Todd Boehly, the American sports business billionaire, offers Chelsea and Lukaku

At the head of a consortium of wealthy Americans, the forties have just completed, for almost 5 billion euros, the largest transaction in the history of football.

Listed for sale due to ties to previous owner, Russian oligarch Roman Abramovich, with Vladimir Putin, the club of chelseawhere Red Devils center-forward Romelu Lukaku plays, found a taker last weekend.

The lucky owner of the final winner of the Champions League, Todd Boehly (46 years) is a complete stranger in Europe. But he has the means to his ambitions. Head of the investment fund Eldridge Industrieshe raised some large fortunes to present a takeover bid of 5 billion euros, which was a sign of that the biggest club takeover operation ever.

In addition to Todd Boehly, is around the table Mark Walter (Guggenheim Partners), Swiss billionaire Hansjoerg Wyss (Synthes Medical Equipment) and US investment firm Clearlake Capital.

5 billion

Euro

Chelsea’s takeover bid is the biggest club takeover deal ever.

A billionaire whim? Yes and no. Granted, the operation is yet another American share in a European football club, following the acquisitions of Manchester United, Liverpool, Inter Milan, Atletico Madrid, to take over the most prestigious, without forgetting that a few weeks ago, Standard de Liège was taken over of the US 777 Fund. But in terms of sports club management, Tod Boehly does not need tuition from anyone.

Baseball and basketball

With a fortune of $ 4.5 billion (the 637th in the world according to Forbes), he is actually a co-owner of the Los Angeles Dodgers baseball team and the Los Angeles Lakers basketball team, one of the flagship clubs in the NBA. And we know the ability of American sports leaders to turn it into profitable entertainmentby multiplying the sources of income.

In addition, one of its main projects will consist of expand the old Stamford Bridge Stadium, whose capacity is limited to 42,000 seats, to increase revenue (tickets, merchandising, marketing, etc.). In the five million deal, there is actually an obligation to invest two in the club and its infrastructure.

Todd Boehly is all the more familiar with the music from show business – as football increasingly tends to be – as his Eldridge Industries foundation, among other things, active in Bruce Springsteen’s catalog rights and sports betting through DraftKings. Nearly ten years ago, he also entered into an agreement between Time Warner cable and Dodgers to create SportsNet LA, a regional network to broadcast all the games.



“I think being diverse really helps us overcome the cycles.”

Todd Boehly

Owner of Chelsea Football Club

Diversification

Map, a professional success as Americans love it. The man actually started from almost nothing. Grandson of German emigrants, he graduated in finance from the College of William & Mary in Virginia and studied at the prestigious London School of Economics. He cut his teeth in finance at Citibank and then at CS first Boston before joining Guggenheim partners.

He founded Eldridge in 2015, which he applied for diversify the portfolio. In addition to its interests in sports and entertainment, the foundation is also active in insurance, real estate, e-health, tech and hospitality. “I think being diverse really helps us overcome cycles”, he declared in September last year to news.yahoo.com. The acquisition of this institution of European football, which is Chelsea, is entirely in line with this strategy.

Resume Express

  • 46 years old, American of German descent
  • Graduated from the College of William & Mary in Virginia. Studied at the London School of Economics.
  • Started in finance at Citibank and then at CS first Boston
  • Created in 2015 Eldridge Industries Foundation (sports, media, entertainment, real estate, health, technologies …)
  • Acquisition with a consortium of Chelsea FC investors for 5 billion euros

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