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Report: New ownership group set to take over Chelsea from Roman Abramovich

Abramovich stepped down as owner after Russia’s invasion of Ukraine due to his ties to Vladimir Putin.

Chelsea v Newcastle United - Premier League
A Chelsea fanzine featuring club owner Roman Abramovich is seen on sale outside the ground ahead of the Premier League match between Chelsea and Newcastle United at Stamford Bridge on March 13, 2022 in London, United Kingdom.
Photo by Craig Mercer/MB Media/Getty Images

There is a new ownership group at Chelsea, headlined by Todd Boehly and Mark Walter. The club was previously owned by Russian billionaire Roman Abramovich, who stepped down from his roles due to his ties to Vladimir Putin amid Russia’s invasion of Ukraine.

Boehly is the CEO of Eldridge Industries and is no stranger to sports teams. He has stakes in the Los Angeles Lakers, Los Angeles Dodgers, Los Angeles Sparks and Washington Spirit. Walter, the CEO of Guggenheim Partners, shares several of those interests with Boehly. Wyss is a Swiss billionaire who has no other ties to sports ownership outside of this bid for Chelsea.

As part of the agreement to sell the club amid pressure from fans and sponsors, Abramovich will not see any of the profits from the sale. This ownership takeover likely won’t impact business at the club, but it’s not exactly a welcome sight for fans. American ownership groups invading European soccer markets was seen as one of the factors in the proposal of the European Soccer League, a rogue European competition featuring the biggest clubs in the sport.