Pochettino led the squad to the Carabao Cup final and the FA Cup semi-finals, despite a season filled with struggles due to a young squad and injuries.

Chelsea ended the Premier League campaign with five successive wins and secured European football with a sixth-place finish but that wasn’t enough for the Todd Boehly owned team

A statement released on Tuesday, May 21 read;

“Chelsea FC can confirm that the club and Mauricio Pochettino have mutually agreed to part ways.”

Pochettino said: “Thank you to the Chelsea ownership group and Sporting Directors for the opportunity to be part of this football club’s history. The club is now well positioned to keep moving forward in the Premier League and Europe in the years to come.”

Assistant coaches Jesus Perez, Miguel d’Agostino, Toni Jimenez and Sebastiano Pochettino have also departed.

The club’s sporting directors Laurence Stewart and Paul Winstanley said: “On behalf of everyone at Chelsea, we would like to express our gratitude to Mauricio for his service this season.

“He will be welcome back to Stamford Bridge any time and we wish him all the very best in his future coaching career.”

The 52-year-old Argentinian, was appointed last May, replacing interim manager Frank Lampard, who arrived following Graham Potter’s sacking in April 2023.

Hollins made his debut in 1963 and went on to make 592 appearances for the London side over two spells at Stamford Bridge, scoring 64 goals.

He won the FA Cup, European Cup Winners’ Cup, and League Cup during his first period at the club, which ended in 1975.

“He was a hero to the fans of this club, and very much that to me,” said Chelsea board member Daniel Finkelstein.

“He was at the heart of one of Chelsea’s greatest teams and, as well as contributing to its trophy success, he expressed its spirit.”

Hollins, fifth on the all-time Chelsea appearances list, also played for QPR and Arsenal before returning to Stamford Bridge in 1983 for a final stint as a player.

He played once for England, in 1967.

He was Chelsea’s boss from 1985 to 1988 and later had coaching stints at Swansea, Rochdale, and Stockport.

On behalf of his family, Hollins’s son, Chris Hollins, said: “John was always so modest about the role he played in Chelsea’s history.

“He was only 15 when he signed for the club and went on to win trophies in those incredible sides of the 60s and 70s.

“He had so many stories, but he always told us he just loved running out at the Bridge and wearing that famous blue shirt. We will miss him as a husband, a father, and grandfather and will always be proud of what he achieved in the game.”

In a statement released by new owners of the club, it was stated that the sanctions could lead to a negative financial impact for years to come because it prevented them from “entering into new contractual arrangements.”

The London-based club sold to a consortium led by new chairman Todd Boehly in late May of 2022, were unable to sell tickets or merchandise after Abramovich was sanctioned in early March.

Though Chelsea saw an overall turnover increase of £481.3m from £434.9m the previous year on account of increased matchday revenue following the return of supporters post-pandemic.

In spite of the sanctions, Chelsea still saw overall turnover increase to £481.3m from £434.9m the previous year on account of increased matchday revenue following the return of supporters post-pandemic.

Commercial revenue also grew to £177.1m with the club saying it “benefited from a net increase in sponsorship revenue from new contracts and existing partner renewals.”

They invested £118m in the playing squad during 2021/22 and made a profit on player trading – with the sales of Tammy Abraham to AS Roma, Marc Guehi to Crystal Palace, Fikayo Tomori to AC Milan, and Kurt Zouma to West Ham adding up to £123.2m.

A statement released by Chelsea alongside a publication of the accounts read;

“The club was required to operate within the limitations of a special licence issued by the UK government. These restrictions were in place until the completion of the club’s sale on 30 May 2022.

“During this period, the club was restricted in a number of areas including, but not limited to, its ability to sell matchday and season tickets, sell merchandise, accept event bookings, as well as sign contracts with players and commercial sponsorship partners, which collectively resulted in extraordinary expenses and loss of revenue.

“Furthermore, some of these limitations are also expected to have an impact on the financials in the following years due to the long-term impact from restrictions on entering into new contractual arrangements.”

Chelsea made Potter their No 1 target after sacking Thomas Tuchel on Wednesday September 8, and swiftly received permission from Brighton to speak to him. A substantial compensation payment understood to be about £16m will need to be paid

Potter is now going over a few final details of the contract this morning and is expected to be in the Chelsea dugout, along with his Brighton staff, for the Blues’ match against Fulham on Saturday.

The Seagulls boss was due to speak to the media on Thursday ahead of his current side’s Premier League clash with Bournemouth and is expected to address his exit from the club.

Potter quickly emerged as Chelsea’s No 1 target and he was locked in advanced talks with the Blues on Wednesday night, thrashing out an agreement.

Former Liverpool sporting director, Michael Edwards and ex-Tottenham and Southampton recruitment guru Paul Mitchell are among those being considered by Chelsea.

Potter, 47, is understood to have a release clause of at least £12m in his contract, meaning Brighton are powerless to stop their manager from leaving.

Recruitment analyst Kyle Macaulay and first-team coach Billy Reid are among the Brighton staff set to follow Potter to southwest London.

Tuchel was sacked on Wednesday hours after his side’s 1-0 defeat at Dinamo Zagreb, Chelsea’s third loss in seven games.

A Chelsea spokesman said: ‘As the new ownership group continues its hard work to take the club forward, the new owners believe it is the right time to make this transition.’

Chelsea, who sixth, will now hope they can get an immediate bounce from the imminent arrival of Potter in a bid to breathe new life in their domestic and Champions League campaigns.

This is coming barely 24 hours after the Blues suffered a shocking 1-0 defeat in Tuesday’s Champions League opening match.

This was revealed in a statement issued by the club on its website.

The Premier League team said Chelsea’s coaching staff would take charge of the team for training and the preparation for upcoming matches.

The statement added that the club is working on appointing a new head coach to fill the vacant position.

This is coming after Boehly’s consortium was named as the preferred bidder to take over at Stamford Bridge by the Raine Group, the American bank who are overseeing the sale. He partnered with fellow Dodgers owner Mark Walter, Swiss billionaire Hansjorg Wyss as well as investment firm Clearlake Capital to purchase the club.

Boehly saw off competition from consortiums fronted by Stephen Pagliuca and Sir Martin Broughton and even a late £4.25bn bid from Britain’s richest man Sir Jim Ratcliffe.

Chelsea confirmed on their official website in the early hours of Saturday morning that Boehly and his consortium can purchase the club, following the UK Government’s approval.

The statement read: ‘Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Club.

‘Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100 per cent to charitable causes as confirmed by Roman Abramovich. UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.

‘In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation.

‘The sale is expected to complete in late May subject to all necessary regulatory approvals. More details will be provided at that time.’

Russian billionaire, Roman Abramovich put the club up for sale just before the UK Government sanctioned him in March following Russia’s invasion of Ukraine and his close relationship with Russian president, Vladimir Putin.

The finance ministry said restrictions “apply to any entities that are owned or controlled by Roman Abramovich”, adding: “This means Chelsea Football Club is now also subject to an asset freeze under UK financial sanctions

Among others sanctioned are leading industrialist Oleg Deripaska, Rosneft chief executive Igor Sechin and the head of Gazprom Alexei Miller, the government announced.

Speculation has swirled for weeks about whether Abramovich would be included on the targeted action against Russian billionaires perceived to be close to the Kremlin.

Abramovich announced last week that he was selling Chelsea, after buying the English Premier League side in 2003, and bankrolled its successes at domestic and European level.

The UK government estimated his net worth at £9.4 billion (11.1 billion euros, $12.2 billion), but said it was mitigating the effect of the sanctions on Chelsea by allowing the club to continue to operate.

A special licence “authorises a number of football-related activities”, the government said in a statement.

“This includes permissions for the club to continue playing matches and other football-related activity which will in turn protect the Premier League, the wider football pyramid, loyal fans and other clubs,” it added

Deripaska is Abramovich’s one-time business partner, while officials described Sechin as Russian President Vladimir Putin’s “right-hand man”.

The four others — Miller, VTB bank chairman Andrey Kostin, Transneft president Nikolai Tokarev and Bank Rossiya chairman Dmitri Lebedev — are part of his inner circle,

Collectively, the seven have a net worth of about £15 billion, the statement read.

Prime Minister Boris Johnson called the sanctions “the latest step in the UK’s unwavering support for the Ukrainian people”.

Foreign Secretary Liz Truss added: “Today’s sanctions show once again that oligarchs and kleptocrats have no place in our economy or society.

“With their close links to Putin they are complicit in his aggression. The blood of the Ukrainian people is on their hands. They should hang their heads in shame

On Wednesday, March 2, Abramovich issued a statement, where he revealed he will be selling Chelsea due to Russia’s invasion in Ukraine and the subsequent sanctions imposed on Russian businesses and economy.

Abramovich became Chelsea’s owner back in 2003. Since his takeover, Chelsea has gone on to win 21 major titles

Speaking at the Financial Times Business of Football Summit, Neville was asked about his opinion on the situation at Chelsea and Abramovich’s alleged association with Russian President Vladimir Putin.

Neville said: “There are alleged links between Abramovich and [Vladimir] Putin. I think what he [Putin] has done this week has meant the association with Chelsea and Abramovich has become a problem. Am I in a situation where I feel Roman Abramovich should be kicked out of Chelsea, should be kicked out of English football, no I’m actually not there.In respect of Abramovich and Chelsea, he has been an owner of Chelsea now for 20 years and from my point of view I’ve spoken openly about how I’ve welcomed the challenge to the historical elite, which was Manchester United, Liverpool and Arsenal.”

Abramovich released a statement on Saturday night, February 26, that he was handing the “stewardship and care” of Chelsea to the club’s charitable foundation

But the Russian billionaire will remain Chelsea owner having invested over £1billion into the Stamford Bridge club since purchasing it in 2003. He will not be asking the club to repay the loans it owes him, meaning the long-term future of the club remains secure.

He said on Chelsea’s official website: “During my nearly 20-year ownership of Chelsea FC, I have always viewed my role as a custodian of the Club, whose job it is ensuring that we are as successful as we can be today, as well as build for the future, while also playing a positive role in our communities.

“I have always taken decisions with the Club’s best interest at heart. I remain committed to these values.

“That is why I am today giving trustees of Chelsea’s charitable Foundation the stewardship and care of Chelsea FC

“I believe that currently, they are in the best position to look after the interests of the Club, players, staff, and fans.”

Abramovich’s decision to step back comes after several MPs made it clear they thought the Chelsea owner shouldn’t be in charge of the European champions due to his alleged links to Vladimir Putin

Labour MP Chris Bryant said on Friday that Abramovich’s assets should be seized by the UK over allegations from a leaked 2019 Home Office document

Bryant told the Commons: “I’ve got hold of a leaked document from 2019, from the Home Office, which says in relation to Mr Abramovich: ‘As part of HMG’s [Her Majesty’s government] Russia strategy aimed at targeting illicit finance and malign activity, Abramovich remains of interest to HMG due to his links to the Russian state and his public association with corrupt activity and practices.”