank, Goldman Sachs, Moelis & Company LLC, and Robey Warshaw LLP served as financial advisors to the new ownership group. Latham & Watkins LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Sidley Austin LLP served as legal counsel.
The Raine Group served as exclusive financial advisor to Fordstam Limited and Chelsea FC. Northridge Law LLP, Simmons & Simmons LP, and Pillsbury, Winthrop, Shaw, Pittman LP served as legal counsel.
Chelsea Takeover: Blues confirm official TAKEOVER before UK government deadline, Todd Boehly Become New OWNER as Roman Abramovich era ends
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