Consortium Led By Todd Boehly Acquires Chelsea From Russian Oligarch
By Varun Aithal
According to an official statement released by Chelsea, the Todd Boehly-led organization has arranged to become the new owners of Chelsea Football Club. The American businessman has bought the club for a record fee of £4.25billion from the Russian oligarch.
The statement reads:
"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(Via: Chelsea Football Club)"
The Todd Boehly-led consortium
The new ownership group consists of: the owner of the LA Dodgers, Mark Walter, Swiss billionaire, Hansjorg Wyss, and a private investment firm, Clearlake Capital.
The other bidders who were beaten to the punch by Todd Boehly are lifelong Manchester United fan Sir Jim Ratcliffe and an association directed by Stephen Pagliuca, as well as Sir Martin Broughton.
How the Chelsea deal is structured?
As per the statement released by the club, £2.5 billion of £4.5 billion will be dedicated to purchasing the shares of the club and the same will be deposited to the bank account owned by Roman Abramovich.
As earlier said by the Russian, the proceeds of the sales will be donated to charitable causes. However, the bank account has been frozen by the UK government and requires their approval to utilize the funds.
The new owners will invest the other 1.75 billion into the stadium as they plan to revamp Stamford Bridge and improve the women’s team, Chelsea’s youth academy, and Kingsmeadow.
Chelsea under Roman Abramovich
The Russian bought Chelsea back in 2003 and his passion for the club was unparalleled. Under his ownership, Chelsea enjoyed immense success as they won several big accolades and became a real powerhouse in the English Premier League and Europe.
The club has five Premier League titles, five FA Cups, two Champions League, a Europa League trophy, and three League Cups to their name.
Premier League: 2004–05, 2005–06, 2009–10, 2014–15, 2016–17
UEFA Champions League: 2011–12, 2020–21
UEFA Europa League: 2012–13, 2018–19
FA Cup: 2006–07, 2008–09, 2009–10, 2011–12, 2017–18
League Cup: 2004–05, 2006–07, 2014–15
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Chelsea have four games left in the English Premier League apart from a FA Cup final against Liverpool. The London outfit finds themselves/finds itself third on the points table and will look to finish the season on a high note.