The consortium led by Todd Boehly, chairman and CEO of Eldridge, and the US private equity firm Clearlake Capital has completed the ownership transfer of Chelsea Football Club.
The consortium also includes Hansjörg Wyss, founder of the Wyss Foundation, and Mark Walter, co-founder and CEO of Guggenheim Capital. Walter and Boehly are owners of the Los Angeles Dodgers, the Los Angeles Lakers, and the Los Angeles Sparks. The transaction last week got the green light from the UK government, The Premier League, and other authorities.
Under the terms of the agreement, Boehly and Clearlake will share joint control and equal governance of the club and Boehly will serve as chairman of the holding company.
Boehly and Clearlake have committed to investing in the redevelopment of the Stamford Bridge stadium, further investment in the club’s academy, the women’s team, and Kingsmeadow stadium. The new owners have also pledged to continue the work of the Chelsea Foundation.
“Our vision as owners is clear: we want to make the fans proud,” said Boehly. Along with our commitment to developing the youth squad and acquiring the best talent, our plan of action is to invest in the club for the long-term and build on Chelsea’s remarkable history of success.”
Deutsche Bank, Goldman Sachs, Moelis & Company LLC, and Robey Warshaw LLP served as financial advisors to the new ownership group. Latham & Watkins LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Sidley Austin LLP served as legal counsel.
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