English Premier League club Chelsea said Roman Abramovich has completed the process of selling the club to a consortium led by Todd Boley and Clearlake Capital. The alliance received approval from the Premier League and the British government last week.
“In selling the club, Mr. 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 said in a statement.
The deal also needed approval from the Portuguese government following Abramovich obtained her citizenship last year and is therefore subject to European Union sanctions.
