Todd Boehly has won the bidding war to buy Chelsea despite a very late bid from Sir Jim Ratcliffe, according to reports.
The Telegraph reports that the US consortium led by Boehly will be named the preferred bidder, in a deal worth £3.5billion, even though Britain’s richest man, Ratcliffe, made a late attempt at the 11th hour. Ratcliffe made a £4.25billion offer on Friday, the same day groups led by Stephen Pagliuca and Sir Martin Broughton were told they would not move forward.
So it looks like Boehly could be Chelsea’s new owner after months of speculation, and he looks set to take over from Roman Abramovich in the near future. But how does his net worth compare to that of the Russian?
Boehly is worth £3.5billion according to Forbes, and the American has made the vast majority of his wealth through investments and also after founding his own business. Boehly is co-founder, CEO, President and controlling member of Elridge Industries – a private investment firm located in Greenwich, Connecticut.
The American is also the current CEO of the Hollywood Foreign Press Association and owns 20% of the Los Angeles Dodgers, as he seeks to add another sports team to his portfolio. Boehly is only 48, giving him plenty of years to build his capital, though he’s still quite below Abramovich’s worth.
Abramovich is currently worth £6.9billion according to Forbes, although some estimates put him higher than that. And the figure has almost certainly gone down since the Russian invasion of Ukraine. As the Russian will not receive the proceeds from the sale, due to British government sanctions, his assets have suffered a huge reduction, along with other investments.
Boehly is number 637 on the Forbes list of billionaires, but if his purchase of Chelsea gets the green light, his position is likely to skyrocket. Chelsea have been restricted in their operation since sanctions were imposed on Abramovich by the British government, but the sale is expected to see those measures lifted almost immediately.
Chelsea may be third in the Premier League, a far cry from the title fight between Manchester City and Liverpool, but they still have an FA Cup final in May. They will have the chance to avenge their previous defeat at Wembley against Liverpool, who beat them in the Carabao Cup final earlier in the year.