After reaching a “final and definitive” deal with the group led by Los Angeles Dodgers part-owner Todd Boehly, the sale of Premier League team Chelsea is set to be completed on Monday.

The club announced on Saturday that it has “entered into a final and definitive deal last night” to sell to the Boehly and Clearlake Capital consortium. The price is 2.5 billion pounds ($3.2 billion), making it the most expensive sports franchise ever.

“The trade is likely to be finalised on Monday,” the club stated.

Following a succession of clearances, Roman Abramovich was able to sell despite being sanctioned for his ties to Russian President Vladimir Putin following the invasion of Ukraine.

For the past 19 years, Abramovich has owned the team.

The deal was approved this week by the British government, which had sanctioned Abramovich and ensured that the Russian businessman would not profit from it. The Premier League had previously given its blessing.

Since Abramovich’s assets were frozen in March, Chelsea has been functioning under a government license, which expires on Tuesday.
In a statement on Chelsea’s website, Abramovich said, “It has been an honor of a lifetime to be a part of this club.”

“My goal has been to ensure that the next owner has a mindset that will allow the men’s and women’s teams to succeed, as well as the desire and passion to continue developing other critical areas of the club, including as the academy and the crucial work of Chelsea Foundation,” he continued.

During Abramovich’s ownership, the men’s squad has won 21 trophies. Chelsea fans have grown accustomed to Abramovich’s excessive spending, with the club spending more than $1 billion on players.

After promising to invest 1.75 billion pounds ($2.2 billion) in the teams and infrastructure, Boehly’s group was chosen earlier this month.

Mark Walter, the owner of the Los Angeles Dodgers, is part of the group, as is Swiss billionaire Hansjorg Wyss, as well as investment from private equity firm Clearlake.

“I am relieved that this quest has now come to an end,” Abramovich remarked. “As I pass over Chelsea to its new guardians, I wish them every success on and off the field.”

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