New Chelsea owner Todd Boehly has made known his plans for the club after he completed a takeover from Roman Abramovich on Monday.

The American said he has a simple vision for the club, which is to make the fans proud.

The business mogul and his consortium paid a whopping sum of £4.25bn to buy the Stamford Bridge outfit from Abramovich.

Following the UK government’s sanction on Abramovich over the conflict in Ukraine, the Russian oligarch was forced to sell the west London club.

The consortium that now owns the Blues includes Clearlake Capital Group as well as billionaires Hansjorg Wyss and Mark Walter.

The American leader of the consortium, Boehly, is now planning to invest in new players and develop homegrown talent.

A statement from Boehly read: “We are 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 personally want to thank ministers and officials in the British government and the Premier League for all their work in making this happen.”