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There is a new ownership group at Chelsea, headlined by Todd Boehly and Mark Walter. The club was previously owned by Russian billionaire Roman Abramovich, who stepped down from his roles due to his ties to Vladimir Putin amid Russia’s invasion of Ukraine.
Chelsea Football Club announced that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Club.
— ESPN FC (@ESPNFC) May 7, 2022
The sale is expected to complete in late May subject to all necessary regulatory approvals. pic.twitter.com/S9SbBKNEiX
Boehly is the CEO of Eldridge Industries and is no stranger to sports teams. He has stakes in the Los Angeles Lakers, Los Angeles Dodgers, Los Angeles Sparks and Washington Spirit. Walter, the CEO of Guggenheim Partners, shares several of those interests with Boehly. Wyss is a Swiss billionaire who has no other ties to sports ownership outside of this bid for Chelsea.
As part of the agreement to sell the club amid pressure from fans and sponsors, Abramovich will not see any of the profits from the sale. This ownership takeover likely won’t impact business at the club, but it’s not exactly a welcome sight for fans. American ownership groups invading European soccer markets was seen as one of the factors in the proposal of the European Soccer League, a rogue European competition featuring the biggest clubs in the sport.