Who is Chelsea’s new owner Todd Boehly?

Chelsea F.C. confirmed the terms were agreed with a consortium led by the Los Angeles Dodgers co-owner Todd Boehly and backed by Clearlake Capital for the acquisition of the English Premier League side.

The Stamford Bridge-based company announced the £4.25 billion ($5.2 billion) deal for the reigning European champions in a statement released in the early hours of Saturday, subject to obtaining the required authorizations.

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Chelsea’s Stamford Bridge in LondonANDY RAINECE

“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,” the statement read.

“The sale is expected to be finalized at the end of May subject to all necessary regulatory approvals. More details will be provided at that time. »

Chelsea said the new owners would pay £2.5bn to buy shares while committing a further £1.75bn to invest in the stadium, women’s team, academy and the Chelsea Foundation.

The statement confirmed that all profits would be placed in a frozen UK bank account and that Russian owner Roman Abramovich, which is currently under sanctions by the UK government, would donate all profits to charitable causes.

The announcement comes with just over three weeks remaining on the club’s current operating license, which expires on May 31. Abramovich put the club up for sale in early March after his country invaded Ukraine.

Roman Abramovich.

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Roman Abramovich.Paul GilhamGetty Images

He paved the way for the takeover on Thursday after rejecting reports he wanted a loan to the club worth 1.5 billion pounds ($1.9 billion) repaid .

The Boehly Group, which also includes Swiss billionaire Wyss, were in exclusive negotiations to buy the club after a late bid from British billionaire Jim Ratcliffe was rejected.

Who is Todd Boehly?

Boehly, 48, is the figurehead of the group that will buy Chelsea with the American graduate of the London School of Economics, having first worked for several major American banks, including Citibank, before joining financial services giant Guggenheim Partners in 2001 and later becoming its chairman.

In 2015, the father of three left Guggenheim Partners to create Eldridge Industries, active in the banking, insurance, real estate, technology, media, sports and restaurant sectors. Its portfolio of assets includes US music magazine Billboard, Bruce Springsteen’s catalog of songs and music rights and Circus of the sun.

The acquisition of Chelsea is not Boehly’s first investment in professional sport. In 2013, he purchased the Los Angeles Dodgers baseball franchise from Frank McCourt, current owner of Olympique de Marseille, as well as other investors including Mark Walter, also involved in the Chelsea bid, and former NBA basketball legend Magic Johnson.

Todd Boehly

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Todd BoehlyGetty Images

He has since acquired a stake in the famous Los Angeles Lakers basketball team.as well as the LA Sparks professional women’s basketball team.

His personal fortune is estimated by Forbes magazine at $4.5 billion.which ranks him 637th among the richest people in the world in 2022 by the American magazine.

Boehly, who was an avid wrestler as a teenager, also tried to buy Chelsea in 2019 and he currently splits his life between Los Angeles and Connecticut.

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