Todd Boehly completes takeover of UK’s Chelsea Football Club

30/5/2022 8:28:00 PM

M&A: Todd Boehly completes takeover of UK’s Chelsea Football Club - Bloomberg

M&A: Todd Boehly completes takeover of UK’s Chelsea Football Club - Bloomberg

(May 30): US investor Todd Boehly has completed his £4.25 billion (US$5.4 billion) takeover of Chelsea Football Club from the sanctioned Russian oligarch Roman Abramovich. Chelsea confirmed the completion of the deal in statement Monday. It ends almost 20 years of ownership under billionaire Abramovich, during which the club rose to become one of the dominant forces in the English Premier League. Abramovich was forced to put the team up for sale earlier this year, shortly before being sanctioned as part

(May 30): US investor Todd Boehly has completed his £4.25 billion (US$5.4 billion) takeover of Chelsea Football Club from the sanctioned Russian oligarch Roman Abramovich.Chelsea confirmed the completion of the deal in statement Monday. It ends almost 20 years of ownership under billionaire Abramovich, during which the club rose to become one of the dominant forces in the English Premier League.

Abramovich was forced to put the team up for sale earlier this year, shortly before being sanctioned as part of the UK’s response to Russia’s war in Ukraine. Raine Group, the US advisory firm, was tasked with handling the sale of one of the biggest brands in European sport.

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A (May 30): US investor Todd Boehly has completed his £4.for the latest news you need to know.for the latest news you need to know.The consortium, which won the bid to acquire the London side earlier this month, received approval from the Premier League and the British government last week for the sale to go ahead.

25 billion (US$5.4 billion) takeover of Chelsea Football Club from the sanctioned Russian oligarch Roman Abramovich. Boehly’s consortium agreed a deal to buy Chelsea from Roman Abramovich for £4. Chelsea confirmed the completion of the deal in statement Monday.25 billion (RM23. It ends almost 20 years of ownership under billionaire Abramovich, during which the club rose to become one of the dominant forces in the English Premier League.5 billion) on May 7 and the sale has now been officially rubber-stamped. Abramovich was forced to put the team up for sale earlier this year, shortly before being sanctioned as part of the UK’s response to Russia’s war in Ukraine.

Raine Group, the US advisory firm, was tasked with handling the sale of one of the biggest brands in European sport. We’re all in, 100 per cent, every minute of every match,” Boehly told Chelsea’s website. We’re all in, 100 per cent, every minute of every match,” Boehly told Chelsea’s website. “The club received more than 250 enquiries from proposed purchasers,” Chelsea said in a statement. “Ultimately, the club received 12 credible bids. Abramovich was sanctioned by the British government for his alleged links to Russian President Vladimir Putin following the invasion of Ukraine.” These where whittled down to just three, with Boehly beating out competition from rival consortiums led by British businessman Martin Broughton and Bain Capital co-chairman Stephen Pagliuca. Los Angeles Dodgers co-owner Boehly has set his sights on emulating Chelsea’s success during the Abramovich era, which included five Premier League titles and two Champions League crowns among 19 major trophies. There was also a late proposal from British billionaire Jim Ratcliffe. “Our vision as owners is clear: we want to make the fans proud,” Boehly said.

Boehly’s winning bid is backed by California-based private equity firm Clearlake Capital. It includes a £2.” Chelsea had been operating under a special government licence which would have expired on May 31 if Boehly had been unable to seal the purchase.” Chelsea had been operating under a special government licence which would have expired on May 31 if Boehly had been unable to seal the purchase.5 billion purchase of shares and £1.75 billion for further investments to benefit the club. Boehly’s group needed approval from the Premier League, the British government and Portuguese authorities — Abramovich has Portuguese citizenship — before the sale could be completed. The bid was signed off by the EPL and UK government last week. “I personally want to thank ministers and officials in the British Government, and the Premier League, for all their work in making this happen,” Boehly said.

“We’re all in — 100% — every minute of every match,” Boehly said in a separate statement. — AFP Advertisement. “Along with our commitment to developing the youth squad and acquiring the best talent, our plan of action is to invest in the club for the long-term and build on Chelsea’s remarkable history of success.” Chelsea won 21 trophies under Abramovich, including the EPL five times and the UEFA Champions League twice. The club’s takeover by Boehly, one of the owners of the Los Angeles Dodgers baseball team and former Guggenheim Partners President, is a milestone moment for elite football in England. It means that next season, for the first time, more than half the teams competing in the EPL will be backed by American money.

Boehly was advised by Deutsche Bank AG, Goldman Sachs Group Inc, Moelis & Company LLC and Robey Warshaw. Subscribe to Mid-day email alert We deliver news to your inbox daily .