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Abramovich completes Chelsea sale

Abramovich completes Chelsea sale

London (Reuters)

English Premier League club Chelsea said Roman Abramovich has completed the procedures for selling the club to a coalition led by Todd Poli and Clearlake Capital.
The alliance received approval from the Premier League and the British government over the past week, and a final agreement was reached on Saturday.
Russian Abramovich, who is sanctioned by the British government, put the London club up for sale in early March after Russia’s invasion of Ukraine, which Moscow described as a “special military operation”.
Chelsea added in a statement: “When selling the club, Abramovich stipulated that the club be under good leadership, that the net proceeds from the sale be donated to charities, and that he not seek to recover the loans he made to the club.”
Chelsea announced in a separate statement that Polly and Klerlake would share equal control and governance of the club. Polly, one of the owners of the Los Angeles Dodgers, will serve as chairman of the holding company.
Polly said: “We are honored to be the new owners of Chelsea Football Club. We will be 100 percent present in every minute of every match. Our vision as owners of the club is clear that we want to make the fans proud, along with our commitment to developing the youth team and bringing in the best talent. Our plan is to invest in the club for the long term and build on the successful history of Chelsea.
He added: “Personally, I would like to thank ministers and officials in the British government and in the Premier League for their efforts in making this happen.

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