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Factbox: Timeline of Chelsea’s sale

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Following is a timeline on the sale of Premier League soccer club Chelsea, who have been sold by Roman Abramovich to a consortium led by LA Dodgers part-owner Todd Boehly and backed by Clearlake Capital.

Feb. 24

Abramovich is named in Parliament as Prime Minister Boris Johnson unveiled Britain’s largest-ever package of sanctions against Russia after the country invaded Ukraine. 

Feb. 26

Abramovich gives trustees of Chelsea’s foundation stewardship of the club amid calls in Britain that the Russian be sanctioned over Moscow’s invasion of Ukraine.

March 2

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Abramovich says he has decided to sell Chelsea and promised to donate money from the sale to help victims of the war in Ukraine as clamour for sanctions grows, but adds the sale will not be fast-tracked. 

March 4

A consortium led by American Boehly and Swiss business tycoon Hansjoerg Wyss enters the fray to make a bid for Chelsea. 

March 10

Britain halts planned sale of Chelsea and imposes sanctions on Abramovich, effectively placing the club under government control. 

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The team is allowed to carry on playing but the government said it was open to selling the club as long as Abramovich himself did not benefit.

March 11

Potential buyers for Chelsea told to approach the government. The club is permitted to operate under strict conditions which prevent transfer deals and new ticket sales while club merchandise store is closed. 

March 12

The Premier League board disqualifies Abramovich as a director at the club after he was sanctioned by the government.

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March 13

British property developer Nick Candy says he will give Chelsea fans a seat on the board if he buys the club and also provide short-term funding. 

March 16

The owners of U.S. baseball outfit the Chicago Cubs team up with Citadel founder Ken Griffin to work on a bid to buy Chelsea. 

March 19

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Former British Airways chairman Martin Broughton says his consortium bidding for Chelsea comprises wealthy investors from around the world. World Athletics President Sebastian Coe joins the consortium. 

March 24

British government amends Chelsea’s special licence to allow the club to sell tickets to fans for away games, with all revenue going to competition organisers. 

March 25

U.S. Bank Raine Group, overseeing the club’s sale, adds Boehly’s group, the Ricketts family and Broughton’s group to the shortlist of bidders.

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April 12-13

American investor Stephen Pagliuca hints at being prepared to divest his interest in Italian club Atalanta to buy Chelsea as he prepares to submit a bid. 

NBA chairman Larry Tanenbaum and former Chelsea captain John Terry join Pagliuca’s bid. 

April 15

The Ricketts family pulls out of the running to buy Chelsea citing “unusual dynamics around the sales process”. 

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April 21

Former tennis world number one Serena Williams and seven-times Formula One world champion Lewis Hamilton join Broughton’s bid to buy Chelsea. 

April 29

The consortium led by Boehly is in exclusive negotiations to buy Chelsea for $3 billion. 

Pagliuca’s group is told they are not the ‘preferred bidder’ and are out of the running but British businessman Jim Ratcliffe says he made a late bid to buy Chelsea. 

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May 5

Abramovich denies media reports that he has asked for his loan to Chelsea — reported to total 1.5 billion pounds ($1.90 billion) — to be repaid. 

Ratcliffe says he is not giving up a bid to buy Chelsea despite apparent rejection from Raine. 

May 7

A consortium led by Boehly and backed by Clearlake Capital wins the bid to acquire Chelsea in a deal worth 4.25 billion pounds ($5.38 billion).

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The proposal is sent to the government and Premier League for approval.

May 24

The Boehly-Clearlake consortium passes the Premier League Owners’ and Directors’ Test, paving the way for the club’s takeover. 

May 25

The British government issues a licence that permits the sale of Chelsea to the Boehly-led consortium. 

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May 26

Portugal gives Abramovich the green light to sell Chelsea. The Russian-born billionaire became a Portuguese citizen last year and is under European Union sanctions. 

May 28

Chelsea strike a final agreement to sell the club to the Boehly-led consortium. 

May 30

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Abramovich completes sale of Chelsea and related companies to an investment group led by Boehly and Clearlake Capital, who will share joint control and equal governance of the club. Chelsea say Boehly will serve as chairman of the holding company.

Reuters

Kunle Solaja is the author of landmark books on sports and journalism as well as being a multiple award-winning journalist and editor of long standing. He is easily Nigeria’s foremost soccer diarist and Africa's most capped FIFA World Cup journalist, having attended all FIFA World Cup finals from Italia ’90 to Qatar 2022. He was honoured at the Qatar 2022 World Cup by FIFA and AIPS.

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Governing Bodies

IOC is in ‘best of hands’, says Bach as he hands over to Coventry

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International Olympic Committee President Kirsty Coventry receives the ceremonial key from outgoing IOC President Thomas Bach during the handover ceremony. AFP

Kirsty Coventry became the president of the International Olympic Committee (IOC), the most powerful person in sport, on Monday in a handover ceremony with her predecessor Thomas Bach.

The Zimbabwean is the first woman and African to head the body, and at 41, the youngest since Baron Pierre de Coubertin, who is credited with founding the modern-day Olympics.

Coventry accepted the Olympic key from Bach, who, like her, is an Olympic champion — he won a team fencing gold in 1976 and she earned two swimming golds in 2004 and 2008.

Stepping down after a turbulent 12-year tenure, Bach expressed his confidence that the Olympic movement was “in the best of hands” and Coventry would bring “conviction, integrity and a dynamic perspective” to the role.

Coventry, who swept to a crushing first-round victory in the election in Greece in March, leans heavily on her family.

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Aside from her parents, who were present at the ceremony in Lausanne, there is her husband Tyrone Seward, who was effectively her campaign manager, and two daughters, six-year-old Ella, who Bach addresses as “princess”, and Lily, just seven months old.

“Ella saw this spider web in the garden and I pointed out how it is made, and how strong and resilient it is to bad weather and little critters,” said Coventry, who takes over officially at midnight Swiss time Monday (2200 GMT).

“But if one little bit breaks it becomes weaker. That spider web is our movement, it is complex, beautiful and strong but it only works if we remain together and united.”

‘Pure passion’

Coventry said she could not believe how her life had evolved since she first dreamt of Olympic glory in 1992.

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“How lucky are we creating a platform for generations to come to reach their dreams,” she said to a packed audience in a marquee in the Olympic House garden, which comprised IOC members, including those she defeated, and dignitaries.

“It is amazing and incredible, indeed I cannot believe that from my dream in 1992 of going to an Olympic Games and winning a medal I would be standing here with you to make dreams for more young children round the world.”

Coventry, who served in the Zimbabwean government as sports and arts Minister from 2019 to this year, said the Olympic movement was much more than a “multi-sport event platform.”

“We (IOC members) are guardians of this movement, which is also about inspiring and changing lives and bringing hope,” she said.

“These things are not to be taken lightly and I will be working with each and every one of you to continue to change lives and be a beacon of hope in a divided world.

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“I am really honoured to walk this journey with you.”

Bach, who during his tenure had to grapple with Russian doping and their invasions of the Crimea and Ukraine as well as the Covid pandemic, said he was standing down filled with “gratitude, joy and confidence” in his successor.

“With her election it sends out a powerful message, that the IOC continues to evolve,” said the 71-year-old German, who was named honorary lifetime president in Greece in March.

“It has its first female and African to hold this position, and the youngest president since Pierre de Coubertin. She represents the truly global and youthful spirit of our community.”

Bach, who choked back tears at one point during his valedictory speech, was praised to the rafters by Coventry, who was widely seen as his preferred candidate of the seven vying for his post.

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After a warm embrace, she credited him with teaching her to “listen to people and to respect them,” and praised him for leading the movement with “pure passion and purpose.”

“You have kept us united through the most turbulent times.

“You left us with many legacies and hope, thank you from the bottom of my heart for leading us with passion and never wavering from our values.”

-AFP

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Governing Bodies

New IOC head Coventry already counting down to LA 2028

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Kirsty Coventry takes over as the new International Olympic Committee President - IOC headquarters, Lausanne, Switzerland - June 23, 2025 New IOC president Kirsty Coventry during the ceremony REUTERS/Pierre Albouy

Former Zimbabwean swimmer Kirsty Coventry took over the leadership of the International Olympic Committee from Thomas Bach in a ceremony on Monday with the 2028 Los Angeles Games already threatening to fill her in-tray to overflowing.

Coventry, who starts her eight-year spell officially on Tuesday as the most powerful sports administrator in the world, became the first woman and first African to be elected head of the Olympic ruling body in March.

Much of the discussion during campaigning focused on the IOC’s need for change in its marketing strategies with several top Olympic sponsors having left in the past 12 months.

However, with Los Angeles hit by protests against immigration raids, and relations tense between state and city officials, and the U.S. government, the 2028 Games have become the major talking point in the movement that would ordinarily be focusing on next year’s Milano-Cortina Winter Games.

Coventry has long-standing ties with the United States, dating back to her time as a leading swimmer at Auburn University in Alabama. That will prove useful ahead of LA 2028, and she has said she will seek to meet with U.S. President Donald Trump to discuss the Games.

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Coventry will also need to find time to help secure the long-term finances of the movement. The IOC, which generates billions of dollars in revenues each year in sponsorship and broadcasting deals for the Olympics, has secured $7.3 billion for 2025-28 and $6.2 billion for 2029-2032. More contracts are expected for both periods.

COMMERCIAL OPPORTUNITIES

Coventry is also expected to continue the IOC’s plans to expand commercial opportunities for sponsors at the Olympics with the organisation’s finances in a robust state and the privately-funded LA Olympics a good place to start.

Coventry needed only one round of voting to clinch the race to succeed Bach, beating six other candidates, making history for the African continent, with the IOC having been ruled for 131 years by European or North American men.

Her background and being the first female president will be assets in a diverse IOC membership and the international makeup of Olympic stakeholders.

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On Monday she was handed the golden key to the IOC by Bach, who was the organisation’s president for 12 years.

“I am really honoured I get to walk this journey with you. I cannot wait for anything that lies ahead,” Coventry said in her address to IOC members and other Olympic stakeholders.

“I know I have the best team to support me and our movement over the next eight years.”

Coventry will hold a two-day workshop this week to get feedback from members on key IOC issues.

“Working together and consistently finding ways to strengthen and keep united our movement that will ensure that we wake up daily… to continue to inspire,” she said.

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A seven-time Olympic medallist, Coventry won 200m backstroke gold at the 2004 Athens Games and in Beijing four years later.

“With her election, you have also sent a powerful message to the world: the IOC continues to evolve,” Bach said in his speech. “With Kirsty Coventry, the Olympic movement will be in the best of hands.”

-Reuters

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Governing Bodies

Accidental double-touch penalties must be retaken if scored, says IFAB

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Champions League - Round of 16 - Second Leg - Atletico Madrid v Real Madrid - Metropolitano, Madrid, Spain - March 12, 2025 Atletico Madrid's Julian Alvarez scores a penalty during the penalty shootout wich is later disallowed after a VAR review for a double touch. REUTERS/Susana Vera/File Photo

Penalties scored when a player accidentally touches the ball twice must be retaken, world soccer’s lawmaking body IFAB has said after Atletico Madrid’s Julian Alvarez had his spot kick disallowed in a Champions League last-16 match.

During a tense shootout with Real Madrid in March, Argentine forward Alvarez slipped and the VAR spotted that his left foot touched the ball slightly before he kicked it with his right.

Although Alvarez converted the penalty, the goal was chalked off and Atletico went on to lose the shootout and were eliminated from the Champions League.

European soccer’s governing body UEFA said the correct decision was made under the current laws but IFAB (International Football Association Board) has said that in such cases the penalty must be retaken.

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Atletico Madrid v Real Valladolid – Metropolitano, Madrid, Spain – April 14, 2025 Atletico Madrid’s Julian Alvarez scores their first goal from the penalty spot REUTERS/Susana Vera/File Photo

“(When) the penalty taker accidentally kicks the ball with both feet simultaneously or the ball touches their non-kicking foot or leg immediately after the kick: if the kick is successful, it is retaken,” IFAB said in a circular.

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“If the kick is unsuccessful, an indirect free kick is awarded (unless the referee plays advantage when it clearly benefits the defending team). In the case of penalties (penalty shootout), the kick is recorded as missed.”

The decision to disallow Alvarez’s penalty left Atletico boss Diego Simeone livid and the club’s fans outraged.

IFAB added that if the penalty taker deliberately kicks the ball with both feet or deliberately touches it a second time, an indirect free kick is awarded or, in the case of shootouts, it is recorded as missed.

The new procedures are effective for competitions starting on or after July 1, but IFAB said it may be used in competitions that start this month.

-Reuters

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