The Premier League Board approved the proposed takeover of the Chelsea Football Club by a group led by Los Angeles Dodgers co-owners Mark Walter and Todd Boehly. Other members of the consortium purchasing the club are affiliates of the Clearlake Capital Group and Hansjorg Wyss.
Boehly, Walter and the remaining partners reached an agreement earlier this month to buy Chelsea Football Club for $5.33 billion, which set a new record for a professional sports team.
The Chelsea Football Club was put up for sale in March in the wake of billionaire Roman Abramovich being sanctioned by the British government after Russia’s invasion of Ukraine.
On Tuesday, the United Kingdom government issued the required sales license and completed the final stages of the transaction. “Late last night the UK government reached a position where we could issue a license that permits the sale of Chelsea,” a government spokesperson said in a statement.
The Boehly-led ownership group staved off significant interest from other suitors, including a late entrant by British billionaire Jim Ratcliffe.
Chelsea won the 2021 FIFA Club World Cup and fields a young and talented roster that should only benefit from having strong leadership in the front office, which the Dodgers have become synonymous with since the Guggenheim Baseball Management group bought the team from Frank McCourt.
Boehly & Walter business adventures
Walter and Boehly not only partnered under the Guggenheim umbrella to purchase the Dodgers in 2012, but they also bought 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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