I Will Not Spend Like Abramovich – Boehly Tells Chelsea Fans

Due to the potential of sanctions for breaking UEFA’s financial fair play rules, Chelsea’s new owner, Todd Boehly, has warned that clubs will no longer be allowed to recruit players ‘at any price.’

Last month, Boehly led an investor group that acquired the Blues.

Following Russia’s invasion of Ukraine, Roman Abramovich put the Premier League team up for sale, and the American bought it.

Read Also: Boehly Vows To Push Chelsea To Success After Sealing Takeover

Chelsea have been the most successful team in England since Abramovich bought the club in 2003, mostly due to the Russian’s investment.

But Boehly said at the SuperReturn International conference in Berlin: “Financial fair play is starting to get some teeth and that will limit the ability to acquire players at any price.

‘UEFA takes it seriously and will continue to take it seriously. [More teeth] means financial penalties and disqualification from sporting competitions.’

Boehly had a few week ago pledged to build on the team’s ‘remarkable history of success’ after the American completed his takeover of the Premier League club.

Africa Today News, New York had on May 7 reported that Boehly’s consortium agreed a deal to buy Chelsea from Roman Abramovich for £4.25 billion ($5.3 billion) and the sale has now been officially rubber-stamped.

‘We are honoured to become the new custodians of Chelsea Football Club. We’re all in, 100 percent, every minute of every match,’ Boehly told Chelsea’s website.

Boehly’s takeover ends Abramovich’s 19-year reign as Chelsea owner after the Russian put the club up for sale in March.

Abramovich was sanctioned by the British government for his alleged links to Russian President Vladimir Putin following the invasion of Ukraine.

Africa Today News, New York

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