A consortium led by Todd Boyle Group (including Clearlake Capital, Mark Walter and Hansjoerg Wyss) has agreed to buy Chelsea FC
According to “The Athletic” website, the deal will expire by the end of May, when the current license under which the club can operate expires. The group will pay $3.1 billion to buy Abramovich’s shares. It will commit to investing another $2.2 billion. In the club. Speech including. About the renovation that can accommodate approximately 42 thousand. Stamford Bridge viewers.
In an interview with Bloomberg in 2019, Buhle said that the new stadiums that English clubs are building are beginning to take the American approach to such stadiums, they are creating the environment.
Thus Boehle alluded to the history where stadiums were built primarily for sporting events. They are now “lifestyle” centers, where the spectator spends a lot of time near the venue before and after the event itself.
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It would be a very unusual deal. Abramovich won’t get a pound
Funds are allocated for the purchase of shares of the oligarch for charitable causes. It will first be deposited into a frozen bank account, and must be approved by the British governmentWhich confirms from the outset that the deal will take place if Abramovich does not receive a single pound from her.
Buhli, 46, wanted to buy Chelsea FC for $3 billion. Already in 2019, but then Abramovich did not want to hear about the sale order. Boehly is the CEO and controlling member of Eldridge Industries, a holding company that includes 80 different companies in the financial, media, sports, real estate and technology sectors in its portfolio.
Chelsea sold. Who are the new owners of the club?
The Chelsea purchase is not Boehly’s first investment in the sport. Already co-owner of the Los Angeles Dodgers Baseball ClubBasketball, Los Angeles Lakers and Los Angeles Sparks. In the 2021 Forbes ranking, the Lakers ranked seventh among the most valuable sports clubs in the world ($4.6 billion), and the Dodgers came in 16th place ($3.57 billion). Since the Guggenheim’s takeover of Baseball Management with Boyle as a shareholder for the Dodgers, the club has won the World Series once and lost two finals. Mark Walter, one of Chelsea’s new owners, also works for the Dodgers.
Walter is the CEO of Guggenheim Partners, an investment and advisory firm that manages more than $270 billion in assets. Meanwhile, 86-year-old Hansjörg Wyss made a fortune in medical equipment company Synthes, which he then sold. His private fortune is estimated at $4.7 billion. Clearlake Capital Group is also a shareholder, managing approximately $55.5 billion in assets. As The Athletic asserts – Clearlake Capital Group is mostly responsible for closing the deal. Boehly is appointed to be a minority shareholder but will serve as the face of the board of directors.
American business in English football
This is another investment by American businessmen in English football clubs. In 2005, the Glazer family acquired Manchester United for £790 million. Two years later, Stanley Kroenke became the majority shareholder in Arsenal London. However, Liverpool is owned by Fenway Sports Group from Boston. All entities also operate sports clubs in the United States.
Why did Boehle invest in a football club?
Because it is intellectually stimulating. Buhli confirmed in an interview with “Yahoo” that there are no guarantees.
The sale of Roman Abramovich to Chelsea was talked about for several weeks, when the United Kingdom and the European Union began to impose financial sanctions on the Russian oligarchs in connection with Russia’s invasion of Ukraine. Abramovich’s fortune was frozen, which directly led to the club’s sale. However, Abramovich tried to sell Chelsea FC even before his assets were frozen. But the trial was postponed. For a while the future of the club was very unknown, and the club could not even sell tickets for their games.
For many years, Abramovich was considered a friend of Vladimir Putin. The president of Russia himself had to persuade him to buy a London club, investigative journalist Catherine Bilton reported. In Putin’s People: How the KGB took over Russia and then took over the West.
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