A consortium led by dick clark productions and Los Angeles Dodgers backer Todd Boehly and Clearlake Capital Group has accomplished a deal to amass English soccer membership Chelsea for a reported £4.25BN ($5.3BN).
Boehly, Chairman and CEO of DCP and MCR proprietor Eldridge Industries, will grow to be Chairman of Chelsea FC, which completed third on this yr’s English Premier League. He will share joint management and equal governance with Clearlake.
The consortium additionally contains Hansjörg Wyss, founding father of the Wyss Foundation, and Mark Walter, co-founder and CEO of Guggenheim Capital. Walter and Boehly personal the Los Angeles Dodgers, the Los Angeles Lakers and the Los Angeles Sparks.
Chelsea, winner of six English league titles and two European Champions Leagues, went on the block earlier this yr after former proprietor Roman Abrahamovic had his British property frozen as a consequence of his hyperlinks to Russian President Vladimir Putin following the invasion of Ukraine.
“We are honoured to become the new custodians of Chelsea Football Club,” stated Boehly. “We’re all in — 100% — every minute of every match. Our vision as owners is clear: we want to make the fans proud. 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 government, and the Premier League, for all their work in making this happen.”
Deutsche Bank, Goldman Sachs, Moelis & Company LLC, and Robey Warshaw LLP served as monetary advisors to the consortium. Latham & Watkins LLP, Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Sidley Austin LLP served as authorized counsel.
The Raine Group served as unique monetary advisor to Fordstam Limited and Chelsea FC. Northridge Law LLP, Simmons & Simmons LP, and Pillsbury, Winthrop, Shaw, Pittman LP served as authorized counsel.
Boehly’s MRC and Deadline’s father or mother firm PMC have a three way partnership, PMRC, which homes PMC’s Rolling Stone, Variety and Music Business Worldwide pursuits together with MRC’s The Hollywood Reporter, Billboard and Vibe.
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