With the confirmation of approval by the Premier League of ownership of Chelsea by a group led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, here according to Football Transfers is everything you need to know on Todd Boehly.
Who is Todd Boehly?
Boehly is an American businessman, investor and philanthropist, and is currently the controlling member of a holding company called Eldridge Industries. Boehly is also the interim CEO of the Hollywood Foreign Press Association.
In sporting terms, Boehly is most well-known for his part-ownership of the Los Angeles Dodgers. He owns 20% of the baseball team. Boehly is also a part-owner of the Los Angeles Lakers, a women’s basketball club based in LA.
Together with Mark Walter, Boehly acquired a 27% stake in the Los Angeles Lakers in July 2021.
Chelsea will be his first sporting venture outside LA. He actually tried to buy Chelsea back in 2019, but his bid of $3 billion (€2.84bn/£2.4bn) was turned down by Abramovich.
Will Todd Boehly be Chelsea’s new owner?
Terms have been agreed between Chelsea and Boehly for the takeover to be completed. However, it’s not yet fully confirmed.
It is now extremely unlikely that Boehly won’t become Chelsea’s new owner as his bid has been approved by the Premier League itself
After agreeing a deal with the club, the first thing on the agenda for Boehly’s group was the Premier League’s Owners’ & Directors’ Test which they have passed. It’s a process that is completed for every new or prospective new owner and outlines requirements that would prohibit an individual from becoming an owner or director of a club. These include criminal convictions for a wide range of offences including: a ban by a sporting or professional body or breaches of certain key football regulations, such as match-fixing.
This process has been completed quickly and the final step is for the UK Government to licence the sale. However, this is reportedly a formality.
Rather than Boehly, however, Clearlake Capital will hold the majority stake, which they’ve confirmed they won’t sell until 2032. Boehly, and Hansjoerg Wyss have both always wanted minority ownership. Boehly will, however, have operational control.
What is Todd Boehly’s net worth
Boehly’s net worth is a huge $4.5 billion (£3.65bn/€4.27bn) according to Forbes. At the time of writing that ranks him as the billionaire with the 637th highest net worth in the world.
How much will Todd Boehly spend on transfers?
The official statement from Chelsea revealed that Boehly “will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation.”
As well as this, it’s expected that Boehly will spend big on transfers in order to guarantee results, but it’s unlikely to be similar money to what Abramovich regularly spent. While Boehly is very rich, he isn’t on the same level as Abramovich. For example, the former Chelsea owner has a net worth of $8.8bn (£7.13bn/€8.34bn), which is almost double that of Boehly.
So, it remains to be seen how much Boehly invests in transfers.
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