‘Chelsea’s Todd Boehly clear to make major purchase after Man City owners blocked’
Chelsea co-owner Todd Boehly is unlikely to meet resistance from the government or the Premier League as he looks to make a major purchase.
The American Billionaire has overseen a huge period of upheaval since taking over the club with a consortium led by himself and investment firm Clearlake Capital.
However, Chelsea could be set to see another change in ownership soon, with Boehly and Behdad Eghbali (co-founder of Clearlake Capital) currently failing to agree on the club’s plans for the future of Stamford Bridge.
In spite of the fractured relationship in the Blues’ boardroom, this has not stopped the American co-owner’s interest in expanding his portfolio of British-based businesses, as Boehly is looking to push ahead with his purchase of The Telegraph newspaper, The Times reports.
Todd Boehly looks to purchase The Telegraph after Man City owner Sheikh Mansour deal collapses
Sheikh Mansour, vice-president of the United Arab Emirates (UAE) and owner of Man City, had agreed a deal through the investment firm Redbird to buy The Telegraph, but the purchase collapsed after it was blocked by the British government.
Legislation was put in place to ban foreign states from owning UK newspapers and news magazines [BBC News].
As a consequence, the newspaper has been put back up for sale, and Boehly, alongside National World chairman David Montgomery, is now looking to press ahead with his attempts to purchase the paper.
Rupert Murdoch was blocked in his attempt to buy Man United in 1999, with the government citing his ownership of BskyB (now Sky) as a concern due to competition issues and the potential for undue media influence over the club.
| Chelsea ownership | Percentage of club |
| Clearlake Capital | 61.6% |
| Todd Boehly | 12.8% |
| Mark Walter | 12.8% |
| Hansjorg Wyss | 12.8% |
However, there is nothing in the Premier League rules that prevents a club owner from buying a non-rights-holding newspaper, and the government is not expected to block Boehly’s efforts in purchasing The Telegraph.
Whilst the American is interested, a deal is far from being completed, with the Abu Dhabi fund looking for offers in excess of £500million since being forced to put the paper back on the market.
Boehly and Montgomery were reportedly looking to pay less than what had already been invested in the newspaper group by the present owners.
Chelsea considering plans to leave Stamford Bridge
Football Insider Verdict
Boehly rarely seems to be far from the headlines since his arrival at Chelsea, with the Telegraph purchase attempt far from the only major move he has to decide on.
Ex-Everton CEO Keith Wyness told Football Insider exclusively that Chelsea’s plans for a new stadium are a big issue, with options in West London limited.
The Blue’s are mulling over either expanding Stamford Bridge, or leaving their current home in favour of building a new ground likely in Earl’s Court.
However, building a new stadium in the targeted are would present major financial issues, with Earl’s Court one of the UK’s most expensive boroughs.
What’s more, Chelsea are reportedly facing competition from Earl’s Court Development Company (ECDC), who are interested in the same plot of land as the Blues, according to The Guardian.
Newcastle United, Manchester United, Manchester City, Tottenham, Liverpool, and Everton have all made moves to increase capacity in recent months and years, and Chelsea are at risk of falling behind their rivals in terms of matchday revenue if they fail to make a change.