Reports emerging over the past few hours have essentially all but confirmed that the consortium led by Todd Boehly and financed mostly by Clearlake Capital have won the race for Chelsea Football Club and are set to be named as the “preferred” bidders on Monday when Raine Group are expected to make their official announcement.
News has been moving quickly today after the process seemingly dragging on a bit over the past couple weeks, with the other bidding groups led by Sir Martin Broughton and Stephen Pagliuca dropping out and a late publicity stunt from Sir Jim Ratcliffe turning out to be of little consequence.
The deal is said to be worth “more than £3.5 billion”, which reportedly will include at least £1 billion earmarked for the stadium and club financing and the rest (up to £2.5b) going to charity. It’s unclear how much of any of that will be a lump sum up front or how exactly the deal is going to be structured, though that’s all academic at this point. A lot will depend on how the sanctions play out on Roman Abramovich and what the UK government will or won’t allow.
The necessary approvals from the UK government and the Premier League are not expect to take too long or pose any major hurdles, so hopefully we can have all of this settled (at least as far as our operating capacity is concerned) in the next couple weeks.
Welcome, Todd & Co. Let’s keep winning all the things!