Chelsea are finally set for new ownership, with Todd Boehly to be confirmed as the new head of the Blues any day now.
The American has agreed the purchase of the club and the sanctions over Stamford Bridge are set to end as a result. It's a brand new era – and there's plenty of work to do to keep this club the global powerhouse that it's been for nearly two decades.
Since 2003, Chelsea has been in the hands of Russian oligarch Roman Abramovich, with the Blues becoming the most successful club in the country over that period. Before his imposed sanctions, Abramovich saw his club pick up the Club World Cup – meaning he essentially completed football in his time as owner – leaving Boehly with huge shoes to fill…
Who is the new Chelsea owner, Todd Boehly?
Jim Boehly is an American billionaire who studied at the London School of Economics for a while. The Maryland native worked in banking and investment, making his money before branching out into the likes of technology, life insurance and real estate.
Boehly owns 20% of baseball team Los Angeles Dodgers and is a part owner of the basketball side, Los Angeles Sparks. Last year, Boehly and business partner Mark Walter acquired a 27% stake in the NBA team, Los Angeles Lakers.
Walter is involved in the Chelsea move, too. Boehly, Clearlake Capital, Walter and Swiss billionaire, Hansjorg Wyss, have all bought the Blues together as a consortium. Boehly was rebuffed when he enquired about buying the club in 2019.
What will Chelsea look like under Boehly?
Boehly has no experience of running a football team; neither does co-invester Wyss – who instead has invested his money in environmental projects over his career.
It was believed that Abramovich was less than enamoured with the idea of selling to Boehly and Wyss, not believing the pair to be suitable owners. Combined, however, the pair are worth around $9 billion.
Whether or not they invest heavily in the team is another matter, however. Chelsea has been running at a loss under Abramovich, with the owner bailing the side out – though it remains to be seen whether the new ownership will do the same. Still, with a thriving academy and plenty of links to affiliates like Vitesse, the Blues have the infrastructure to remain strong without too much heavy investment.
