The consortium led by Todd Boehly can now call themselves the official Chelsea Football Club owners after beating rival bidders to buy the London club. The bidding process had been going through since March when the sanctioned owner Roman Abramovich put the club up for sale. Boehly, who owns the Los Angeles Lakers and LA Dodgers, has gained the approval from the United Kingdom government and the English Premier League after finding an agreement with the New York investment bank - Raine Group - that facilitated the sale. The United States billionaire who is estimated to have a net worth of about $4.4 billion had been a popular option amongst Chelsea's fanbase throughout the bidding process following his vast knowledge about the club, understandably so because he had done his due diligence back in 2019 when he sought to buy the club at $2.75 billion an offer that was outrightly rejected by Abramovich. 

Abramovich had little need to run the club for profit even lending out to Chelsea $2 billion of his personal wealth. From now on, the club will need to be savvier in the transfer market and fund the business through new revenue streams. The Blues now intend to model themselves on Liverpool when it comes to player recruitment. The Reds have managed to compete with Manchester City for Premier League titles by making signings specifically suited to Jurgen Klopp's footballing philosophy. The huge investment that Abramovich made in the academy at Cobham has been paying dividends for years as most of the Blues players have been poached from their football academy. It is understood that Thomas Tuchel could be handed up to £200 million in his transfer budget, a figure that is targeted after player sales. Costly mistakes have previously been made by Chelsea in the transfer market the most notable one being the £100 million signing of Romelu Lukaku from Serie A giants Inter Milan. The Belgian superstar does not fit with Tuchel's style of play even to the least. 

Boehly's camp are now figuring out what to do with Lukaku while at the same time desperate to ensure that neither Reece James nor Mason Mount are tempted to quit Chelsea given that they do not pocket the kind of lucrative salaries that their talents merit. The new owners are concerned about the expiring contracts amongst the playing staff with Andreas Christensen and Antonio Rudiger having already confirmed to the club that they will be leaving on a free transfer. 

Although Boehly is the face of the new owners, there is a list of powerful players behind the scenes who boast of good connections in the political and financial spheres. Hansjorg Wyss, a Swiss billionaire, and a long-time business partner to Boehly is one of the co-owners, Clearlake capital which is a private equity firm are also part of the owners. What made Chelsea an even more lucrative proposition was the fact that it is based in London and some investors believe that the club is yet to tap on its full potential unlike some of its ‘Big Six’ rivals. The purchase marked the end of the Roman Abramovich era which was filled with successes and controversies in equal measures.