The Blues was put up for sale in March before previous owner Roman Abramovich was sanctioned by the United Kingdom government for links with President Vladimir Putin of Russia following the country's invasion of Ukraine. Chelsea had been operating on a special government license ever since which would have expired on May 31st. Boehly, the new owner has said that he is "honored" and “wants to make fans proud'” The consortium outshined 11 other serious rivals to become the new owners. The club had been put on sale on 2nd of March and it attracted 250 inquiries. This is what Boehly had to say; "We are honored to become the new custodians of Chelsea Football Club. We're all in - 100% - every minute of every match. Our vision as owners is clear: We want to make the fans proud. Along with our commitment to developing the youth squad and acquiring the best talent, our plan of action is to invest in the club for the long term and build on Chelsea's remarkable history of success. I personally want to thank ministers and officials in the British government, and the Premier League, for all their work in making this happen."

The government of the United Kingdom had derailed the sale of the club until it got an assurance from Roman Abramovich's representatives that he was not to benefit from any proceeds from the sale of the club and instead the funds would be channeled to be used in humanitarian aid for Ukraine's victims of war. California private equity firm owns a majority of the shares as it makes its first foray into sports. Boehly is also a part-owner of seven-time baseball World Series champions the LA Dodgers, the Los Angeles Sparks, and NBA franchise the Los Angeles Lakers. Other investors include US billionaire Mark Walter, a co-owner of the LA Dodgers with a stake in the Lakers like Boehly, and Swiss billionaire Hansjorg Wyss. Abramovich bought Chelsea at £140m in 2003 and the club has achieved its height of success having won the Premier Leagues and several Champions League titles.