Todd Boehly – Adomonline.com https://www.adomonline.com Your comprehensive news portal Sun, 22 Jun 2025 18:42:06 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 https://www.adomonline.com/wp-content/uploads/2019/03/cropped-Adomonline140-32x32.png Todd Boehly – Adomonline.com https://www.adomonline.com 32 32 Premier League contact Chelsea over Boehly ticket website https://www.adomonline.com/premier-league-contact-chelsea-over-boehly-ticket-website/ Sun, 22 Jun 2025 18:42:06 +0000 https://www.adomonline.com/?p=2547058 The Premier League have written to Chelsea to seek clarification over the club’s position with ticket re-sellers – amid controversy over Todd Boehly’s involvement in Vivid Seats.

Boehly is both a director and investor in Vivid, described as an “unauthorised ticket seller” by the league, and also owns a 13% stake in Chelsea.

The website lists Chelsea matches on its platform, with some tickets last season at Stamford Bridge going for as much as £20,000. It is not allowed to operate in the United Kingdom, although is permissible overseas.

Chelsea Supporters’ Trust asked the Premier League to “act and investigate” the situation which they believe is both a “breach of trust and “a clear conflict of interest” in an open letter issued in March.

Premier League CEO Richard Masters has explained they are discussing the matter with Chelsea in a situation described as “ongoing” at a Football Supporters’ Association event last week.

The Supporters’ Trust has also submitted evidence against the American company to the government’s Department for Culture, Media and Sport (DCMS).

Boehly, Chelsea and Vivid have been contacted for further comment.

Vivid CEO Stanley Chia is quoted by Sportico as saying “economic and political volatility” has impacted the ticketing market as the company’s share price fell by 61% this year.

Chelsea have recently pledged to take action on ticket touting, although without naming Vivid or other ticket re-sellers, which the CST letter said it was “encouraged” by.

There have been concerns about a “flat” atmosphere at Stamford Bridge, highlighted by previous manager Mauricio Pochettino and echoed by current head coach Enzo Maresca at times last season, amid trials of a singing section in the Conference League.

Chelsea are currently participating in the Club World Cup in the United States and next face ES Tunis in Philadelphia on Tuesday night.

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Todd Boehly suggests Chelsea owners could split over stadium plans https://www.adomonline.com/todd-boehly-suggests-chelsea-owners-could-split-over-stadium-plans/ Mon, 24 Mar 2025 08:38:06 +0000 https://www.adomonline.com/?p=2518266 Todd Boehly has suggested the consortium group which owns Chelsea could split if an agreement on the situation surrounding Stamford Bridge isn’t reached.

Co-owner Boehly and Clearlake Capital, the majority shareholder, took over Chelsea in May 2022 in a deal worth up to £4.25 billion.

Both parties have explored options of buying each other out in the past.

In an interview with Bloomberg, Boehly said alignment on the future of Stamford Bridge could determine whether the group stays together or not.

Chelsea have also explored the option of building a new stadium in the past.

“We have to think long-term about what we’re trying to accomplish. We have a big stadium redevelopment opportunity which we have to flesh out,” Boehly said.

“I think that’s going to be where we’re either aligned or we ultimately decide to go different ways.”

However, Boehly also said things were “fine” as they stand.

“What’s been written and what’s being talked about is much more ‘drama’ than what is actually happening,” he added.

“The status quo is something which is just fine. I think we’ve learned from each other and I think we’re really going to be able to work it out any which way.”

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‘The trend is in the right direction’ – Boehly https://www.adomonline.com/the-trend-is-in-the-right-direction-boehly/ Fri, 28 Feb 2025 09:48:43 +0000 https://www.adomonline.com/?p=2509695 Chelsea co-owner Todd Boehly has shrugged off criticism from the club’s fans, saying it is “par for the course” and something he can accept as long as things at Stamford Bridge are “trending in the right direction”.

The American billionaire formed part of a consortium to takeover the Blues in May 2022.

Fans gathered to protest the club’s ownership on Tuesday night, prior to their 4-0 home win against Southampton, with seismic spending and inconsistent performances on the pitch forming the basis of much of the frustration.

Boehly was asked about receiving criticism from fans at the FT Business of Football Conference in London, to which he replied: “I think it is just par for the course.

“The reality is that the sooner you learn you can’t keep everyone happy all the time, then freedom comes from that.

“You are just trying to execute a plan, but you recognise things aren’t linear. As long as you are trending in the right direction, then you feel better. I think the trend is in the right direction and that’s the thing that matters.

“In June, it will be three years – and it isn’t a lot of time. As a 60-year-old, especially in an industry with so little downtime, it’s a whirling dervish of activity when you step on.

“It’s a steep learning curve, but I think that’s a good thing.”

On Chelsea’s recent form, Boehly added: “December was peak but, eight weeks out, things are a little different now.

“If you look at the foundations being built, new management team, new academy leadership, sporting director leadership and player mindset. All that’s there and now it is about cultivating the development of the team.

“You are always going to try to get better.”

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Chelsea co-owners looking to buy each other out https://www.adomonline.com/chelsea-co-owners-looking-to-buy-each-other-out/ Sat, 07 Sep 2024 12:15:51 +0000 https://www.adomonline.com/?p=2445512 Chelsea’s co-owners are looking to buy each out amid a rift at board level.

Chairman Todd Boehly and majority owners Clearlake Capital are both prepared to take full control of the club.

Boehly has gradually lost power despite being named co-controlling owner after the club’s purchase from Roman Abramovich for £2.5bn in July 2022, with Clearlake – which owns a 61.5% stake – in primary control at Stamford Bridge.

Clearlake co-founder Behdad Eghbali has become the most hands-on figure within the ownership group since Boehly stepped down as interim sporting director in January 2023.

Multiple figures in the senior hierarchy now recognise there is a rift between two main blocs – Clearlake and the group allied to Boehly, including billionaire partners Hansjorg Wyss and Mark Walter, which owns the other 38.5% of the club.

Any rift has previously been denied by sources at the club.

Clearlake does not want to sell any of its stake in the club and is open to expanding it.

But Boehly also wants to buy out that stake and is keen to see the situation resolved quickly.

The two parties have matching rights and blocking options, should third parties come to the table.

The issue has been kept from most involved in the sporting side of the club, but some senior figures believe work on revamping or moving stadium has slowed due to the situation.

As part of a written agreement, the chairman will change every five years, which is due to see Boehly step down in 2027.

Clearlake would need to approve any sale of Boehly’s shares to a third party.

Since the 2022 takeover, Chelsea have spent over £1bn on new signings and were criticised for hoarding players during the summer transfer window, with 42 senior players on the books at one point, although that number was cut to 36.

Current manager Enzo Maresca was hired from Leicester in July to replace Mauricio Pochettino, who left Stamford Bridge after only one season in charge.

Pochettino, who departed by mutual consent, was the latest boss to leave under the new owners, who had previously sacked Thomas Tuchel and Graham Potter.

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Chelsea form shows plan is coming together – Boehly https://www.adomonline.com/chelsea-form-shows-plan-is-coming-together-boehly/ Thu, 09 May 2024 11:22:01 +0000 https://www.adomonline.com/?p=2392215 Chelsea chairman Todd Boehly says the team’s recent form is proof the club’s plan is “coming together” under Mauricio Pochettino.

The Blues are unbeaten in their past three matches, beating West Ham and Tottenham after a spirited draw at Aston Villa.

Those results have helped Chelsea climb up to seventh in the Premier League, which could secure European football next season, while they are just two points behind sixth-placed Newcastle.

Boehly was accused of making the club a “laughing stock” by a supporters’ group in March but the American says the board’s plans are starting to come to fruition.

Speaking at a Sportico conference in Los Angeles on Wednesday, Boehly said: “We’ve seen the last two and a half games… in the second half at Aston Villa [2-2 draw] and Tottenham [2-0 win] and West Ham [5-0 win] where we played beautiful football.

“It was so fluid, it was exactly the way we drew it up, when we came out of the back, built up and moved up the pitch, [it was] very organised and the number of shots we had.

“In those two and a half games, you could really start to see what we were working on coming together.”

Boehly says recent performances have changed the “commentary” about the club.

Despite the on-field improvements, doubts remain over Pochettino’s future at Stamford Bridge.

The former Tottenham boss signed a two-year deal with the club last summer but said earlier this month he had been given no assurances over his future.

“I wanted to say that it is enough with this type of rumours, that if I have one year more [under] contract here and no-one says nothing [to me], [I] suppose I’m going to be here,” the Argentine said.

Chelsea’s next game is at Nottingham Forest on Saturday, before they travel to Brighton on 15 May and host Bournemouth on the final day of the season (19 May).

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Chelsea owners agree deal to buy majority stake in Strasbourg https://www.adomonline.com/chelsea-owners-agree-deal-to-buy-majority-stake-in-strasbourg/ Fri, 23 Jun 2023 07:04:00 +0000 https://www.adomonline.com/?p=2263738 Chelsea’s owners have agreed a deal to buy a majority stake in French Ligue 1 club Strasbourg.

Chairman Todd Boehly has previously said a multi-club model is a good pathway for young players to gain experience.

The size of the stake is unknown – however, it has been reported the Blues will pay 75m euros (£65m) for close to 100% ownership.

Club president Marc Keller said it was an “important day” for Strasbourg.

The former West Ham midfielder added that while there was “no financial urgency” to the agreement, the shareholders were aware the club had “reached the ceiling of our model” and needed investment in order to develop their ambition.

“This is an important day for Racing,” said Keller. “It’s something my shareholder friends and I have been thinking about for the past two years. We’ve built a club that’s healthy at every level and well-managed.”

BlueCo, the consortium led by American Boehly that purchased Chelsea in a £4.25bn takeover with private equity firm Clearlake Capital in 2022, said: “It is an honour for us to be part of this historic club.

“We are committed to preserving the heritage of Racing and are focused on working closely with Marc and his management team to continue the excellent work they have been doing.

“This strategic investment would further our presence in European football, alongside our ownership of Chelsea. We believe it would create huge opportunities to share knowledge and expertise.”

Strasbourg said BlueCo intends to make an “active contribution” by investing in the men’s and women’s teams, plus the academy.

The French side would also be able to “exchange advice and expertise with Chelsea” and any other teams the owners are involved with.

The Blues have endured a difficult first season under their new ownership, sacking two managers and finishing in 12th place – their worst Premier League position for nearly 30 years.

Strasbourg also found themselves struggling during 2022-23 and finished 15th in the French top flight.

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Todd Boehly appointed as new Chelsea chairman https://www.adomonline.com/todd-boehly-appointed-as-new-chelsea-chairman/ Wed, 22 Jun 2022 10:01:29 +0000 https://www.adomonline.com/?p=2129324 Todd Boehly has been confirmed as the new Chelsea chairman amid a series of new appointments to the club’s board.

A consortium led by American investor Boehly completed the takeover of the Blues last month.

He takes up the role of chairman after it was announced Bruce Buck will step down after 19 years.

Chelsea also confirmed the departure of director Marina Granovskaia, with Boehly taking over the role until a permanent replacement is appointed.

But Granovskaia will “remain available” to the club for the duration of the summer transfer window to help with the transition.

“As custodians of Chelsea FC, we now begin executing our long-term vision and plan for the club, creating an outstanding experience for its passionate, loyal fans and continuing to challenge for top honours in line with Chelsea FC’s decorated history,” said Boehly.

“Working together, side-by-side, we are firmly committed to winning, both on and off the pitch. For us, that effort has begun.”

Other confirmed board members are:

  • Behdad Eghbali and Jose E. Feliciano – co-controlling owners of Chelsea FC, and co-founders and managing partners of private equity firm Clearlake Capital
  • Mark Walter – co-owner of Chelsea FC, co-founder and CEO of Guggenheim Partners, owner of Los Angeles Dodgers, Los Angeles Lakers, and Los Angeles Sparks
  • Hansjorg Wyss – co-owner of Chelsea FC, founder of charity the Wyss Foundation
  • Jonathan Goldstein – co-owner of Chelsea FC, co-founder and CEO of investment firm Cain International
  • Barbara Charone – director and co-founder of a music PR firm
  • Lord Daniel Finkelstein OBE – columnist and former executive editor of The Times
  • James Pade – partner and managing director of Clearlake Capital
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Chelsea confirm Boehly consortium has completed takeover https://www.adomonline.com/chelsea-confirm-boehly-consortium-has-completed-takeover/ Tue, 31 May 2022 09:32:29 +0000 https://www.adomonline.com/?p=2120145 Chelsea’s £4.25bn sale to a consortium led by American investor Todd Boehly has been completed.

The club was put up for sale in March before previous owner Roman Abramovich was sanctioned over his links to Russian president Vladimir Putin.

Chelsea had been operating under a special government licence which would have expired on 31 May.

Todd Boehly attended Chelsea’s Premier League game against Watford on 22 May

Boehly said in a statement that he was “honoured” and “wanted to make fans proud”.

His consortium fought off 11 serious rivals to become the new owners, in a sale process that started on 2 March and comprised more than 250 enquiries.

“We are honoured to become the new custodians of Chelsea Football Club,” he said.

“We’re all in – 100% – every minute of every match. Our vision as owners is clear: we want to make the fans proud.

“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.

“I personally want to thank ministers and officials in the British government, and the Premier League, for all their work in making this happen.”

The UK government – which said last Wednesday it could issue a licence for the sale of the club – does not want Abramovich to receive any of the proceeds from the sale, which will instead go into a frozen bank account to be donated to charities supporting victims of the war in Ukraine.

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OFFICIAL: Chelsea confirm Todd Boehly takeover to end Abramovich reign https://www.adomonline.com/official-chelsea-confirm-todd-boehly-takeover-to-end-abramovich-reign/ Sat, 28 May 2022 08:52:02 +0000 https://www.adomonline.com/?p=2119299 Chelsea have announced they have entered into a final agreement with Todd Boehly/Clearlake Capital consortium to sell the club.

“Chelsea Football Club can confirm that a final and definitive agreement was entered into last night to sell the club to the Todd Boehly/Clearlake Capital consortium,” read a statement on the club’s website.

“It is expected that the transaction will be completed on Monday. The club will update further at that time.”

The deal will end 19 years of ownership under Roman Abramovich.

The Russian oligarch was sanctioned following Moscow’s invasion of Ukraine, because of his links with president Vladimir Putin.

The Kremlin’s decision to enter into a war with its neighbour ultimately meant Abramovich needed to sell the club to keep it alive – but only if he would not profit from it.

Chelsea have been operating under a special licence which kept the club running, but with big limitations.

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Chelsea: Premier League approves takeover deal from Todd Boehly consortium https://www.adomonline.com/chelsea-premier-league-approves-takeover-deal-from-todd-boehly-consortium/ Wed, 25 May 2022 09:06:52 +0000 https://www.adomonline.com/?p=2117847 The Premier League has approved the £4.25bn takeover of Chelsea by a consortium led by LA Dodgers co-owner Todd Boehly.

The league says the consortium has passed its owner’s and directors’ test.

The Premier League club was put up for sale before owner Roman Abramovich was sanctioned over his links to Russian president Vladimir Putin.

The purchase remains subject to the Government issuing the required sale licence.

The final stages of the transaction will then need to be completed.

The government does not want Abramovich to make any proceeds from the sale but sources are optimistic about a deal being finalised on Tuesday night.

“We now believe everyone will be ready to issue the necessary licences” said one insider.

“The last remaining hurdle boils down to a number of final technical details that are being discussed with the club.”

Earlier this month the deal had seemed close to collapse over concerns proceeds would not reach good causes as promised by Abramovich.

Abramovich denied that he had asked for his £1.5bn loan to Chelsea be repaid when the club was sold.

Several parties expressed an interest but Chelsea agreed to sell to the Boehly-led consortium earlier in May.

The consortium is led by Boehly but Clearlake Capital, a Californian private equity firm, would own a majority of the shares in Chelsea. Other investors include US billionaire Mark Walter, also a co-owner of the LA Dodgers, and Swiss billionaire Hansjoerg Wyss.

Chelsea have been allowed to continue operating under a special government licence which expires on 31 May.

Chelsea’s sale – the key moments

  • 24 February: Russia invades Ukraine
  • 26 February: Roman Abramovich gives “stewardship and care” of club to charitable foundation
  • 2 March: The Chelsea owner says he plans to sell the club
  • 10 March: The UK government sanctions Abramovich
  • 5 May: Abramovich denies he has requested a £1.5bn loan he made to Chelsea is repaid
  • 7 May: Todd Boehly agrees a £4.25bn deal for the club
  • 16 May: Government insider says the deal is close to collapse
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Chelsea: UK government issue licence for Todd Boehly’s takeover https://www.adomonline.com/chelsea-uk-government-issue-licence-for-todd-boehlys-takeover/ Wed, 25 May 2022 08:47:57 +0000 https://www.adomonline.com/?p=2118004 The government has approved the £4.25bn takeover of Chelsea by a consortium led by LA Dodgers co-owner Todd Boehly.

The London club was put up for sale in March before owner Roman Abramovich was sanctioned over his links to Russian president Vladimir Putin.

On Tuesday, the Premier League said the consortium had passed its owners’ and directors’ test.

Chelsea have been operating under a special government licence which expires on 31 May.

“Late last night the UK government reached a position where we could issue a licence that permits the sale of Chelsea,” a government spokesperson said in a statement on Wednesday.

The government does not want Abramovich to receive any of the proceeds from the sale, which will instead go into a frozen bank account to be donated to charity.

The statement added: “Following the sanctioning of Roman Abramovich, the government has worked hard to ensure Chelsea has been able to continue to play football. But we have always been clear that the long-term future of the club could only be secured under a new owner.

“Following extensive work, we are now satisfied that the full proceeds of the sale will not benefit Roman Abramovich or any other sanctioned individual. We will now begin the process of ensuring the proceeds of the sale are used for humanitarian causes in Ukraine, supporting victims of the war.

“The steps today will secure the future of this important cultural asset and protect fans and the wider football community. We have been in discussions with relevant international partners for necessary licences required and we thank them for all their cooperation.”

Earlier this month the deal had seemed close to collapse over concerns proceeds would not reach good causes as promised by Abramovich.

Abramovich denied that he had asked for his £1.5bn loan to Chelsea be repaid when the club was sold.

Several parties expressed an interest but Chelsea agreed to sell to the Boehly-led consortium earlier in May.

The consortium is led by Boehly, but Clearlake Capital – a Californian private equity firm – would own a majority of the shares in Chelsea. Other investors include US billionaire Mark Walter, also a co-owner of the LA Dodgers, and Swiss billionaire Hansjorg Wyss.

Chelsea finished the Premier League season in third place, losing both the EFL Cup and FA Cup finals to Liverpool on penalties, and going out of the Champions League in the quarter-finals.

Former Chelsea chief executive Peter Kenyon told BBC Radio 4’s Today programme the move would be a “complete relief” for everyone connected to the club.

“Today’s announcement will be complete relief that [Chelsea] can get on with business as usual and do what is needed to ensure the team is best prepared for next season,” said Kenyon.

“We’ve got a very short transfer window and plans will have been made before.

“They have already lost some players through not being able to re-sign them so I think everybody – the squad and the management – will be relieved they can get on with the job they’re employed to do.”

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Chelsea takeover: Government ministers fear club sale could ‘fall apart’ https://www.adomonline.com/chelsea-takeover-government-ministers-fear-club-sale-could-fall-apart/ Tue, 17 May 2022 09:04:34 +0000 https://www.adomonline.com/?p=2115236 Ministers are worried a £4.25bn deal to buy Chelsea may be at risk of “falling apart” due to a lack of consensus with the club over the proceeds of any sale, the BBC has learned.

According to a UK government insider, there is now “alarm” in Whitehall that the takeover of the European champions could be “timed out” if deadlines are not met.

Chelsea have agreed terms on a deal with a private-equity funded consortium led by US investor Todd Boehly, co-owner of the LA Dodgers baseball team.

The club was put up for sale before owner Roman Abramovich was sanctioned for his alleged links to Russian president Vladimir Putin following the invasion of Ukraine.

However a senior Whitehall source revealed there was now “serious concern” that the oligarch was “willing to let Chelsea go under” over an alleged “refusal to agree to a sale structure that gives ministers confidence that proceeds would go to a good cause”.

The government version of events was disputed by sources close to Abramovich when approached. Chelsea have also been approached for comment.

Chelsea are operating under a special licence from the UK government which expires on 31 May, and any takeover requires the approval of ministers and the English football authorities.

Abramovich has said he has not asked for a £1.6bn loan to Chelsea to be repaid when the club is sold. Earlier this month a spokesperson for the billionaire confirmed he “remains committed” to making sure the proceeds from the sale “go to good causes”.

In a statement put out by Chelsea on 5 May, the Russian’s spokesperson said money from the sale of the club would be “frozen and subject to a legal procedure governed by authorities”, they added “there funds are still earmarked” for a charitable foundation.

“To be clear, Mr Abramovich has no access or control of these funds and will not have any access or control of these funds following the sale.”

However, the government insider said approval was being hindered by the club’s “complicated” ownership structure, with parent company Fordstam Ltd owing £1.6 billion to Jersey-based Camberley International Investments, a company with suspected links to Abramovich.

“Two big sticking points remain – where exactly the proceeds of the sale will be held, and what legal guarantees government will be given about the money going to good causes,” they said.

“Essentially, despite committing to all proceeds going to good causes in public, Abramovich seems unwilling to give the same legal commitments, which would have backed up his public statements of about a week ago, that in the deal neither he nor his affiliates could basically try and stake a claim to that unpaid debt between Fordstam and Camberley.

“A deal which would allow the cash to be diverted during the deal would be a breach of sanctions and is seen as a red line for ministers.”

The source added: “There are deadlines at the end of this month and the start of June, which would either see the club booted out of European competition or the Premier League entirely. But a good chunk of the sale needs to be done this week or next.”

It is understood any sale would need to be completed by early June when the Premier League meets to grant clubs the licenses needed to compete next season.

The government is understood to have proposed a two-stage process where the money from any sale would be held in a managed ‘escrow’ account, and only released once it is satisfied that a charitable foundation is ready.

A source close to the Boehly consortium told the BBC: “The consortium is committed to buying Chelsea and contributing to the success of English football.

“They are delighted that their plans have been accepted by the club, and welcome the constructive conversations they’ve had with the government and football authorities.

“The proceeds of the sale are a matter for the seller and the government to resolve.”

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Check-out the faces behind consortium that purchased Chelsea https://www.adomonline.com/check-out-the-faces-behind-consortium-that-purchased-chelsea/ Mon, 09 May 2022 13:16:01 +0000 https://www.adomonline.com/?p=2112645 Chelsea’s new owners are all but confirmed, with the club agreeing terms on its £4.25bn ($5.2bn) sale to a consortium led by Todd Boehly.

But who are the key people behind the consortium?

BBC Sport takes a look.

  • Todd Boehly
Todd Boehly

Todd Boehly leads the consortium. He owns 20% of seven-time baseball World Series champions the LA Dodgers and is also a part-owner of US women’s basketball outfit the Los Angeles Sparks.

Together with Mark Walter, he also has a 27% stake in NBA franchise the Los Angeles Lakers.

In 2015, Boehly founded Eldridge Industries, a private holding company that invests in multiple industries. Through Eldridge, he has invested in life insurance firms, real estate companies and technology companies, as well as Bruce Springsteen’s song rights and sports betting firm DraftKings.

In the food industry, he has invested in Aurify Brands – which owns restaurant chains such as Le Pain Quotidien – as well as American brand Chuck E. Cheese.

He is also the interim chief executive of the Hollywood Foreign Press Association.

  • Clearlake Capital

Clearlake Capital is a Californian private equity firm, which would own a majority of the shares in Chelsea.

Led by Jose E. Feliciano and Behdad Eghbali, it has more than $72bn (£58bn) of assets under management, and has led or co-led more than 300 investments.

However, none of these to date have been in sport, with its portfolio focusing on the software and technology, energy and food and consumer services industries.

  • Mark Walter
Mark Walter

Mark Walter is the chief executive of Guggenheim Partners, a privately held global financial services firm that has headquarters in New York and Chicago. Guggenheim Partners has more than $310bn (£250bn) in assets under management.

Like Boehly, Walter, 61, is also a co-owner of the LA Dodgers, who won the 2020 World Series, and has a stake in the LA Lakers. In 2012, he was named the eighth most influential person in sports business by the Sports Business Journal.

His personal investments include stakes in plant-based food maker Beyond Meat and online car vendor Carvana.

He and his wife also own a wildlife preserve in Florida, which features threatened and endangered species.

  • Hansjoerg Wyss
Hansjoerg Wyss

Swiss billionaire Hansjoerg Wyss is worth $5bn (£4bn) and amassed his fortune through the sale of his medical device manufacturer Synthes to Johnson & Johnson in 2012.

He holds stakes in biotech companies Novocure and Molecular Partners.

According to Forbes, 86-year-old Wyss is “among the most philanthropic people in the world”, signing The Giving Pledge in 2013 and therefore agreeing to give away the majority of his fortune.

He has made major donations to environmental and scientific causes, with the assets of his charitable foundations totalling nearly $2bn (£1.6bn).

In 2014, he pledged $120m to two Swiss universities, the University of Zurich and ETH Zurich, to help establish a centre to accelerate medical breakthroughs, while he wrote in the New York Times in 2018 that he would donate $1bn to conservation efforts around the world over a decade.

The consortium also includes American PR executive Barbara Charone, British businessman Jonathan Goldstein and British journalist Daniel Finkelstein.

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Official: Chelsea agree sale terms with LA Dodgers’ Todd Boehly https://www.adomonline.com/official-chelsea-agree-sale-terms-with-la-dodgers-todd-boehly/ Sat, 07 May 2022 08:45:54 +0000 https://www.adomonline.com/?p=2112137 Chelsea Football Club says terms have been agreed for a £4.25bn ($5.2bn) sale to a consortium led by Todd Boehly, co-owner of the LA Dodgers baseball team.

Chelsea was put up for sale before their owner Roman Abramovich was sanctioned for his alleged links to Russian president Vladimir Putin following the invasion of Ukraine.

The new owners will pay £2.5bn for the club’s shares, a statement said.

The money will go into a frozen bank account to be donated to charity.

The consortium – led by Mr Boehly as well as Clearlake Capital, Mark Walter and Swiss billionaire Hansjoerg Wyss – will also provide £1.75bn to invest in the Premier League club.

In a statement, Chelsea said the sale was expected to complete in late May. The takeover will require approval from the English football authorities and the UK government.

Mr Boehly, an American investor and businessman, has a reported net worth of $4.5bn (£3.6bn), according to Forbes.

He is a part owner of the Dodgers – a US baseball franchise – and US women’s basketball outfit the Los Angeles Sparks, and owns a stake in the renowned LA Lakers NBA franchise.

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