Todd Boehly, an American millionaire, was formally revealed as Chelsea's new owner on Saturday.

Chelsea confirmed via their website that arrangements have been completed for the new ownership group led by Boehly to purchase the Stamford Bridge club.

Following the completion of his £3.5 billion takeover, Boehly replaces Roman Abramovich, who owned Chelsea for 19 years.

The Raine Group, the US bank handling the sale, nominated his consortium, which includes Dodgers co-owner Mark Walters, British businessman Jonathan Goldstein, Swiss billionaire Hansjorg Wyss, and US investment firm Clearlake Capital, as the preferred bidder to take over Chelsea.

What are some of the things you need to know about the new Chelsea owner?

1. Boehly is 46 years old, according to Forbes, worth around £3.6 billion ($4.5bn).

2. He is already a part-owner of both the Los Angeles Lakers and the Los Angeles Dodgers. He holds a 27 per cent stake in the Lakers and a 20 per cent stake in the Dodgers.

3. This is not the first time Boehly has shown an interest in football either, with reports suggesting that he tried to buy the West London club back in 2019 as well. Luckily, the sanctions against Roman Abramovich following Russia’s invasion of Ukraine, gave him the chance to finally make his move.

4. Boehly’s career began as CS First Boston in New York in 1996, a division of Credit Suisse, after graduating with a degree in finance. He then moved to JH Witney & Co and then to Guggenheim Partners in 2001.

5. Boehly has worked alongside Mark Walter for a considerable length of time, with the latter also part of the Chelsea consortium. Boehly is also known for his philanthropy, having invested in a number of charities.