• Loading stock data...
Wednesday, July 17, 2024
Join us this September for Tuned In Request to Attend

Chelsea Set to Begin New Era Under Todd Boehly

  • Chelsea FC is set to be sold to a consortium led by Los Angeles Dodgers, Lakers and Sparks co-owner Todd Boehly.
  • The U.K. government is finalizing details to complete the deal.
Chelsea FC

Chelsea FC is set to begin a new chapter in its history with the imminent closing of its sale to the group led by Todd Boehly.

The $5.3 billion transaction was finalized with the U.K. signing off on the deal. The British government received assurances that former owner Roman Abramovich will not receive any money from the sale. 

The Premier League approved the deal on Tuesday.

The U.K. sanctioned Abramovich for his connections to Vladimir Putin following Russia’s invasion of Ukraine.

  • The money will be held in a frozen bank account controlled by the British government. 
  • Portuguese officials will need to approve the sale, because Abramovich holds a Portuguese passport.
  • There was some urgency to complete the sale, as a special license allowing the club to operate expires on May 31. The club has been unable to make player transactions or negotiate contracts under its current license.

Clearlake’s Role

While Boehly will be the controlling owner of the club and Swiss billionaire Hansjörg Wyss will be a part-owner, neither will have a majority stake in the club. 

That distinction belongs to private equity firm Clearlake Capital, which is putting up 60% of the funds for the $3.1 billion purchase of the team itself and $2.2 billion in commitments to the team and renovations to its Stamford Bridge stadium. 

The Santa Monica-based firm’s co-founders attempted to buy 40% of the Washington Commanders in 2020, but were blocked by team owner Dan Snyder.

Copy Link
Link Copied
Link Copied

What to Read

The Mississippi Department of Human Services on Monday sued retired NFL quarterback Brett Favre along with several other people and businesses to try to recover millions of misspent welfare dollars that were intended to help some of the poorest people in the U.S.

Judge in Mississippi Welfare Case Boots Brett Favre’s Lead Lawyer

The judge wrote he had a ‘pattern and practice of delicate deception.’

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
April 13, 2024; Columbus, Ohio, USA; Ohio State Buckeyes wide receiver Emeka Egbuka (2) catches a pass for the scarlet team while defended by cornerback Jordan Hancock (7) of the grey team during the first half of the LifeSports Spring Game at Ohio Stadium on Saturday.

As NIL Turns Three, Collectives and Football Still Control the Industry

Collectives dominate NIL, and football makes up most of collective budgets.

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
podcast thumbnail mobile
Front Office Sports Today

A First Hand Report of the Copa America Chaos


Featured Today

Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.
July 14, 2024

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
July 8, 2024

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’

Angel City FC Sale Official at Record $250 Million Valuation

Disney CEO Bob Iger and wife Willow Bay now control the club.
July 1, 2024

Bobby Bonilla Day: A Look at MLB’s Top Deferral Deals and Ohtani’s Pact

Well beyond Bobby Bonilla, many current and former MLB stars have their own lucrative deferrals.
July 2, 2024

NBA and NHL Free Agency: Billions in New Deals Despite Economic Unrest

Rising revenues and salary caps are helping fuel a run of historic contracts.

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
June 24, 2024

Tiger’s Golf League Hits $500 Million Valuation Before First Swing

TGL will begin play in January 2025.
June 13, 2024

The ‘Big’ in Big 12 Could Soon Be Replaced With a Sponsor’s Name

Allstate is said to be in discussions about a deal with the Big 12.
June 13, 2024

Everything You Need to Know About the Schism Rocking Competitive Eating

The business story about hot dogs that you never knew you needed.
June 12, 2024

Saudi Arabia’s Next Big Sports Target: Boxing, With Joint Venture Worth $5B

The Public Investment Fund of Saudi Arabia is focusing on boxing as its next large-scale sports target.