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Dodgers part owner Todd Boehly in talks to acquire Chelsea FC: report

A group of investors led by Los Angeles Dodgers shareholder Todd Boehly are reportedly on the verge of paying $3 billion for Chelsea Football Club, the London-based Premier League team founded by sanctioned Russian oligarch Roman Abramovich is sold.

Boehly, the investment banker who co-founded Greenwich, Connecticut-based holding company Eldridge Industries, is expected to enter exclusive talks to acquire Blues. according to the Wall Street Journal.

Boehly’s group beat out two other bidders, including a group led by Boston Celtics co-owner and Bain Capital co-chairman Stephen Pagliuca, and Philadelphia 76ers co-owner Josh Harris and David Blitzer.

Jim Ratcliffe, the British billionaire who owns chemical producer Ineos, released a statement on Friday saying he had also submitted a $5.33 billion bid for the team.

Boehly (far right) is a part owner of the Los Angeles Dodgers. Left to right: co-owners Robert Patton, Stan Kasten, Mark Walter, Earvin "magic' johnson," Peter Guber and Todd Boehly.
Boehly (far right) is a part owner of the Los Angeles Dodgers. Left to right: co-owners Robert Patton, Stan Kasten, Mark Walter, Earvin “Magic’ Johnson”, Peter Guber and Todd Boehly.
AP

Chelsea was put up for sale by Abramovich after Russia invaded Ukraine and before the British government imposed sanctions on the Abramovich oligarch.

A spokesman for Ratcliffe declined to comment on the details of the offer or respond to Boehly’s entry into the exclusivity.

Boehly is reportedly offering $3 billion to take over the club from Russian oligarch Roman Abramovich.
Boehly is reportedly offering $3 billion to take over the club from Russian oligarch Roman Abramovich.
AP
Abramovich put the team up for sale in March before he faced sanctions from the UK government and the European Union.
Abramovich put the team up for sale in March before he faced sanctions from the UK government and the European Union.
Getty Images

Boehly’s consortium includes Swiss billionaire Hansjorg Wyss and British real estate investor Jonathan Goldstein.

In 2019, Boehly tried to buy Chelsea FC from Abramovich for the same sum – $3 billion – but was turned down. according to the magazine.

Abramovich, the 55-year-old businessman who is said to have close ties to Russian President Vladimir Putin, was hit by UK and European Union sanctions following Russia’s invasion of Ukraine.

The UK government’s sanctions also extended to Abramovich’s holdings, including Chelsea FC, who were forced to operate under certain restrictions.

Abramovich put Chelsea up for sale on March 2 but following the sanctions announcement the club were forced to operate under a special license and are now effectively controlled by the UK government.

Abramovich became one of Russia’s most powerful entrepreneurs, mainly in oil and aluminum, during the chaotic aftermath of the collapse of the Soviet Union in 1991. Forbes last month put his net worth at more than $13 billion.

https://nypost.com/2022/04/29/dodgers-part-owner-todd-boehly-in-talks-to-acquire-chelsea-fc-report/ Dodgers part owner Todd Boehly in talks to acquire Chelsea FC: report

DUSTIN JONES

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