Kieran Maguire: Chelsea 'mean business' this summer as £100m outlay confirmed
Todd Boehly has pumped £100million into Chelsea in the form of a share purchase to show that the club “means business” in the transfer market.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the new ownership group’s ambitions this summer.
Boehly purchased Chelsea in a deal worth £4.25billion last month (30 May) following months of turbulence surrounding Vladimir Putin-linked former owner Roman Abramovich.
A Companies House update on Tuesday (7 June) shows that the new regime have now allotted £100m worth of new shares.
Maguire explained that the equity increase is likely to be used for recruitment as Boehly looks to win over supporters.
“Roman Abramovich has been underwriting Chelsea’s losses in recent years and he has been a very benevolent owner,” he told Football Insider.
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“There is no doubt that the Todd Boehly group have a long-term goal of making Chelsea a far more sustainable football club. But in the short term, money will be required in the form of working capital and to show that they mean business.
“If they have a modest summer transfer window, there will be question marks raised from fan groups and the media as to their long-term intentions to make Chelsea a competitive team.
“You’ve got to remember that Chelsea generate £30m to £40m less from matchday ticket sales than the likes of Man United and Spurs because of the albatross that is Stanford Bridge in terms of its relatively low capacity.”