Roman Abramovich is no longer the owner of Chelsea Football Club.
Thank you for reading this post, don't forget to subscribe!The sale of the club to a partnership managed by Todd Boehly was ultimately completed by the Russian oligarch.
The club’s official website has issued a statement outlining Roman Abramovich’s expectations of the new owners.
First and foremost, Abramovich stated that the new owner must be a worthy steward of the Club, with the net revenues of the transaction going to charity. Finally, Abramovich stated that he would not pursue the club for reimbursement of the amount owing to him.
“Roman Abramovich has concluded the sale of Chelsea Football Club and affiliated entities to an investor consortium managed by Todd Boehly and Clearlake Capital,” the Board of Directors said in a statement.
“The sale began on March 2nd, when Mr. Abramovich revealed his desire to sell the Club after 19 years of successful ownership. Mr. Abramovich stated in his sale of the Club that the new owner must be a good steward of the Club, that the net revenues of the transaction must be donated to charity, and that he would not pursue repayment of Club affiliate loans.
“As soon as this news was made, the Club’s Board of Directors and top personnel got to work on the selling transaction.” Raine, a worldwide merchant bank chosen by the owner to handle the transaction, has extensive experience advising premium sports clubs on mergers and acquisitions, and helped both the owner and the Club throughout the process.”
