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Chelsea confirmed on Saturday 7th May that a deal had been agreed for the sale of the London football club to Todd Boehly.
After facing sanctions by UK government due to Russia's invasion of Ukraine, Abramovich put the club up for sale in March this year. Abramovich bought the Blues for $231 million (£140 million) in 2003.
It seem he was definitely not happy to sell the club. In statement made on the Chelsea website he explained how it had been a difficult decision but felt it was in the clubs best interests.
Todd Boehly, a 46-year-old American businessman, who is worth around $4.5 billion, according to Forbes magazine.
Boehly is seriously involved in U.S. professional sports, most notably as part-owner of Major League Baseball team LA Dodgers. His personal stake in the LA Dodgers is reported to be 20 percent.
Boehly also has a minority stake in the NBA basketball team LA Lakers and the Sparks, with his ownership group buying a 27 percent stake in the club. Boehly is the co-founder, CEO and chairman of Eldridge Industries.
Quite a bit actually! He attended the London School of Economics in the 90s and also worked for Citibank in London.
Evening Standard reports that he is a 'down-to-earth billionaire'. Boehly made a trip to Stamford Bridge last month and he made a point of going in with the general public to take in the atmosphere - walking the perimeter of the stadium and rejecting the executive seats.
According to theancestry.com Todd Boehly’s grandparents are of German descent, but have spent most of their lives in the United States. Boehly lives in Darien, Connecticut with his wife Katie and their sons Nick, Zach, and Clay.
If his past is anything to go by, yes. Boehly has overseen one of the highest-spending baseball teams of the last decade. The Dodgers also have the highest payroll in baseball. So watch out Manchester City and Newcastle.
It would appear so - all that heavy spending has helped push the club to three World Series appearances during his ownership, winning the title in 2020.
According to the Daily Mail, Boehly will start their transfer plans with heavy investment. They fear they lost out on the last transfer window after sanctions on Roman Abramovich froze the clubs assets.
Boehly will be aware of the importance of improving the squad to ensure they continue to be competitive with Man City and Liverpool next season. This year they started the season well but then Chelsea fell away from the title race.
One or two, mainly what to do with Lukaku - the 97.5 million investment who has not been happy since his return to Chelsea last year. Lukaku had given a controversial interview with Sky Sport Italia in December where he told the press he was "not happy with the situation" at Chelsea.
Yes, the sanctions left Chelsea unable to agree new contracts - leaving themselves in a dangerous position with a number of players' contracts due to expire. On top of that, they were also not permitted to sell tickets or merchandise.
The club have already lost Andreas Christensen and Antonio Rudiger to free transfers so focusing on defence must be one of Boehly's priorities.
Sportsmail reported this week that one of Boehly's main priorities was to agree contract extensions with Mason Mount and Reece James.
Now the club's future seems a lot more stable with Boehly ready to take over, let's hope he is ready to put his money in the right place and give the manager the reinforcements he needs to compete with the teams at the front of the Premier League race.