Chelsea F.C Get New Owners

 

Roman Abramovich is no longer the owner of Chelsea as a Todd Boehly's consortium has become the new boss of the London-based Premier League club. 

It was announced on Saturday that the consortium agreed to a £4.25 billion ($5.2b) deal for the takeover with Raine Group, the US bank overseeing the sale if the club. 

Todd Boehly hold the larger portfolio in the consortium and that made him top owner replacing the Russian billionaire, who put the club up for sale after facing series of sanctions following the crisis between his country and Ukraine.

The club also revealed that the sale is yet in progress and should be completed by late May. However, the sum of £2.5b from sale will be to purchase shares in the club and the proceeds from that will go towards charitable courses as demanded by the former owner. 

Also, the sum of £1.75b will be put towards further investments for the club such as Stanford Bridge the Academy and others, and like wise, to ensure provision of funds for the Chelsea Foundation.