Report: Dodgers' Todd Boehly in Exclusive Talks to Buy Chelsea for $3 Billion

Rob Goldberg@@TheRobGoldbergFeatured Columnist IVApril 29, 2022

Todd Boehly, founder and chief executive officer of Eldridge Industries LLC, participates in a panel discussion during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, Oct. 18, 2021. The event convenes the best minds in the world to tackle its most urgent challenges and to help realize its most exciting opportunities. Photographer: Kyle Grillot/Bloomberg via Getty Images
Kyle Grillot/Bloomberg via Getty Images

A group led by Todd Boehly has reportedly entered exclusive negotiations to purchase Chelsea for a reported $3 billion, per Simon Evans and Peter Hall of Reuters.

Boehly's consortium, which also includes Swiss billionaire Hansjorg Wyss and British property investor Jonathan Goldstein, was the preferred pick from Raine Group, which has handled the sale for previous owner Roman Abramovich.

Other bids led by Steve Pagliuca and Sir Martin Broughton were also considered finalists for the Premier League club.

On Friday, Sir Jim Ratcliffe announced a last-minute bid for the club worth $5.33 billion, with a large portion going to a trust for the victims of the war in Ukraine. It appears this move might be too late, with Boehly entering the final stage of purchasing the team.

Abramovich first announced the sale in early March, stating that the proceeds of the sale would go to a charitable foundation to aid the victims of the war.

The Russian billionaire was later sanctioned by the British government, preventing Chelsea from making any more money from ticket sales while keeping Abramovich from earning a profit from the team's sale.

Boehly is now positioned to purchase the team for significantly more than the $233 million Abramovich spent for the club in 2003. 

According to Forbes, Chelsea was valued at $3.2 billion last year, tied for 25th among all sports franchises worldwide.

The Premier League club is the current UEFA Champions League holders and went on to win the FIFA Club World Cup last year. The Blues are positioned to return to UCL play next year while currently third in the Premier League standings with five matches remaining.

Boehly is already familiar with major market sports teams as a co-owner of the Los Angeles Dodgers who also holds a stake in the Los Angeles Lakers and the Los Angeles Sparks. 

The 48-year-old is the founder and CEO of Eldridge Industries and has an estimated net worth of $4.5 billion, per Forbes.

A purchase of Chelsea would continue a trend of American owners in the English Premier League, following the path of Manchester United (Glazer family), Liverpool (John Henry) and Arsenal (Stan Kroenke).