Chelsea Football Club has been sold for $NZ 8 billion.
The new owners are a group led by Los Angeles Dodgers part-owner Todd Boehly and backed by Clearlake Capital for 4.25 billion pounds ($NZ 8 billion)
Chelsea said the new owners would pay $5 billion pounds to purchase shares while committing a further $3 billion pounds to invest in the stadium, women’s team, the academy, and the Chelsea Foundation.
Abramovich put the club up for sale in early March following his country’s invasion of Ukraine.
The announcement comes with just over three weeks remaining on the club’s current operating license, which expires on May 31.