Boehly's Chelsea revolution continues after £65m purchase for new stadium
Chelsea and their owner Todd Boehly are in talks over a lucrative £400 million investment with US firm Ares Management. The deal, according to a report from ESPN, would help contribute to the planned expansion of Stamford Bridge. But what is known about the business and how could it benefit the Premier League side?
Chelsea have undergone plenty of changes both on and off the field in recent years. The Blues saw Roman Abramovich’s reign come to an end last year with American investor Todd Boehly taking over the club after he agreed a £4.25bn deal.
However, things haven’t gone exactly to plan. Boehly has thrown over £900 million at the club in way of transfers, including over £200 million on Moises Caicedo and Enzo Fernandez, but the team are still struggling in the league.
The club currently has a single win to its name this season, against newly promoted Luton Town, and comes off the back of their second-lowest finish in the Premier League – 12th place last season. Boehly has since gone on to look at further investment opportunities to get the club back on track, which is where Ares Management comes into play.
Ares Management, according to their website, works to “pursue investment activities in leveraged loans, high yield bonds, private debt, private equity and other types of investments”. Meaning they invest in businesses that are expected to thrive with a future view to earn more money for both themselves and their clients.
Founded in 1997 the business has over 2,600 employees, offices in 35 locations across the globe, and have £304bn in assets under management to their name. But how would their proposed £400 million investment help Chelsea?
The money would go some way to help upgrade Stamford Bridge. With a capacity of 40,343 the stadium is in need of investment which is why a £2 billion project has been touted. Boehly also stipulated that £1.75 billion would be invested in “further investment for the benefit of the club” when he took charge.
Don’t miss…
Chelsea have UCL blessing as Mauricio Pochettino targets three items to address[LATEST]
Liverpool drop early Europa League team news hint as Klopp faces Salah chat[REPORTS]
Chelsea in ‘absolute mess’ as Chalobah’s pal exposes issues behind the scenes[REVEALED]
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Ares’ involvement could see them help pay for almost a quarter of the bill. Chelsea have made some progress in the proposed upgrades after agreeing a deal in principle to buy a 1.2 acre plot of land next to the stadium belonging to Stoll – a provider of homes for military veterans.
The club could also be granted another investment in the form of iconic Blues defender John Terry. Terry is attempting to purchase a stake in Chelsea, according to The Telegraph, alongside season-ticket holder and chief executive of online technology platform PrimaryBid, Anand Sambasivan and businessman Harley Kisberg.
The deal would see the trio, and investment from fans, own a 10 percent share. The deal would be similar to Terry’s proposed ‘True Blue’ consortium that attempted to takeover the club from Abramovich.
Despite the potential influx in funds Chelsea will be hoping for immediate action on the pitch as they face Aston Villa next on Sunday, September 24.
Source: Read Full Article