Sports

South Africa’s Patrice Motsepe buys Chelsea FC from Roman Abramovich

Chelsea Football Club is under new ownership after South African Billionaire Patrice Motsepe bought the club from Russia’s Roman Abramovich for undisclosed sum.

The Russian billionaire bought Chelsea FC in 2003 in a deal worth £140m ($233m). Chelsea has won many titles since his acquisition of the Premier League club.

The billionaire who is a football enthusiast became the owner of South African football giants Mamelodi Sundowns in 2003.

Patrice Motsepe a South African mining magnate who is the founder and executive chairman of African Rainbow Minerals, with interests in gold, ferrous metals, base metals, and platinum. He also sits on several company boards including being the non-executive chairman of Harmony Gold, the 12th largest gold mining company in the world and is also the deputy chairman of Sanlam.

The acquisition process is believed to have begun in May this year until today when the deal was finalized.

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