I mean yes that is the private equity firm he teamed up with to buy Chelsea. Well, them and Mark Walter (the head of Guggenheim Partners, who he co-owns the Dodgers with) and a Swiss billionaire Hansjorg Wyss.
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Enzo Fernandez
- Thread starter itisrising
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I mean yes that is the private equity firm he teamed up with to buy Chelsea. Well, them and Mark Walter (the head of Guggenheim Partners, who he co-owns the Dodgers with) and a Swiss billionaire Hansjorg Wyss.
richards30
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I mean yes that is the private equity firm he teamed up with to buy Chelsea. Well, them and Mark Walter (the head of Guggenheim Partners, who he co-owns the Dodgers with) and a Swiss billionaire Hansjorg Wyss.
So Clearlake are the money in a sense with a guarantee of any issues from the other guys? So really boley etc have put no actual cash in but used an equity firm for all the money guaranteed by others?
So Clearlake are the money in a sense with a guarantee of any issues from the other guys? So really boley etc have put no actual cash in but used an equity firm for all the money guaranteed by others?
Yeah kinda. It was kind of a complicated sale, but Abramovich, as a parting gift of sort, got them to commit to investing nearly £2b over the next 10 years - on the playing staff, infrastructure (so expect stadium upgrades in the next couple of years) etc. There was also an anti-Glazer clause inserted that prevents these owners from taking money out of the club in dividends and such. All of this was just what was reported in the news. I'm sure there are a million other clauses and commitments we have zero awareness of.
I don't think Boehly personally put any significant money in, if at all. Clearlake are very clearly the main source of the funds that purchased the club and are funding all operations at the club.
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richards30
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Yeah kinda. It was kind of a complicated sale, but Abramovich, as a parting gift of sort, got them to commit to investing nearly £2b over the next 10 years - on the playing staff, infrastructure (so expect stadium upgrades in the next couple of years) etc. There was also an anti-Glazer clause inserted that prevents these owners from taking money out of the club in dividends and such. All of this was just what was reported in the news. I'm there are a million other clauses and commitments we have zero awareness of.
I don't think Boehly personally put any significant money in, if at all. Clearlake are very clearly the main source of the funds that purchased the club and are funding all operations at the club.
Nice for Todd running around splashing cash then! Lol
Nice for Todd running around splashing cash then! Lol
Yeah but to be fair he's running the club alongside a Clearlake guy Behdad Eghbali. It's not like they've given Boehly (also a multi billionaire himself) all the money and the keys to the kingdom to do as he pleases. Eghbali is, at least for now, present running the day to day stuff with Boehly, at least while they're building up the structure again. One of the big recruitments was Christopher Vivell as the sporting director. It was supposedly Vivell and his team who pivoted away from chasing Declan Rice to focusing on landing Enzo Fernandez.
richards30
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Yeah kinda. It was kind of a complicated sale, but Abramovich, as a parting gift of sort, got them to commit to investing nearly £2b over the next 10 years - on the playing staff, infrastructure (so expect stadium upgrades in the next couple of years) etc. There was also an anti-Glazer clause inserted that prevents these owners from taking money out of the club in dividends and such. All of this was just what was reported in the news. I'm there are a million other clauses and commitments we have zero awareness of.
I don't think Boehly personally put any significant money in, if at all. Clearlake are very clearly the main source of the funds that purchased the club and are funding all operations at the club.
Nice for Todd running around splashing cash then
Yeah but to be fair he's running the club alongside a Clearlake guy Behdad Eghbali. It's not like they've given Boehly (also a multi billionaire himself) all the money and the keys to the kingdom to do as he pleases. Eghbali is, at least for now, present running the day to day stuff with Boehly, at least while they're building up the structure again. One of the big recruitments was Christopher Vivell as the sporting director. It was supposedly Vivell and his team who pivoted away from chasing Declan Rice to focusing on landing Enzo Fernandez.
Boehly is worth £3bn total in assets etc so at the level the Chelsea deal was and the pace they are spending at plus the commitment to the stadium revamp etc he has nothing!
Nice for Todd running around splashing cash then
Boehly is worth £3bn total in assets etc so at the level the Chelsea deal was and the pace they are spending at plus the commitment to the stadium revamp etc he has nothing!
Oh for sure, that's not in doubt. It isn't him spending his own fortune to pay Benfica £105m for Enzo Fernandez.
Up to November their 3.5b purchase price had been frozen in a U.K. bank account whilst it’s agreed what to do with the funds, no money had been paid to any charities at that point. Chelsea have borrowed a further 800m (500m up front and 300m in a revolving credit agreement) for squad investment this time at a commercial rate, with interest rates increasing rapidly the fee’s could be eye watering.I mean yes that is the private equity firm he teamed up with to buy Chelsea. Well, them and Mark Walter (the head of Guggenheim Partners, who he co-owns the Dodgers with) and a Swiss billionaire Hansjorg Wyss.
Up to November their 3.5b purchase price had been frozen in a U.K. bank account whilst it’s agreed what to do with the funds, no money had been paid to any charities at that point. Chelsea have borrowed a further 800m (500m up front and 300m in a revolving credit agreement) for squad investment this time at a commercial rate, with interest rates increasing rapidly the fee’s could be eye watering.
The purchase has nothing to do with Chelsea anymore though, no? That is a fight between Abramovich and the UK government.
I don't claim to know to the ins and outs of how the club finances work, so I don't know if the borrowing bit you mentioned is good or bad.
richards30
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Up to November their 3.5b purchase price had been frozen in a U.K. bank account whilst it’s agreed what to do with the funds, no money had been paid to any charities at that point. Chelsea have borrowed a further 800m (500m up front and 300m in a revolving credit agreement) for squad investment this time at a commercial rate, with interest rates increasing rapidly the fee’s could be eye watering.
Better put than me mate! lol Also shows the sheer risk involved in the manic spending