Crypto-Connected Chelsea Football Club Sale Imminent; Russian Billionaire's 20-Year Ownership To End

Zinger Key Points
  • The British government has approved the $5.3 billion Chelsea Football Club deal.
  • The football club has partnered with crypto platform WhaleFin for a $20 million per year deal.

The much-hyped Chelsea Football Club’s sale to the Todd Boehly group may be completed as soon as by Monday. Clearlake Capital will back the deal.

According to the football club’s statement, it received the sale approval this week from the Premier League and the British government. 

The British government approved a $5.3 billion deal, bringing a close to Russian billionaire Roman Abramovich’s almost 20-year football club ownership. 

 “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.

In a separate statement, Abramovich said that the ownership of Chelsea “comes with great responsibility,” and his goal is to ensure that the next owner can achieve success for both the men’s and women’s teams.

Also Read: 5 Things You Might Not Know About Russian Billionaire Roman Abramovich

Chelsea Football Club Partners With WhaleFin

The football club previously announced a partnership with the Amber Group-backed crypto platform WhaleFin for a $20 million per year deal. 

WhaleFin will become the Chelsea FC sleeve partner starting in the 2022/23 season. The crypto exchange offers a variety of digital currencies, including Bitcoin BTC/USD and Ethereum ETH/USD.

The WhaleFin’s logo, which features a blue whale, will be put on Chelsea FC players’ kits. The logo will replace the current Korean car manufacturer Hyundai Motor Co. HYMTF’s logo for four years. The club is also planning to change its main shirt sponsor, Three, a British telecom company.

Talking about the partnership, Chelsea’s Chief Executive Officer, Guy Laurence, said, “This is a hugely exciting partnership for the club, which aligns us with one of the world's most advanced digital asset companies.”

Photo: Grace-ful Cakes on flickr

Market News and Data brought to you by Benzinga APIs
Posted In: CryptocurrencyNewsSportsTop StoriesMarketsGeneralChelsea Football ClubCryptopartnershipplatformsaleTodd Boehly groupWhaleFin
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!