The long-running saga of the Chelsea FC sale is now finally, officially, over. Yes, the southwest London club has now changed hands, for the low low price of just £4.25 billion ($5.33 billion), as the United Kingdom government has now granted to the consortium led by Todd Boehly and Clearlake.
Chelsea was placed on the trading block after Roman Abramovich was sanctioned by the UK government for his strong financial ties to Vladimir Putin following Russia’s illegal invasion of the Ukraine.
“Late last night the UK government reached a position where we could issue a licence that permits the sale of Chelsea,” the UK government statement reads.
It’s Todd Boehly ball now Chelsea fans, as the Los Angeles Dodgers co-owner assumes the reins. Blue is the color indeed, all around. Most importantly, 10 Downing Street is ensuring that Abramovich doesn’t see a single cent of profit off this sale.
The Russian oligarch pledged to donate all of the money to the victims of this horrific war that his BFF started.
“Following the sanctioning of Roman Abramovich, the government has worked hard to ensure Chelsea has been able to continue to play football. But we have always been clear that the long-term future of the club could only be secured under a new owner,” the statement continues.
“Following extensive work, we are now satisfied that the full proceeds of the sale will not benefit Roman Abramovich or any other sanctioned individual.
“We will now begin the process of ensuring the proceeds of the sale are used for humanitarian causes in Ukraine, supporting victims of the war.
“The steps today will secure the future of this important cultural asset and protect fans and the wider football community. We have been in discussions with relevant international partners for necessary licences required and we thank them for all their cooperation.”
Hopefully, this large sum of money will go to the people who need it the most. There is more than enough bad news filling our world every single day. It would be nice to see some good news again.
Best of luck to Todd Boehly and his cronies.
Paul M. Banks is the owner/manager of The Bank (TheSportsBank.Net) and author of “Transatlantic Passage: How the English Premier League Redefined Soccer in America,” as well as “No, I Can’t Get You Free Tickets: Lessons Learned From a Life in the Sports Media Industry.”
He has regularly appeared in WGN, Sports Illustrated and the Chicago Tribune, and he co-hosts the After Extra Time podcast, part of Edge of the Crowd Network. Follow him on Twitter and Instagram.
