Roman Abramovich said Saturday owning Chelsea had been the “honour of a lifetime” after the Premier League club said the sale to a consortium led by Todd Boehly, the co-owner of baseball’s Los Angeles Dodgers, was expected to be completed by Monday.
Chelsea were put on the market in early March, days before Abramovich was sanctioned by the British government following Russia’s invasion of Ukraine.
“I am pleased this search has now come to a successful conclusion,” Abramovich said in a statement after the British government and the Premier League approved the £4.25 billion ($5.3 billion) takeover.
“It has been an honour of a lifetime to be a part of this club,” the 55-year-old Russian said in a statement.
“As I hand over Chelsea to its new custodians, I would like to wish them the best of success, both on and off the pitch.”
The British government describes Abramovich as part of Russian President Vladimir Putin’s inner circle. Abramovich is also the target of European Union sanctions.
READ ALSO: Chelsea Takeover Complete As UK Govt Approves Boehly’s £4.25bn
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The government does not want Abramovich to receive any of the proceeds from the sale, which will instead go into a frozen bank account to be used for charitable purposes.
“Chelsea Football Club can confirm that a final and definitive agreement was entered into last night to sell the club to the Todd Boehly/Clearlake Capital consortium,” the club said on Saturday.
“It is expected that the transaction will be completed on Monday.”
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