Deal done. A triumvirate of billionaires, backed by a powerful investment fund, will take over from Roman Abramovich as head of Chelsea. Validated by the authorities of the Premier League and the British government, this acquisition concludes a long auction process.
Chelsea had been operating under a special license since the outbreak sanctions against Abramovich whose assets were frozen following Russia’s invasion of Ukraine. An agreement was signed on Friday May 6, prefiguring the purchase for 4,97 billion euros,he largest sum ever spent on a club jock. Here’s what you need to know about thehe new owners of the two-time Champions League winner.
Todd Boehly, the enterprising
The American, whose fortune is estimated by the magazine Forbes at $4.5 billion (637th in the world’s fortune in 2022), is expected to be the public figure of the consortium, although the largest stake in Chelsea is held by US private equity firm Clearlake Capital. Involved in professional sports in the United StatesTodd Boehly, 48 ans, has held shares in the Los Angeles Dodgers baseball team since 2013. On the basketball side, he entered the capital of the Los Angeles Lakers in 2021, and holds shares in the Los Angeles Sparks Women’s NBA franchise.
He founded the company Eldridge Industries, which has invested in banking, insurance, real estate, technology, media, sports and catering. He owns assets in Cirque du Soleil, but also the musical rights of Bruce Springsteen and the magazine Billboard.
En 2019, Todd Boehly had already tried to buy Chelsea, without success. The same year, the businessman had also considered the takeover of Tottenham. Three years later, he gets his revenge.
Mark Walter, the experienced
Already associated with Todd Boehly in the takeover of the Dodgers, the 61-year-old billionaire is the big boss of Guggenheim Partners, an investment fund with assets estimated at 325 billion dollars. Following the acquisition of the baseball franchise for more than 2 billion dollars, Mark Walter appears in eighth place on the list of “50 most influential people in the world of sport“according to the magazine Sports Business (article in English).
Todd Boehly and Mark Walter can boast of their sporting and commercial successes at the head of the Los Angeles Dodgers, whose stadium, the largest in the baseball league, overlooks the city. An important asset while the modernization of Stamford Bridge must absorb a good part of the 2 billion dollars of investment promised by the new owners. With a reduced capacity of 42,000 seats, the Chelsea stadium is only in ninth position in the Premier League.
Hansjörg Wyss, the Swiss novice
This is perhaps the most discreet figure of this trio. Billionaire, Harvard graduate, founder of Synthes, a manufacturer of medical equipment, Hansjörg Wyss was, until now, not involved in professional sport. However, his support is invaluable within the group of investors.
At 86, his fortune is estimated by Forbes at 5 billion dollars (552nd world fortune). Presented as “the most influential Swiss in the worldby the Swiss newspaper BlickHansjörg Wyss is not an inveterate football fan, preferring alpine skiing.
Clearlake Capital, the American juggernaut
This private equity firm manages more than 72 billion dollars in assets, according to the british daily The Daily Telegraph (article in English). With a majority stake of 60% in the London club, it should thus play a role major in its operations.
Founded in 2006 by former Wall Street traders Jose Feliciano and Behdad Eghbali, the firm is making its first foray into sports investing with Chelsea, having made a name for itself buying industrials and software companies. Eghbali, the co-founder of Clearlake, is a huge football fan, according to The Daily Telegraph.
English football, an Eldorado for American investors
The participation of businessmen and the presence of investment funds in the capital of British football clubs is nothing new. In 2019, Silver Lake injected some 585 million euros into Manchester City. Partners RedBird Capital meanwhile bought a €624 million stake in Fenway Sports Group, which owns Liverpool, last year.
Beyond the associated prestige and publicity, part of the appeal of these American investors is the lack of restrictions on investing in British sports clubs. In the United States, private equity firms are forced to hold only 20% of the capital of a single NBA, baseball league or American football club, recalls The Daily Telegraph. It remains to know the cost-effectiveness of such efforts.
