OFFICIAL: Chelsea Takeover By Todd Boehly Completed

Chelsea have confirmed that Todd Boehly and his consortium have finalised the deal to buy the club from Roman Abramovich.

"Roman Abramovich has completed the sale of Chelsea Football Club and related companies to an investment group led by Todd Boehly and Clearlake Capital," the official statement from the board of directors reads.

"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."

The deal is understood to be worth around £4.25 billion, including £2.5 billion in club shares.

Boehly's consortium was one of '12 credible bids' to buy the club that came forward after Abramovich's decision to step away.

Source: Chelsea FC