May 27, 2022

Chelsea Officially Sold to American Billionaire

The government of the United Kingdom has allowed the sale of Chelsea Football Club.

After months of uncertainty, the UK government and the English Premier League provided official approval on Tuesday night, 24 May, for a consortium headed by American investor and philanthropist, Todd Boehly, to purchase the Blues for £4.25 billion from sanctioned former owner, Roman Abramovich.

Abramovich was disqualified as director of the club in March on the basis of his close ties to Russian President Vladimir Putin, following the Russian invasion of Ukraine the month before.

Abramovich snatched up the west London team for roughly £140 million in 2003.

The sale saw multiple delays as authorities wanted to ensure that the Russian oligarch did not benefit from the deal. The sale occurred just before the imposed 31 May deadline, up to which no existing player contracts could be renewed – lest they face transfer bans – or tickets bought and sold for matches.

Per reports, Boehly is expected to provide Chelsea coach, Thomas Tuchel, with £200 million to buy players during the next transfer window.

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