The UK government approved the £4.25bn Todd Boehly consortium takeover of Chelsea Football Club following several months of negotiations and it has now been confirmed that deal has been sealed.
The club was put up for sale in March, ending Roman Abramovich 19-year ownership of the club. Abramovich was sanctioned due to his connections with Russian President Vladimir Putin.
Since then, the London Club have been operating under a special license, preventing Abramovich from profiting from any of Chelsea’s future dealings.
A statement was made by a government spokesperson saying: "Following extensive work, we are now satisfied that the full proceeds of the sale will not benefit Roman Abramovich or any other sanctioned individual. We will now begin the process of ensuring the proceeds of the sale are used for humanitarian causes in Ukraine, supporting victims of the war.”
Boehly has said he and his fellow investors feel ‘honoured’ to be the new owners and are ‘100% in - every match, every minute’.
The US investment company Clearlake Capital is taking a majority stake in the football club, although Boehly will be the controlling owner.
Who is Todd Boehly?
The American businessperson and philanthropist owns 20% of the US baseball team the LA Dodgers, he also owns a portion of women’s basketball team the Los Angeles Sparks.
The 46-year-old also has a 27% share of the renowned basketball side and seven-time MLB World Series winners the LA Lakers.
Away from sport Boehly founded Eldridge Industries in 2015, a private holding company. The company invests in all manners of industries such as insurance, asset management, and real estate.
Boehly a philanthropist, participated in founding the Boehly Center for Excellence in Finance in 2014 at William & Mary's Raymond A. Mason School of Business.
Boehly was named in the LA business journal of the 500 most influential people from 2017 to 2021.
Is Todd Boehly married?
The business guru is married to Katie Boehly who is also the co-founder Boehly Center for Excellence in Finance. His wife has also been heavily involved in philanthropy and has played a pivotal role in a charity aiming to find a cure for epilepsy.
The couple have three sons together, Nick, Zach, and Clay.
What is Todd Boehly’s net worth?
According to Forbes, the new Chelsea owner is worth $4.5bn, equating to around £3.5bn as of 2022.
Who else is part of Boehly’s Consortium takeover?
Boelhy will be joined by his partner Mark Walters who is also a co-owner of the LA Dodgers.
Further members of the consortium purchasing the club are affiliates of the Clearlake Capital Group, L.P., Todd Boehly, Hansjorg Wyss.
Abramovich brought a vast amount of wealth to Chelsea, but it seems like the club will still be a financial superpower in the football world.