Here is why the owner of Chelsea purchased the majority of Strasbourg FC Ligue 1 shares
A little over a year after taking over the English Premier League club from Roman Abramovich, Chelsea’s owners purchased the bulk of the shares in French Ligue 1 team Strasbourg.
Strasbourg FC Ligue 1 team bought by Chelsea owner Todd Boehly, deal cost, ownership structure, net worth
Todd Boehly, an American, is the head of BlueCo, the investor group that paid £4.25 billion ($5.4 billion) for Chelsea in May 2022. According to The Guardian, BlueCo spent about €75 million ($82 million) for a share in the club that is close to 100 percent.
Strasbourg president Marc Keller said:
This is an important day for Racing.”
He further said:
It’s something my shareholder friends and I have been thinking about for the past two years.”
By contributing funds that will enable investments in the men’s and women’s first teams, the academy, and other areas of the club, the consortium intends to support Keller’s plans.
Why did Chelsea buy ?
🚨 After acquiring the stake in Strasbourg, the next target for Todd Boehly and Chelsea in the multi-club model is Rio Ave F.C. in Portugal.#CFC
(@sachatavolieri) pic.twitter.com/Hhnd1QONYl
— Chelsea Dodgers (@TheBlueDodger) June 22, 2023
#Chelsea will become the latest Premier League side to head a multi-club model after a deal was struck for Todd Boehly and Clearlake Capital to buy a significant stake in Ligue 1 outfit Strasbourg.
(@MirrorFootball) pic.twitter.com/WbT8x1NZJS
— Chels HQ (@Chels_HQ) June 22, 2023
Shareholders of BlueCo stated that they are “committed to preserving the heritage of Racing (Strasbourg),” but they also want to work with Chelsea to strengthen the Ligue 1 team’s reputation.
This strategic investment would further our presence in European football, alongside our ownership of Chelsea. We believe it would create huge opportunities to share knowledge and expertise.”
Since he took over the Blues in London, Boehly has argued that a multi-club model is a good way for young players to gain experience. Over the previous 12 months, Chelsea has signed young players including David Datro Fofana, Andrey Santos, Gabriel Slonina, and Cesare Casadei. Boehly has prioritised their youth initiative, which Strasbourg’s acquisition will now be able to fund.
How much did Chelsea pay for Strasbourg?
The club needed to make this investment, according to Racing Strasbourg, in order to advance to the next stage of growth. They said that they were conscious that they had reached the limit thier model and that, in order to continue advancing Racing and bringing it into a new dimension, they would need to be supported by a strong framework that could accommodate their growth and aspirations.
It has been claimed that Chelsea paid £65 million ($82.6 million) bought full ownership the French club, even if the precise amount of the stock is unknown. Majority ownership was a key issue for Chelsea during negotiations.
How many clubs does Chelsea own?
Boehly has been preparing to debut his multi-club idea since the summer of 2022. He initially made an effort to negotiate with French club Bordeaux, but the president proved to be a challenging adversary. In France, Chelsea also got in touch with Lyon and Sochaux, but the Blues refused to accept partial ownership.
Strasbourg was Chelsea’s first football team to be owned. They also reportedly have an interest in buying stake in Portimonense, a Portuguese team that finished one spot above the relegation zone in Portugal’s first flight.
Boehly is a co-owner of the MLB team Los Angeles Dodgers outside of sports. He also has shares in the NBA and WNBA teams Sparks and Lakers, both of Los Angeles.
Who are Chelsea owners?
Boehly, 49, is the owner of Chelsea in the public eye, although BlueCo also includes other businessmen. Boehly collaborates with the Los Angeles Dodgers co-owner Mark Walter, the financial firm Clearlake Capital, and the billionaire Swiss businessman Hansjorg Wyss.
Boehly’s net worth is reportedly about $4.5 billion (£3.5 billion), according to Forbes. While it has been asserted that they merely have a good working relationship, many have questioned whether Saudi Arbia PIF owns Clearlake Capital.