Kieran Maguire shocked by £400m Chelsea twist – ‘very surprising’
It is ‘very surprising’ that Chelsea owner Todd Boehly has decided to search for new investors just over a year after his takeover of the club.
That is the opinion of finance expert Kieran Maguire, who exclusively told Football Insider that management at Stamford Bridge underestimated the financial impact of their ‘radical’ player recruitment.
Chelsea spent over £600million in Boehly’s first two transfer windows, and spending has not slowed down this summer as the London club looks to improve on their underwhelming 2022/23 campaign.
As reported by Bloomberg, Chelsea’s ownership is now searching for new investors and could raise as much as £395million.
Football Insider revealed on Friday (4 August) that Chelsea plan to begin their redevelopment of Stamford Bridge once fresh investment is secured.
Maguire was surprised by Boehly’s decision to look for new investment just a year after his £2.5bn takeover.
“Chelsea have burned through an awful lot of cash in a very short period of time under Todd Boehly,” Maguire told Football Insider’s Sean Fisher.
“It is a little bit surprising that they are now reaching out to investors for further funds given that the club cost the consortium £2.5bn just over a year ago.
“The management may have underestimated just how radically they planned to change player recruitment.
“This has probably affected the cash flow to a greater extent than originally anticipated.
“Having said that, Roman Abramovich was often putting money into Chelsea as owner, and the club cost him well over £1.5bn
“This is a very surprising step by Chelsea, unless the money is being put in for a big infrastructure project.“
In other news, Chelsea on track to bank £5m payout after US deal agreed