Todd Boehly-led group to buy Chelsea FC in record $5 billion deal, but owner Roman Abramovich, a sanctioned Russian oligarch, won't profit
Business InsiderSep 09, 2022
The Facts
Chelsea FC has confirmed that they've agreed terms with MLB's LA Dodgers co-owner Todd Boehly's consortium in a deal worth £4.25B ($5.3B).
The deal is split into two, with £2.5B ($3.1B) being used to buy the club outright, and £1.75B ($2.2B) being committed to use on future projects at Stamford Bridge, the academy, the women's team, and other areas.
The Spin
Narrative A
The acquisition by the American-led Boehly consortium highlights the growing popularity of the Premier League in the US. With there now being more US Premier League owners than UK counterparts, and a recent $2.7B deal by NBCUniversal to extend broadcasting rights for six years, the sport is seeing an American explosion.
Narrative B
Despite the success Roman Abramovich has brought the club, Chelsea has faced an uncertain future and had been playing on borrowed time ever since the Russian invasion of Ukraine. A dicey period has come to an end for the European champs.