The consortium led by Todd Boehly, chairman and CEO of Eldridge, and Clearlake Capital Group, L.P. (with its affiliates, Clearlake), announced completion of the ownership transfer of Chelsea Football Club (Chelsea FC). 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 has received all necessary approvals from The Government of the United Kingdom, 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. Boehly will serve as Chairman of the holding company.
Boehly and Clearlake are committed to enhancing Chelsea’s competitiveness, including the redevelopment of Stamford Bridge, investment in the Academy, Women’s Team, and Kingsmeadow stadium. The owners will continue the vital work of the Chelsea Foundation.
What does the future hold for Chelsea FC?
“We are honoured to become the custodians of Chelsea FC. We’re in 100% every minute of every match. 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. I personally want to thank ministers and officials in the British gov’t, and the Premier League, for all their work in making this happen,” Boehly further commented.
Commenting on the deal, Behdad Eghbali and José E. Feliciano, Clearlake co-founders and managing partners, said, “We are excited to commit the resources to continue Chelsea’s leading role in English and global football, and as an engine for football talent development.”
“We want to thank the authorities for all their work throughout the process. As pioneers in sports and media investing, we are thrilled to partner with Todd and the consortium to grow the Club as a global platform. We will expand the Club’s investment across infrastructure, tech, and sports science to support the incredible Chelsea football and commercial teams, all with the goal of leveraging this growth to fuel even more on-pitch success,” they added.
Who were the strategic partners in the transaction?
The new ownership group wishes to recognise the dedication and professionalism of the Department for Digital, Culture, Media and Sport, HM Treasury, and the Premier League in conducting their reviews of this historic and complex transaction.
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. The Raine Group was the exclusive financial advisor to Fordstam Limited and Chelsea FC. Northridge Law LLP, Simmons & Simmons LP, and Pillsbury, Winthrop, Shaw, Pittman LP served as legal counsel.