Todd Boehly takes over Chelsea football club

The Todd Boehly-led consortium has finally bought Chelsea for £4.25bn to end the Roman Abramovich era.

The consortium stated that they are “committed to investing in key areas that will extend and enhance Chelsea’s competitiveness, including the redevelopment of Stamford Bridge, further investment in the academy, the women’s team and Kingsmeadow stadium”.

Boehly said the consortium “is honoured to become the new custodians of Chelsea Football Club. We’re all in – 100 per cent – every minute of every match.

“Our vision as owners is clear: We want to make the fans proud. Along with our commitment to developing the youth squad and acquiring the best talent, our plan of action is to invest in the club for the long-term and build on Chelsea’s remarkable history of success.”

“I want to thank ministers and officials in the British government, and the Premier League, for all their work in making this happen.”

A statement from the new owners made it clear that Boehly and Clearlake will “share joint control and equal governance of the club”, while “Boehly will serve as chairman of the holding company”.