Roman Abramovich has completed the sale of Chelsea and related companies to an investment group led by Todd Boehly and Clearlake Capital, the Premier League club said on Monday, ending a three-month process to sell the club.
The consortium, which won the bid to acquire the London side earlier this month, received approval from the Premier League and the British government last week for the sale to go ahead. A final agreement was reached on Saturday.
Russian owner Roman Abramovich put the club up for sale in March following Russia’s invasion of Ukraine.
The sale also needed the green light from the Portugal government after Abramovich became a citizen there and is under European Union sanctions.
The consortium also includes Swiss business tycoon Hansjoerg Wyss and Mark Walter. Chelsea’s previous owner Roman Abramovich bought the club in 2003 for a reported $177.21 million.
The completion of the sale allows Chelsea to renew transfer activity and extend contracts with their players, which was prohibited as part of the sanctions imposed.
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