Classic ROMAN! See the three things Roman Abramovich mandated before selling Chelsea to Todd Boehly
Finally, Roman Abramovich is no longer the owner of Chelsea Football Club.
The Russian billionaire has finally completed the sale of the club to a consortium led by Todd Boehly.
The club’s official website has released a statement that detailed just what Roman Abramovich wanted from the new owners.
Firstly, Abramovich stipulated that the new owner must be a good steward of the Club, and that the net proceeds of the sale must be donated to charity. Finally, Abramovich assured that he would not seek the repayment of the debt owed him by the club.
The Board of directors released a statement, thus: “Roman Abramovich has completed the sale of Chelsea Football Club and related companies to an investment group led by Todd Boehly and Clearlake Capital.
“This sale process commenced on 2 March, when Mr. Abramovich announced his intention to sell the Club after 19 successful years of ownership. In selling the Club, Mr. Abramovich stipulated that the new owner must be a good steward of the Club, the net proceeds of the sale must be donated to charity, and that he would not seek the repayment of loans made to affiliates of the Club.
“Following this announcement, the Board of Directors and senior staff at the Club immediately commenced work on the sale transaction. Raine, a global merchant bank chosen by the owner to run the sale process, has significant expertise and experience advising premium sports clubs on mergers and acquisitions and advised the owner and the Club in the process.”