Later News May 07

Abramovich accepts Boehly’s offer to purchase Chelsea

After months of uncertainty, political manoeuvring, and reports of offers and counter-offers, Chelsea have finally found themselves a new sugar daddy owner.


Roman Abramovich has finally agreed to sell the London club to a consortium led by American businessman Todd Boehly, who is the part-owner of Major League Baseball side LA Dodgers.


The proposed deal, however, has yet to be given the green light by the English Premier League (EPL) and the UK Government..


WATCH: Thomas Tuchel reacts to Abramovich's Chelsea departure


The Boehly consortium won the bid ahead of other consortiums led by Sir Jim Ratcliffe, Stephen Pagliuca and Sir Martin Broughton – three names, who let’s face it, are as foreign to you as the concept of winning is to Norwich City.


Chelsea had until the end of this month to find themselves a new owner, or they would have been denied a license to operate in England next season.


The sale of Chelsea will come as a relief to Blues fans, following rumours that Abramovich was looking for the £1.5billion (S$2.56bn) loan to be repaid, with the UK government – the very beacon of integrity and honesty itself – stating that they will not sanction the sale if Abramovich receives any of the proceeds. 


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However, the Russian oligarch subsequently came out to debunk those rumours, and reiterated his commitment to directing all proceeds from the sale to charitable organisations.


In a statement released on the Chelsea club website, a spokesperson for Abramovich said: “Firstly, Mr Abramovich's intentions in relation to gifting the proceeds from the Chelsea sale to charity have not changed.


"Since the initial announcement, Mr Abramovich's team has identified senior representatives from UN bodies and large global charitable organisations who have been tasked with forming a Foundation and setting out a plan for its activities. The lead independent expert has had conversations with Government representatives presenting the structure and initial plans.


“Mr Abramovich has not been involved in this work and it has been managed independently by experts with years of experience working in humanitarian organisations.


“Secondly, Mr Abramovich has not asked for any loan to be repaid to him - such suggestions are entirely false - as are suggestions that Mr Abramovich increased the price of the Club last minute. As part of Mr Abramovich's objective to find a good custodian for Chelsea FC, he has however encouraged each bidder throughout this process to commit investing in the Club - including in the Academy, Women's team, necessary redevelopment of the stadium as well as maintaining the work of Chelsea Foundation.”


Chelsea, whose only hope for a trophy this season comes in the FA Cup, where they will meet quadruple-chasing Liverpool in the final, will take on Wolves in the EPL tonight.




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