Todd Boehly and the Clearlake Consortium have had their £4bn takeover of Chelsea approved by the Premier League.
07.05.2022 - 15:25 / deadline.com
The future of Chelsea Soccer Club looks assured, with the London Club announcing its new owners today.
Following the freezing of the assets of former owner, Russian oligarch Roman Abramovich, on his country’s invasion of Ukraine, the Club has been sold to a consortium led by Todd Boehly in a deal worth £4.25billion ($5.24bn).
A statement issued by the club today confirmed:
“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, £2.5 billion ($3.08bn) 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% 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.”
The Club added that, as part of the deal expected to be completed by the end of this month, the proposed new owners will commit a further £1.75bn ($2.16bn) “for the benefit of the Club,” reported to include investment in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow, as well as the Chelsea Foundation.
Abramovich’s ownership of the high-profile London soccer side dates back to 2003, since when he has ploughed huge amounts of money into the Club, and seen the rewards of 19 major league trophies, including the Champions League in 2021.
Todd Boehley is the owner of holding company Eldridge, which also owns MRC (which operates a publishing joint venture with Deadline’s parent company Penske Media Company) and Dick Clark Productions, producers of the Golden Globes. He is the owner of Los Angeles Dodgers, Los Angeles Lakers and Los Angeles
Todd Boehly and the Clearlake Consortium have had their £4bn takeover of Chelsea approved by the Premier League.
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Naman Ramachandran A consortium led by Todd Boehly has struck a deal reportedly worth £4.25 billion ($5.24 billion) to acquire top English Premier League soccer club Chelsea FC, one of the highest price tags ever agreed for a sports club in history.Boehly owns holding company Eldridge, which owns MRC and Dick Clark Productions, producers of Hollywood’s popular Golden Globes Awards, and serves as interim CEO of the Hollywood Foreign Press Association, which operates the awards. He is also an owner of the Los Angeles Dodgers, the Los Angeles Lakers and the Los Angeles Sparks.The others in the consortium are Clearlake Capital, real estate magnate Jonathan Goldstein, Swiss billionaire Hansjörg Wyss and Mark Walter, CEO, Guggenhiem Partners, with whom he has stakes in the Dodgers and Lakers.
A group led by Todd Boehly, who also owns a stake in the Los Angeles Dodgers, the Los Angeles Lakers, dick clark productions and who is currently the caretaker CEO of the Hollywood Foreign Press Association, has agreed to terms to acquire the English soccer club Chelsea in a deal worth almost $5 billion.
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