IT is now official that the 19 years of Roman Abramovich era has come to an end as Todd Boehly-Clearlake consortium completes £4.25bn takeover of Chelsea Football Club.
The purchase agreement was signed a fortnight ago and has been waived through by the Premier League Owners' and Directors' test, while the UK government, Portuguese authorities and European Union (EU) have all approved the financial transaction.
The total investment to secure the club cost £4.25 billion ($5.2bn), with £2.5bn ($3.2bn) ending up being the sale price of the club, while there is an agreement in place that £1.75bn (2.1$bn) will be invested over 10 years.
A part of the lengthy statement released by the club on Monday afternoon begins with: "Roman Abramovich has completed the sale of Chelsea Football Club and related companies to an investment group led by Todd Boehly and Clearlake Capital."
The Chelsea take over was led by Todd Boehly who is the co-owner of Major League Baseball's (MLB) Los Angeles Dodgers and a minority investor in the National Basketball Association (NBA) team LA Lakers. He had tried to buy Chelsea in 2019 for £2.2bn ($2.7bn), but was rejected.
