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Boehly completes £4.25bn Chelsea takeover

The Todd Boehly-led consortium have completed a £4.25bn takeover of Chelsea, ending Roman Abramovich's 19-year ownership of the club.

The new owners said they are "committed to investing in key areas that will extend and enhance Chelsea's competitiveness, including the redevelopment of Stamford Bridge, further investment in the academy, the women's team and Kingsmeadow stadium," adding they will "continue the important work of the Chelsea Foundation".

After months of negotiations, the deal was finally approved on Wednesday morning when the government received legal guarantees that Roman Abramovich - who has had his UK assets frozen - would not benefit from the sale.

The proceeds from the sale will be frozen in a UK bank account until the government has received further assurances that the money will solely go to support humanitarian causes in Ukraine.

Boehly set out his consortium's vision in a statement on Chelsea's website, saying: "We are honoured to become the new custodians of Chelsea Football Club. We're all in - 100 per cent - every minute of every match.

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