A group of American financier Todd Boley has agreed to buy Chelsea football club on a deal worth 4.25 billion pounds, which ended a week of intense negotiations on the fate of the British side, according to two people who know about it.
These people have stated that the biggest acquisition of a football club in history requires the blessing of the Premier League and the UK government. They added that the green light would be a formality because the Beli consortium had been pre-approved.
The total amount of £ 4.25 billion includes the cost of acquiring Chelsea and a commitment to invest in the West London club, although the exact division has not been determined. To protect Chelsea’s finances, the deal includes restrictions on management fees, dividend payments and debt, two of the people said.
This is the largest amount paid for the football club, which exceeds 790 million pounds paid by the American Glaser family as a result of a ransom through a loan to acquire Manchester United, one of Chelsea’s rivals in the Premier League.
The agreed deal takes place afterwards Russian oligarch Roman Abramovich was sanctioned by the British government and was forced to put the club up for sale when Moscow invaded Ukraine. The British government has put him on a sanctions list because of his closeness to Russian President Vladimir Putin.
Abramovich promised to donate net profits to charity, intention He repeated on Thursday.
Bely’s group must usher in a new era for the club, which had relied on Abramovich’s fortune for two decades when it was transformed into a powerhouse that won all the major awards in football.
Chelsea attracts private capital billionaires, sports magnates and star athletes at an auction held American Commercial Bank Raine Groupas bidders demanded a rare chance to acquire one of the world’s elite football clubs.
Clearlake Capital provides financial firepower to the Boehly Group, which also includes Swiss billionaire Hansorg Vis and CEO of Guggenheim Partners Mark Walter. Daniel Finkelstein, a colleague of the Conservative Party of Great Britain and a columnist for the Times, also supports the application.
They were backed by a pair of private investments by Josh Harris and David Blitzer and another group led by basketball moguls Stephen Pogluk and Larry Tannenbaum.
Last week, Raine chose Boeley as the “preferred bidder”, giving the group a one-week window of exclusive talks, despite the eleventh bid of chemical tycoon Jim Ratcliffe and his UK-based Ineos group, who were not involved in the formal process. .
The way Chelsea comes into American ownership will be closely monitored by the sport, which has envied the club’s purchasing power in the transfer market. Under Abramovich’s leadership, the club has won five Premier League titles and twice the UEFA Champions League pan-European tournament.
George Osborne, former Chancellor of the United Kingdom, and boutique consulting firm Robbie Warshaw advise the Boi group along with Wall Street investment bank Goldman Sachs.
Boi is a co-founder and CEO of Eldridge Industries, headquartered in Connecticut, which invests in insurance, asset management, technology, media and real estate.
The former president of Guggenheim Partners is a co-owner of the Los Angeles Dodgers baseball team and the LA Lakers basketball team.
Boe attended Chelsea’s 3-1 defeat to Real Madrid last month in the UEFA Champions League, Europe’s most prestigious club tournament, when bidders conducted a proper asset test.
The takeover adds another set of wealthy American investors to the Premier League. The Glaser family acquired Manchester United in 2005; Fenway Sports Group’s John Henry controls Liverpool; Stan Kroenke owns Arsenal.
They are all known to own American sports franchises. The Tampa Bay Buccaneers of the National Football League are owned by Glaser, and Kronke is owned by the Los Angeles Rams, an NFL rival. The Boston Red Sox baseball side is part of Fenway’s sports portfolio.
This article is first published on Source link