Abramovich’s era is coming to an end: the British government has given the green light to acquiring the Chelsea soccer club, which is being sought by a consortium led by an American businessman.
Russia’s invasion of Ukraine ended two decades of leadership at the West London club of multi-billionaire Roman Abramovich, making it a major player in Premier League and European football. He could now give it to the group led by American Todd Boehly.
The government announced on Wednesday that it had approved the consortium’s 4.25 billion pounds (C $ 6.82 billion) offer, as the Premier League did on Tuesday. After this green light from London, European authorities still have to give their approval but it is considered a formality, according to the BBC.
Amid the turmoil following Russia’s invasion of Ukraine, the London-sanctioned Russian billionaire sold the club on March 2, insisting he did not seek repayment of loans the club took throughout his 19-year leadership and all proceeds from the operation will go to the victims of the battle.
After a lengthy bidding process involving several groups, it was up to Mr. Boehly and his investor partners to be selected by New York bank Raine Group, which oversaw the sale.
The group of investors consists, in addition to Mr. Boehly, of Mark Walter, of whom he is co-owner of the Los Angeles Dodgers, of Swiss billionaire Hansjoerg Wyss, founder of the medical equipment manufacturing company Synthes, and of the American investment firm Clearlake Capital.
Given the sanctions we have imposed on people associated with Putin and the bloody invasion of Ukraine, the long-term future of the club can only be assured by a new owner.estimated on Twitter the British Minister for Culture, Media and Sport, Nadine Dorries.
We are confident that the proceeds from the sale will not benefit Roman Abramovich or the other persons authorized. I would like to thank everyone, especially those concerned who tirelessly worked hard to keep the club performing and made this sale possible, protecting the fans and the wider football community.
under good supervision
Since March 2, the club has been playing in the Premier League thanks to a special license that prevents it from offering new contracts to its players or from recruiting them.
The government made sure it wanted it now start the process to ensure that the proceeds from the sale are used for humanitarian purposes in Ukraine, supporting the victims of war.
Bought by Mr. Abramovich ang Blue ones in 2003 for 140 million pounds. Thanks to the financial manna of the oligarch close to the Kremlin, Chelsea, until then a second knife of English football, suddenly transformed into a major player at national and European level, accumulating in particular five Premier League titles and two Champions Leagues. (2012, 2021).
This season, Chelsea finished third in the Premier League and qualified for the next Champions League. The club lost the League Cup and FA Cup finals, both times to Liverpool. When the sale is made, the Blue ones will be able to fully resume their activities and reconfigure the team.
According to the British daily The TelegraphTodd Boehly promised coach Thomas Tuchel a budget of approximately 200 million pounds (C $ 321 million) to recruit, part of which could come from the sale of some players.
The German coach should also lose defenders Antonio Rudiger and Andreas Christensen who were transferred for free to Real Madrid and Barcelona.
In an interview on the Chelsea site conducted prior to the confirmation of the sale, Thomas Tuchel explained that the club is running a big loss and must be agile in the transfer market.
Source: Radio-Canada
