A consortium led by Todd Boehly is set to take over Chelsea’s ownership at $4.9 billion
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Chelsea Football Club recently announced that the terms have been agreed upon for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter, and Hansjoerg Wyss, to acquire the Club. It means that Chelsea has reportedly agreed to terms for the sale of the club to an ownership group led by Todd Boehly, Clearlake Capital, Mark Walter, and Hansjoerg Wyss for £4.25billion.
The Boehly-led consortium had moved clear in the race to buy the Blues after being selected as the preferred bidder despite a last-ditch higher offer from British billionaire Jim Ratcliffe.
The takeover, which promises an investment of £1.75billion into the club, is expected to be completed later this month
In a statement released in the early hours of Saturday morning local time, Chelsea’s team said: “Of the total investment being made, £2.5billion 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 percent to charitable causes as confirmed by Roman Abramovich.“
“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,” added the team.
Who are Chelsea’s new owners? All you need to know about Todd Boehly and company?
Todd Boehly, a part-owner of baseball’s LA Dodgers and founder of Eldridge Industries, is expected to be the most public face of the consortium, although the largest stake in Chelsea is set to be held by the US private equity firm Clearlake Capital.
Boehly has also partnered with his fellow Dodgers owner Mark Walter, the Swiss billionaire Hansjörg Wyss and the British property developer Jonathan Goldstein. Under the arrangement, Daniel Finkelstein and the publicist Barbara Charone would become non-executive directors of the club.
It will now be interesting to see if the group led by Boehly will be able to produce the same results with Chelsea and carry forward the legacy of the Blues or not.
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Sujeeth Shetty
(766 Articles Published)