Chelsea's £4.25 billion takeover completed

Chelsea's £4.25 billion (AED 19.7 billion) sale to a consortium led by American investor Todd Boehly and Clearlake Capital has been completed.

Previous owner Roman Abramovich put the club up for sale in March before he was sanctioned by the UK Government over his links to Russian president Vladimir Putin.

Chelsea had been operating under a special government licence which would have expired on today.

Todd Boehly said in his first statement to the club that he was "honoured" and promised to build on the “remarkable history of success”.

"We are honoured to become the new custodians of Chelsea Football Club," he said.

"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."

Consortium led by Todd Boehly and Clearlake Capital completes acquisition of Chelsea Football Club.

— Chelsea FC (@ChelseaFC) May 30, 2022

Chelsea have previously been unable to make signings, sell players and hand out new deals but can now enter the transfer market with what is expected to be a busy summer for the club. The owners are set to give Thomas Tuchel significant funds to strengthen his squad.