Chelsea’s new owner is Todd Boehly

Chelsea confirmed in the early hours of Saturday morning that a deal has been agreed for the sale of the club to Todd Boehly, seeing him succeed Roman Abramovich as the Blues’ owner.

Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss are all part of the purchase, and 2.5 billion pounds of the money will be applied to purchase the club’s shares.

Proceeds will be deposited into a frozen UK bank account with, as the club explained, the intention to donate 100 percent to charitable causes. A further 1.75 billion pounds will be committed to the benefit of the club.

Who is Todd Boehly?

The new Chelsea owner may be a new name to many within football, but he is a more familiar face to fans of American sports.

Boehly is already a part-owner of both the Los Angeles Lakers and the Los Angeles Dodgers. He holds a 27 percent stake in the Lakers and a 20 percent stake in the Dodgers.

This isn’t the first time he has shown an interest in football either, with reports suggesting that he tried to buy the West London club back in 2019 as well.

The sanctions taken against Roman Abramovich following Russia’s invasion of Ukraine, though, gave him the chance to finally make his move.

 

The keys to Todd Boehly’s success

Boehly, a successful businessman, has previously revealed some of his strategies and keys to his success.

“When I’m negotiating, the objective isn’t to get the best deal for myself but for all parties,” Boehly said at a school reunion in Maryland in the past, as quoted by the Daily Mail.

“Most people try to wring every penny for themselves. That strategy earns them more money on one specific deal, but it doesn’t build trust or long-lasting relationships.”

After graduating with a degree in finance, Boehly’s career began as CS First Boston in New York in 1996, a division of Credit Suisse. He then moved to JH Witney & Co and then to Guggenheim Partners in 2001.

He has worked alongside Mark Walter for a considerable length of time, with the latter also part of the Chelsea consortium.

Boehly is also known for his philanthropy, having invested in a number of charities.

 

With the sale of Chelsea to Todd Boehly having been confirmed, Blues fans are looking forward to a new era at Stamford Bridge.

Roman Abramovich was forced to sell the club as sanctions were taken against him following Russia’s invasion of Ukraine and due to his relationship with Vladimir Putin.

“Of the total investment being made, 2.5 billion pounds 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,” read Chelsea’s statement, in which they confirmed that a deal to buy the club had been agreed.

“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 pounds 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.”

It seems, then, that the new owners are committed to putting money into the club so that they can continue to operate at the top of the Premier League, and to be regular participants in the Champions League as well.

The sanctions against Chelsea :

https://www.hihonor.com/tr/club/topicdetail/topicid-81645/
https://www.hihonor.com/tr/club/topicdetail/topicid-81646/
https://www.hihonor.com/tr/club/topicdetail/topicid-81647/
https://www.hihonor.com/tr/club/topicdetail/topicid-81649/
https://www.hihonor.com/tr/club/topicdetail/topicid-81650/
https://www.hihonor.com/tr/club/topicdetail/topicid-81652/

Once the club is no longer operating under Roman Abramovich, they will be able to return to normal, allowing them to sell tickets and merchandise once more, no longer affected by the sanctions taken against the Russian.

Unfortunately for the Blues, though, a lot of damage has already been done. They’re set to lose both Antonio Rudiger and Andreas Christensen this summer, with both expected to move to LaLiga Santander to join Real Madrid and Barcelona respectively on free transfers. Captain Cesar Azpilicueta is also facing an uncertain future.

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