Todd Boehly-led consortium acquires Chelsea football club

By Can Erozden

ANKARA (AA) - A consortium led by US businessman Todd Boehly completed its Chelsea takeover on Monday, the English Premier League club confirmed.

"The consortium led by Todd Boehly, chairman and CEO of Eldridge, and Clearlake Capital Group, L.P. (together with its affiliates, 'Clearlake'), today announced completion of the ownership transfer of Chelsea Football Club," the Blues said on its website.

The consortium also includes Hansjorg Wyss, the founder of the Wyss Foundation, and Mark Walter, co-founder and CEO of Guggenheim Capital, Chelsea said.

The Wyss Foundation is a charity based in Washington and Guggenheim Capital is a global investment and financial services firm with headquarters in New York.

Boehly, 48, is the partial owner of the Los Angeles Dodgers baseball team, the NBA franchise Los Angeles Lakers, and Women's NBA franchise Los Angeles Sparks.

The £4.25 billion ($5.2 billion) takeover was approved two months after Russian billionaire Roman Abramovich decided to sell the English club in March.

"The transaction has received all necessary approvals from The Government of the United Kingdom, The Premier League, and other authorities," Chelsea said.

According to the agreement, Boehly and Clearlake will have a joint control of the club and Boehly will serve as chairman of the holding company.

The deal ended Abramovich's 19-year ownership of Chelsea.

"We are honoured to become the new custodians of Chelsea Football Club," Boehly said.

"Our vision as owners is clear: we want to make the fans proud," he added.

Abramovich was disqualified as club director by the Premier League amid a slew of sanctions against Russia because of Moscow's war on Ukraine.

He had purchased Chelsea for a reported £140 million ($187 million) in 2003, and signed many star players to build a powerful team.

Chelsea became one of the top European clubs under Abramovich's ownership, winning several major titles, including two UEFA Champions League, two UEFA Europa League, and five Premier League trophies.