A little over a month has passed the consortium led by Los Angeles Dodgers co-owner Todd Boehly engaged in exclusive talks to purchase the Chelsea Football Club, and this week the sale was made official.
The consortium also includes founder of the Wyss Foundation Hansjörg Wyss, fellow Dodgers co-owner Mark Walter, and British property developer Jonathan Goldstein. The group reached an agreement in May to buy Chelsea for $5.33 billion and received all necessary approvals from The Government of the United Kingdom, Premier League, and other authorities.
Under the terms of the agreement, Boehly who is the current CEO of Eldridge and Clearlake Capital Group, will share joint control and governance of the team, plus serve as chairman of the holding company.
Boehly and Clearlake said that they are committed to both investing in key areas of the franchise that will extend and enhance Chelseas’s competitiveness in all areas, which includes the redevelopment of Stamford Bridge, further investment in the Academy, the Women’s Team, and Kingsmeadow stadium.
Boehly and the ownership group are committed to deepening the work of the Chelsea Foundation which brings together the Football in the Community and the Education department in addition to international work and anti-discrimination projects.
“We are honoured to become the new custodians of Chelsea Football Club,” Boehly said in a statement. “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.”
Clearlake co-founders and managing partners Behdad Eghbali and José E. Feliciano said, “We are excited to commit the resources to continue Chelsea’s leading role in English and global football, and as an engine for football talent development. We also want to thank the authorities for all their work throughout the process.
“As pioneers in sports and media investing, we are thrilled to partner with Todd and the rest of the consortium to meaningfully grow the Club as a global platform. Together, we will expand the Club’s investment across infrastructure, technology, and sports science to support the incredible Chelsea football and commercial teams – all with the goal of leveraging this growth to fuel even more on-pitch success.”
Chelsea Football Club is set to receive deep pockets at its disposal, and because of the success of the Dodgers, the same model Boehly and Walter implement in MLB will be put into action in the Premier League.
Boehly, Walter partner beyond Dodgers & Chelsea
Walter and Boehly previously partnered together to buy Phil Anschutz’s 27% stake in the L.A. Lakers last year.
Since the Guggenheim Baseball Management group was officially introduced as Dodgers owners, the franchise has reached postseason nine times in 10 seasons, won three National League pennants (2017-18, ’20) and the 2020 World Series championship.
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