Reports over the past few hours have essentially confirmed that the consortium led by Todd Boehle and funded mostly by Clearlake Capital has won the Chelsea FC race and is set to be named as the “best” bidder on Monday when they are expected to make their official announcement.
The news was moving fast today after the process had apparently dragged on quite a bit over the past two weeks, with other bidding groups led by Sir Martin Bruton and Stephen Pagliuca pulling out, and the belated publicity stunt from Sir Jim Ratcliffe turning out to be little. consequence.
It is said that the deal is worth “More than £3.5 billion”, which will reportedly include at least £1 billion earmarked for stadium and club funding and the rest (up to £2.5 billion) to charities. It’s unclear how much of this will be a lump sum up front or how exactly the deal will be structured, although that’s all academic at this point. Much will depend on how the sanctions affect Roman Abramovich and what the UK government will or will not allow.
The necessary approvals from the UK government and the Premier League are not expected to take long or pose any significant hurdles, so we hope to be able to iron all of this out (at least in terms of our operational capacity) in the next couple of weeks.
Hey, Todd & Co, let’s keep winning all things!