Chelsea FC say they will sell Bohli’s US lead group.

Chelsea FC say they will sell Bohli’s US lead group.

Chelsea, the Premier League football team that was forced to sell when Russian oligarchs bankrolled its success, was placed under strict sanctions and bought a consortium led by American billionaire Todd Bohley. Ga, who owns a stake in the Los Angeles Dodgers. The club said on Saturday.

The value of 2.5 2.5 billion, or 1 3.1 billion, will be the highest ever paid for a team in any sport. The most unusual sale in the modern history of the sport still requires the approval of the British government, which imposed sanctions on club owner Roman Abramovich in the wake of Russia’s invasion of Ukraine and froze his assets, including Chelsea. Were given .

In a statement posted on its website earlier this week, Chelsea said the proceeds from the sale would be transferred to a frozen British bank account, with the intention that eventually all funds would go to charity. Yes, as Abramovich promised.

In addition to the sale price, Chelsea said Bohli’s group had promised to invest 75 1.75 billion in the club, some of it for much-needed stadium renovations.

Bohley’s group is backed by the American investment firm Clearlake and includes Hansjorg Wyss, a Swiss businessman, and Mark Walter, an American financier who serves as a co-owner and chairman of Dodgers.

The decision limited two tumultuous months to Chelsea, his fans and Abramovich, who on 2 March stated that he had reluctantly agreed to leave the team, just as the British government had welcomed him. Fortune and its business are moving forward with sanctions.

The sale accelerated when the government formally froze Abramovich’s assets, part of a broad set of sanctions imposed on a group of wealthy Russians with ties to Moscow since the start of the war in Ukraine. The government has declared Abramovich a close ally of Russian President Vladimir Putin.

Chelsea has been in a state of extinction ever since, operating under a special government-issued license, which comes with strict conditions that have severely affected its business. The team is currently unable to buy or sell players in the Summer Transfer Market, nor can it sell tickets or goods to its supporters. Its costs have been severely curtailed, affecting everything from team travel to program printing and sales.

The sanctions were aimed at ensuring that Abramovich did not receive any money, only to be removed once the sale was completed.

Chelsea, led by Thomas Tochl, the German coach who won the Champions League within months of taking over at Stamford Bridge last year, struggled on the field trying to navigate his new reality. The results are mixed: while Tuchel’s side are currently third in the Premier League, they were knocked out of the lucrative Champions League last month. Several players whose contracts have expired have announced that they will be leaving at the end of the season, and until the sale is completed, Tochel and the club have no way of replacing them.

Bohley’s group was given a week to close the deal after being selected as a preferred bidder last week by New York-based advisory firm Rhine Group and Chelsea board members.

The sale was nearing the end of last week when it appeared to be on the rise, with Jim Ratcliffe, one of Britain’s richest men, announcing a bid to sign the Bohli Consortium after the deadline. Reflected the offer. On Wednesday, Ratcliffe, who insisted on his British credentials in his presentation, said Ryan had rejected his offer but vowed to continue fighting to keep the team safe.

Chelsea’s price tag compares it to a ح 1.8 billion valuation ($ 2.3 billion) for rivals Arsenal in London. Became owners Approved by Russian oligarch Alisher Usmanov for more than 700 700 million. Unlike Chelsea, Arsenal have a modern stadium and a stable finances.

The UK Treasury will have to issue a separate license for the sale, with specific clauses stipulating that no proceeds from the sale go to Abramovich.

Buyers and the Rhine have discussed the possibility of income for war victims in Ukraine, an idea Abramovich raised when he said he would forgive a huge debt owed to him by the club. Will But it is unclear how such a transfer would work.

Abramovich invested nearly 2 billion in his personal funds as his 19-year-old boss, during which time he made up for the loss of nearly ً 1 million a week by recruiting some of the best players in the world. ۔ The strategy was costly but successful: Chelsea enjoyed the most successful period in its history, winning a series of national and international titles, winning five Premier Leagues and two European Cups.

If Bohli’s deal to buy the team comes with the required approvals from the government and the Premier League, which also has to be blessed with sales, then his group will have to find a way to maintain that success while The losses associated with must be met. Succeeding on the field and pledging millions of dollars for the renovation of Chelsea’s old Stamford Bridge Stadium, with a capacity of just over 40,000 from the grounds that host the biggest teams in the Premier League.

The sale has been a curious one, given the way it began, according to Joe Reeves, a Russian-speaking banker and co-founder of the New York-based Rhine. The announcement that Chelsea is available for sale has attracted worldwide interest, attracting a mix of serious candidates with a track record of success who have publicly expressed interest in buying Chelsea in the news media. Used to enhance your profiles. .

Reeves has said little in public, albeit a shocking – and yet unconfirmed claim – that Chelsea and other Premier League teams could be worth more than 10 10 billion in five years.

The move, while a quick move to take over the size of Chelsea, was also ridiculed by some quarters as the deadline for final offers was repeatedly extended to extract the highest price, even from sellers. Abramovich was not expected to be paid. The very public nature of the sale also means such a check which has caused some embarrassment to the potential buyers.

A joint offering by the Ricketts family, owners of Chicago Cabs, and hedge fund billionaire Ken Griffin, the head of the family in 2019, to address racist claims following anti-Muslim emails sent by Ricketts Was struggling Efforts to remove the bid from Ricketts and statements emphasizing the family’s opposition to racism failed to persuade some Chelsea supporters, and Ricketts withdrew from the process last month, leaving three final bidders. gone.

All three groups – one led by Boston Celtics co-owner Stephen Pagliuka and the other funded by another basketball-owned group, the Philadelphia 76ers owners Josh Harris and David Blitzer – made one final push last week. Met Chelsea while traveling to London. He expressed his views on ensuring that Chelsea remain a relevant force in domestic and European football. How can her women’s team build on their current success? And how he planned to settle the Chelsea stadium dispute.

Under an agreement signed by Abramovich’s predecessor Ken Bates, Chelsea could not effectively relocate to another stadium, leaving the only option was the costly reconstruction of Stamford Bridge, on which Abramovich’s secured plans in 2018 Will cost more than $ 1 billion.

Upon entering the Premier League, Bohli’s group will join the ranks of American investors attracted to the world’s richest and most popular football league. The revenue of the Premier League and the competition of its nearest rivals reached the dwarf. But maintaining a competitive edge will not be easy – or cheaply – with the current top team, Manchester City, which has recently acquired the seemingly endless funds of the UAE royal family and Newcastle Saudi Arabia. ۔

Without the kind of strict financial guidelines that exist in professional sports in the United States and without the promise of meeting the expectations of a generation of Chelsea fans, the success brought and purchased by Abramovich was a lot. Opportunity to lose something. Money is a very real possibility immediately.

Chelsea’s latest accounts show that Abramovich absorbed nearly $ 2 billion in losses to turn the Blues into a major force, boosting the player trading market as he did. The kind of money Abramovich paid to bring high talent to West London was unprecedented, and he started a spiral of inflation that would only extend to government clubs in England and beyond. Has arrived.

Chelsea said in a statement that it expects to complete the sale “by the end of May” subject to all necessary regulatory approvals – just in time for the start of the summer transfer window.

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