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Boehly officially replaces Abramovich as Chelsea owner

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SPORTS NEWS: Boehly officially replaces Abramovich as Chelsea owner [New Sports News] » Naijacrawl
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The Todd Boehly-led consortium on Monday completed a £4.



25bn takeover of Chelsea.

It brings to an end Roman Abramovich’s 19-year ownership of the club.

The new owners, in a statement, said 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,” adding they will “continue the important work of the Chelsea Foundation."

After months of negotiations, the deal was finally approved last week when the government received legal guarantees that Abramovich would not benefit from the sale.

The proceeds from this sale will be frozen in a UK bank account until the government receives more assurances that the funds will solely go to support humanitarian causes in Ukraine.

Boehly set out his consortium’s vision in a statement on Chelsea’s website and added: “I personally want to thank ministers and officials in the British government, and the Premier League, for all their work in making this happen.”

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Todd Boehly: 5 things to know about Chelsea new owner

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SPORTS NEWS: Todd Boehly: 5 things to know about Chelsea new owner [New Sports News] » Naijacrawl
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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-ow...
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Roman Abramovich loan status clarified in official Chelsea statement on takeover

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SPORTS NEWS: Roman Abramovich loan status clarified in official Chelsea statement on takeover [New Sports News] » Naijacrawl
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Roman Abramovich has not asked for any loan to be repaid to him during the sale process of Chelsea, nor has he attempted to increase the price of the club during the takeover, according to a spokesperson on behalf of the Russian.When Abramovich put Chelsea up for sale at the start of March in the aftermath of Russia's invasion of Ukraine, he stated he would be writing off the £1.5bn debt owed to him in addition to all net proceeds of the sale being donated to a foun...
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Shortlisted Chelsea bidders to make cash purchase as Abramovich sorts debt

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SPORTS NEWS: Shortlisted Chelsea bidders to make cash purchase as Abramovich sorts debt [New Sports News] » Naijacrawl
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According to the PA news agency, all four shortlisted bids to buy Chelsea Football Club will be totally supported by cash.Steve Pagliuca's Chelsea bid will be debt-free, like the other three competing offers.The four shortlisted consortiums have until Thursday to make their final offers to Raine Group, an American investment bank.Raine will then select a preferred bidder, with Chelsea's sale set to take place next month.The Blues' sales could reach 3 billion pounds,...
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