Chelsea Soccer Club Bought by Todd Boehly-Led Group in $5 Billion Deal, Ending Abramovich Era

Naman Ramachandran
·2 min read
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A consortium led by Todd Boehly has struck a deal reportedly worth £4.25 billion ($5.24 billion) to acquire top English Premier League soccer club Chelsea FC, one of the highest price tags ever agreed for a sports club in history.

Boehly owns holding company Eldridge, which owns MRC and Dick Clark Productions, producers of Hollywood’s popular Golden Globes Awards, and serves as interim CEO of the Hollywood Foreign Press Association, which operates the awards. He is also an owner of the Los Angeles Dodgers, the Los Angeles Lakers and the Los Angeles Sparks.

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The others in the consortium are Clearlake Capital, real estate magnate Jonathan Goldstein, Swiss billionaire Hansjörg Wyss and Mark Walter, CEO, Guggenhiem Partners, with whom Boehly has stakes in the Dodgers and Lakers.

“Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Club,” Chelsea FC said in a statement early Saturday, local time.

“Of the total investment being made, £2.5 billion will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen U.K. bank account with the intention to donate 100% to charitable causes as confirmed by Roman Abramovich. U.K. Government approval will be required for the proceeds to be transferred from the frozen U.K. bank account.”

The statement added that the proposed new owners will commit £1.75 billion 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.

The sale is expected to complete in late May subject to all necessary regulatory approvals.

Chelsea FC has been up for sale since the Russian invasion of Ukraine, which led to the U.K. government imposing sanctions on Russian oligarchs, including club owner Roman Abramovich.

Abramovich has owned the club since 2003. Chelsea won the Champions League in 2021, and under Ambramovich has won 19 major league trophies to date.

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