Boehly-Clearlake Group Announces The Acquisition Of Chelsea Football Club
Boehly-Clearlake Group Announces The Acquisition Of Chelsea Football Club. The Boehly-Clearlake Group has announced that it has acquired Chelsea Football Club for $5.25 billion. The club was acquired by a consortium led by Todd Boehly and private equity firm Clearlake Capital.
Chelsea Football Club said in a statement, “Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Club. Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100% to charitable causes as confirmed by Roman Abramovich. UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.” Todd Boehly is an American businessman, investor, and philanthropist. He is the co-founder, chairman, chief executive officer and controlling member of Eldridge Industries, a holding company headquartered in Greenwich, Connecticut. He is the interim CEO of the Hollywood Foreign Press Association. Boehly has an estimated net worth of $4.5 billion.
Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S. The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $72 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland.
In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation.
