Boehly’s Chelsea takeover puts US tycoon in spotlight

LONDON: Todd Boehly’s consortium has secured Chelsea’s future but the hard work is just beginning for the latest American billionaire to be lured by the promise of Premier League riches. Boehly’s group has received the approval from the British government and Premier League required to seal the £4.25 billion ($5.3 billion) deal.

Having masterminded the purchase from Roman Abramovich in less than three months despite numerous complications due to government sanctions targeting the Russian, Los Angeles Dodgers co-owner Boehly will now focus on reaping the rewards of his labors. The American has grand ambitions for the west London club as he targets sustained success on the pitch and financial growth off it.

Discussing a previous attempt to purchase Chelsea that was rebuffed, Boehly told Bloomberg in 2019: “What you are trying to build with these teams, you are really trying to A, win and B, be part of the community.” The Premier League’s global brand is a key driver of Boehly’s interest as it provides the opportunity to benefit from significant broadcast revenues and merchandising. “It’s the highest-quality play, it’s the best players,” Boehly said.

“You also have a media market that’s just developing.” Some football financial analysts believe leading Premier League clubs could be worth more than £10 billion within a decade. California investment group Clearlake will be Chelsea’s majority shareholder as part of the consortium, with Boehly becoming controlling owner.

While the consortium is clearly motivated by guaranteeing a return on their investment, Boehly would be wise to learn from the experiences of his fellow American owners at Liverpool, Manchester United and Arsenal. John Henry’s Fenway Sports Group has steered