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Premier League giant Chelsea has reportedly secured new investment in its hopes to regain past dominance on and off the pitch under second-year owner Todd Boehly.
Ares Management has invested $500 million in Chelsea, according to the Financial Times. The new capital will be used to facilitate upgrades at the 40,000-seat Stamford Bridge stadium and help acquire more soccer clubs across the globe.
Since leading a group that purchased Chelsea for more than $5 billion in May 2022, Boehly — who is also a co-owner of the Los Angeles Dodgers — has taken an aggressive approach to revitalize the English soccer club formerly owned by Russian oligarch Roman Abramovich.
In June, Boehly took the first step in building a multiclub portfolio — akin to the City Football group, which owns EPL rivals Manchester City and 10 other clubs worldwide — by acquiring Ligue 1 side Racing Club de Strasbourg for $82 million. Both the French club and Chelsea fall under Boehly’s BlueCo consortium.
In July, Chelsea agreed to purchase land next to Stamford Bridge that will be key in its ambitious goals of expanding the venue to 60,000 seats, among other major upgrades, at a cost that could reach more than $2 billion.
Chelsea finished 12th in the EPL last year and sits 14th of 20 teams after five matches played this season.
