Chelsea Football Club can confirm that terms for the acquisition of the club have been agreed by a new group owner led by Todd Bowley, Clearlake Capital, Mark Walter and Hansjörg Wyss.
£2.5bn of the total investment will be used to buy club shares, with proceeds deposited into a frozen UK bank account for 100% donation to charities, as confirmed by Roman Abramovich. A UK government approval is required to transfer funds from a frozen account.
In addition, future new owners will set aside £1.75 billion for further investment in the club. This includes investments in Stamford Bridge, the academy, women’s team and Kingsmeadow, as well as more funding from the Chelsea Foundation.
The sale is expected to be completed by the end of May, subject to all necessary regulatory approvals. More detailed information will be given at that time.” official website “blue”.
Thus, there is no doubt that the almost 20-year era of Roman Abramovich at Chelsea has come to an end. A Russian businessman is forced to sell the club due to the sanctions imposed on him by the British government. His assets in the country have been frozen and the English Premier League (EPL) has replaced him as Chelsea president and is managed by the club’s board of trustees until the sale of club assets to new owners takes place. aid agency.
What is known about Chelsea’s new owners
Todd Bowley, 46, head of the soon-to-be-acquired Chelsea consortium, is engaged in business not only in sports, but also in various fields. As such, he is the CEO of the Eldridge Industries holding company as well as the interim CEO of the Hollywood Foreign Press Association. He actively invests in insurance companies, the technology industry, the food industry and the media space.
In terms of sports organizations, Bowley owns a 20 percent stake in the Los Angeles Dodgers baseball club and is also a co-owner of the Los Angeles Sparks basketball club. And in July 2021, together with Mark Walter, he bought a 27% stake in the club of Basketball Lakers, the sports symbol of the “city of angels”.
He also participated in negotiations to buy the Washington Spirit women’s soccer club, but eventually withdrew from the deal. Chelsea will be its first overseas sports presence.
Another member of the consortium, 62-year-old Mark Walter, joined the deal to buy Chelsea at Bowley’s invitation. Walter is the main owner of Dodgers. Hansjorg Wyss, 86, a Swiss billionaire, has not yet been directly involved in sports projects. He made his fortune from manufacturing and selling medical equipment. It is interesting that he was one of the first to announce that he had received an offer to buy Chelsea.
Under what conditions will the agreement take place?
Also, according to the data Telegram, new owners must meet a number of conditions. Thus, the consortium will be prohibited from paying dividends and club management fees until 2032. In addition, the sale of club shares is prohibited during the same period. Finally, the club is prohibited from exceeding the established debt limits.
The publication states that these measures have been taken to ensure that the Premier League does not face the problem of unpopular club owners again. We are talking about the example of the Glazer family, who took control of Manchester United’s shares in 2005 and turned it into a private club and has been in constant conflict with the fans ever since.
Fans were hostile to the new owners from the very beginning, and their subsequent actions only exacerbated the conflict. Ever since businessman Malcolm Glaser borrowed money to buy United, it was because Manchester United was bought by an American family to whom the club owed money. The failed transfer policy, the gradual sale of the club’s shares, and the team’s failures after legendary Sir Alex Ferguson left the coaching bridge did not bring popularity to the Glazers.
Who else can buy Chelsea?
In addition to the Bowley-led consortium, there were other contenders for Chelsea. Among them is British billionaire Jim Ratcliffe, who also owns French Nice. He offered £4.25 billion for the London club, but Raine Bank, which oversaw the sale of the club, rejected the offer.
In addition, the intention to compete for Chelsea was voiced by the basketball Boston Celtics and a union led by American billionaire Stephen Paluca, co-owner of Italian football club Atalanta. Meanwhile, his application was supported by former Chelsea captain John Terry.
Former Liverpool president Martin Broughton’s consortium also claimed Chelsea, which includes seven-time Formula One champion Lewis Hamilton (oddly enough, an Arsenal fan) and former world number one Serena Williams.
What will Abramovich do?
One of the British authorities’ demands for Chelsea’s sale was that long-time owner Roman Abramovich would not profit from this deal. However, the Russian does not intend to leave anything.
according to information sky sportscould demand that the club repay its £1.5bn debt. The source claims that Abramovich informed the British government of his desire to recover funds borrowed after the sale of the club.
Abramovich bought Chelsea for £140m in 2003. Since then, the London club has won the English Premier League (EPL) five times, won the Champions League and Europa League twice, the FA Cup five times and the English League Cup three times.