ÐÇ¿Õ´«Ã½

Sports

    • Sale of Chelsea by sanctioned Abramovich approved by U.K. gov't

    Share
    LONDON -

    Roman Abramovich's 19-year ownership of Chelsea is ending after the British government approved the sale of the Premier League club by the sanctioned Russian oligarch to a consortium fronted by Los Angeles Dodgers part-owner Todd Boehly.

    The government had to be sure that Abramovich, who was sanctioned over his links to Russian President Vladimir Putin after the invasion of Ukraine, did not profit from the enforced sale of the club that his investment turned into one of the most successful in European football.

    The reigning FIFA Club World Cup winners and 2021 European champions will be sold for 2.5 billion pounds (US$3.1 billion) -- the highest price ever for a sports team -- with Premier League approval already granted on Tuesday.

    Chelsea has been operating under a government license since Abramovich's assets were frozen in March and it expires on May 31.

    "Given the sanctions we placed on those linked to Putin and the bloody invasion of Ukraine, the long-term future of the club can only be secured under a new owner," British Culture Secretary Nadine Dorries said. "We are satisfied the proceeds of the sale will not benefit Roman Abramovich or other sanctioned individuals."

    There were weeks of discussions between officials from Chelsea and the government over securing the guarantee Abramovich could not gain financially. The sale proceeds will initially go into a frozen account before going to charity.

    "We will now begin the process of ensuring the proceeds of the sale are used for humanitarian causes in Ukraine, supporting victims of the war," the British government said in a statement. "The steps today will secure the future of this important cultural asset and protect fans and the wider football community."

    Delays approving the sale centred on the fate of 1.6 billion pounds ($2 billion) loaned to Chelsea by Abramovich since 2003 that provided the funding to build a men's squad that won 21 trophies during his ownership. Government assurances were needed from Abramovich, who has not condemned Russia's war in Ukraine, about writing off the debt that was linked to companies he controlled.

    Boehly has already started attending Chelsea games in recent weeks since the club approved the sale to the consortium that also features Dodgers principal owner Mark Walter, Swiss billionaire Hansjorg Wyss, and funding from private equity firm Clearlake Capital.

    It was a hotly-contested sale process, with four groups in the final running, before Boehly's group was chosen on May 7 after guaranteeing 1.75 billion pounds ($2.2 billion) of investment in the team.

    Chelsea fans have become accustomed to lavish spending under Abramovich, with more than $1 billion net spending on players.

    Chelsea's ability to sell match tickets and commit to new player spending has been curbed by the sanctions but now the new ownership is set to provide investment to manager Thomas Tuchel to strengthen the squad.

    The certainty is that Chelsea will be playing in the Champions League next season after finishing third in the Premier League last Sunday despite the off-field turmoil. The women's team won a league and cup double with a squad funded by Abramovich's investment.

    Chelsea had won the men's championship only once -- in 1955 -- when Abramovich bought the club in 2003. Helped by expensive signings, the club won the Premier League two years later and has added four more since then, most recently in 2017.

    Investment is needed in Stamford Bridge. Chelsea has the smallest and most dated stadium of the Premier League's most successful clubs, with plans for a rebuild of the 41,000-capacity venue put on hold by Abramovich in 2018 when British-Russian diplomatic tensions deepened.

    The $3.1 billion cost of Chelsea eclipses the $2.3 billion paid in 2018 for the NFL's Carolina Panthers.

    As well as being part owner of the MLB's Dodgers, Boehly also has minority stakes in the NBA's Los Angeles Lakers and WNBA's Los Angeles Sparks.

    ____

    Get in touch

    Do you have any questions about the attack on Ukraine? Email dotcom@bellmedia.ca.

    • Please include your name, location, and contact information if you are willing to speak to a journalist with CTV News.
    • Your comments may be used in a CTVNews.ca story.

    CTVNews.ca ÐÇ¿Õ´«Ã½

    BREAKING

    BREAKING

    Three men were injured after a man armed with a knife entered a Montreal-area Islamic cultural centre Friday afternoon.

    A 15-year-old boy who was the subject of an emergency alert in New Brunswick has been arrested.

    Police have arrested an 18-year-old woman who allegedly stole a Porche and then ran over its owner in an incident that was captured on video.

    Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    The parents of a teenager who died after allegedly consuming the poisonous products of a Mississauga man are now suing him, as well as several doctors involved in her care.

    The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    Canada

    • BREAKING

      BREAKING

      Three men were injured after a man armed with a knife entered a Montreal-area Islamic cultural centre Friday afternoon.

    • Police have arrested an 18-year-old woman who allegedly stole a Porche and then ran over its owner in an incident that was captured on video.

    • The parents of a teenager who died after allegedly consuming the poisonous products of a Mississauga man are now suing him, as well as several doctors involved in her care.

    • The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    • Relatives of a 60-year-old man who took his own life in a Nova Scotia jail after long periods of confinement in his cell have launched a lawsuit against the province.

    • A 15-year-old boy who was the subject of an emergency alert in New Brunswick has been arrested.

    World

    Politics

    Health

    • A Nova Scotia woman has applied for a medically assisted death, saying after years of battling to receive out-of-country surgery for an illness that causes 'indescribable' pain, she struggles to maintain the will to live.

    Sci-Tech

    Entertainment

    • Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.

    • It will be the last show for longtime children's TV star Ron (Buck Shot) Barge as a memorial is held Friday in Calgary.

    Business

    Lifestyle

    Sports

    • Agreement in principle has been reached to build a new NHL arena at LeBreton Flats has been reached between the Ottawa Senators and the National Capital Commission (NCC), the two sides announced Friday.

    • F1 star Max Verstappen punished over bad word

      Formula One points leader Max Verstappen was ordered to 'accomplish some work of public interest' after uttering an inappropriate word Thursday at the news conference ahead of the Singapore Grand Prix.

    • The Winnipeg Jets have some huge holes to fill on both offence and defence this season.

    Autos

    Local Spotlight

    Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.

    They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

    A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.

    Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.

    The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.

    The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.

    It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.

    A Good Samaritan in New Brunswick has replaced a man's stolen bottle cart so he can continue to collect cans and bottles in his Moncton neighbourhood.

    David Krumholtz, known for roles like Bernard the Elf in The Santa Clause and physicist Isidor Rabi in Oppenheimer, has spent the latter part of his summer filming horror flick Altar in Winnipeg. He says Winnipeg is the most movie-savvy town he's ever been in.

    • The debate over sexual orientation and gender identity education in schools is heating up. Protests both for and against SOGI in the curriculum took place across the country Friday.

    • A teenager has been charged with multiple offences related to stabbings that occurred in Surrey's Newton neighbourhood last week.

    • New Democrat Leader David Eby has launched his British Columbia election campaign a day early, making the key battle ground of Surrey his first stop.

    • Police have arrested an 18-year-old woman who allegedly stole a Porche and then ran over its owner in an incident that was captured on video.

    • The parents of a teenager who died after allegedly consuming the poisonous products of a Mississauga man are now suing him, as well as several doctors involved in her care.

    • Michael Ford, Ontario's minister of citizenship and multiculturalism, says he is taking a leave of absence from cabinet to prioritize his health.

    • Calgary Mayor Jyoti Gondek is urging the Alberta government to preserve pieces of the massive Green Line transit project now being dissolved.

    • It will be the last show for longtime children's TV star Ron (Buck Shot) Barge as a memorial is held Friday in Calgary.

    • It's billed as 'Canada’s Largest Halloween Festival' and it's taken weeks to set up over 10,000 carved pumpkins that transform the WinSport bobsleigh track into a spooky spectacle.

    • Agreement in principle has been reached to build a new NHL arena at LeBreton Flats has been reached between the Ottawa Senators and the National Capital Commission (NCC), the two sides announced Friday.

    • Maplewood Secondary School is scheduled to open Monday after receiving a permit Friday morning allowing 50 per cent of the building to be occupied.

    • Police in western Quebec say a driver has been arrested after almost crashing into a school bus near La Pêche Friday morning.

    • BREAKING

      BREAKING

      Three men were injured after a man armed with a knife entered a Montreal-area Islamic cultural centre Friday afternoon.

    • A new garden and microforest, years in the making, have been inaugurated at John Abbott College in Montreal.

    • The Montreal couple from Mexico and their three children facing deportation have received a temporary residence permit.

    • Mounties say there was an increased police presence in the Emerald Hills area of Sherwood Park on Friday morning as officers searched for a man who is wanted by police.

    • There are plenty of fun happenings in Edmonton this weekend. It's time to savour that last little bit of the summer season before the leaves really start coming down.

    • Alberta Health Services says an E. coli outbreak at a daycare in Blackfalds has ended.

    • A 15-year-old boy who was the subject of an emergency alert in New Brunswick has been arrested.

    • Relatives of a 60-year-old man who took his own life in a Nova Scotia jail after long periods of confinement in his cell have launched a lawsuit against the province.

    • Family, friends and fans of late hip hop artist and battle rapper, Pat Stay will gather at events held in his honour on Saturday and Sunday.

    • The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    • A Manitoba veterinary clinic has two new ways of figuring out what’s causing a horse to be lame.

    • Getting a photograph of a rainbow? Common. Getting a photo of a lightning strike? Rare. Getting a photo of both at the same time? Extremely rare, but it happened to a Manitoba photographer this week.

    • BREAKING

      BREAKING

      A large police presence can be seen outside Regina’s Miller High School on Friday afternoon.

    • A 21-year-old man from Codette, Sask. is facing numerous charges in connection to a fatal crash near Wapella, Sask. Wednesday night that claimed the life of a 22-year-old Alberta woman.

    • Arguments between UR Pride and the Government of Saskatchewan on the Parents’ Bill of Rights will be moving ahead to the Court of Appeal for Saskatchewan beginning on Monday, Sept. 23.

    • Levels of hydrogen sulfide gas are being monitored at Brantford Collegiate Institute after a leak in their geothermal system.

    • Police have arrested an 18-year-old woman who allegedly stole a Porche and then ran over its owner in an incident that was captured on video.

    • The second-degree murder trial of Thomas Hamp is being adjourned until December so an expert witness central to the trial can testify.

    • A 69-year-old woman from Outlook, Saskatchewan is dead and three people are injured after a truck and SUV collided on Highway 15 on Thursday.

    • A garage fire in Saskatoon’s Willows neighbourhood on Friday narrowly missed igniting an attached home, according to the fire department.

    • Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.

    • Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    • A 26-year-old driver from Surrey, B.C., has been charged with three counts of criminal negligence causing death and bodily harm in a crash that killed two youths in northern Ontario last year.

    • The timeline is short, but London officials are confident in their ability to submit a strong application for a Homelessness and Addiction Recovery Treatment (HART) Hub that the province will begin funding next year.

    • A man is in hospital with life threatening injuries following a collision between a motorcycle and a vehicle on Friday afternoon.

    • A new outdoor music festival is launching this weekend in London - tickets are still available for the inaugural Fairway Fest at East Park.

    • Provincial police are investigating vandalism in Huntsville after the "senseless destruction" of flower displays along Main Street East.

    • A 17-year-old from Markham is facing serious charges after an August 11 shooting at a party in Caledon.

    • Two men from Barrie have been charged after a deadly shooting at a park in Keswick on Wednesday.

    • Windsor police say a 25-year-old mother has been charged with the drowning death of her 5-year-old child in the family’s backyard pool.

    • There is no threats to public safety following an incident involving a gun at a local high school.

    • A LaSalle couple has won $1 million after buying a ticket for the Aug. 13 LottoMax draw.

    • New Democrat Leader David Eby has launched his British Columbia election campaign a day early, making the key battle ground of Surrey his first stop.

    • The Old Man Lake wildfire near Sooke is the only one currently burning on Vancouver Island. It’s a region of the province that this year saw a drastic drop in blazes in the backcountry.

    • The debate over sexual orientation and gender identity education in schools is heating up. Protests both for and against SOGI in the curriculum took place across the country Friday.

    • A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.

    • The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.

    • Animal protection officers in British Columbia have rescued three pit bulls – including one that gave birth to 10 puppies – from a rat-infested home in Kelowna.

    • A Vulcan, Alta., man has been charged with a Lethbridge woman's murder after her body was found in the Oyen area.

    • A Lethbridge couple got a good reminder as to why you should keep your vehicle doors locked at all times.

    • Lethbridge residents who live near the police range can expect to hear plenty of shots fired Wednesday and Thursday.

    • A 26-year-old driver from Surrey, B.C., has been charged with three counts of criminal negligence causing death and bodily harm in a crash that killed two youths in northern Ontario last year.

    • Ontario Provincial Police say three suspects from southern Ontario have been charged and drugs worth $300,000 have been seized following a traffic stop Sept. 16.

    • A Brampton driver, 27, was charged this week when northern Ontario police stopped the SUV he was driving on Highway 17 after a reported shooting and found more than $100,000 in cash.

    N.L.

    Shopping Trends

    The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.

    Stay Connected
    Follow CTV News