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Chelsea raise $500m from new US investor as multi-club model targeted

Premier League club Chelsea appears to be shifting its focus from football to finances following its acquisition by Clearlake Capital, fronted by US investor Todd Boehly, for £4.25 billion. The club has now secured an additional $500 million in funding from US investor Ares Management.Information Guide Nigeria

This development coincides with reports of potential austerity measures at Chelsea, with an anticipated £80 million cut in the playing budget after the club’s near £1 billion spending spree during the summer transfer window.JAMB Result

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The newly acquired funds are not earmarked for player acquisitions but are intended for the development of Chelsea’s commercial infrastructure, primarily focused on a new stadium. Roman Abramovich had previously abandoned plans to renovate Stamford Bridge due to soaring potential costs exceeding £1.5 billion.

To reduce wage costs and recoup some of their spending, Chelsea is expected to offload as many as 13 players from their current squad. However, given the club’s significant expenditures during the last transfer window, it may be challenging to find buyers for underperforming players at favorable prices.

Clearlake co-founder Jose Feliciano, who also serves as a Chelsea board member, mentioned a period of austerity for the club but appeared to hedge his remarks by emphasizing the importance of winning. He stated that aligning with the supporter base was crucial for increasing the club’s value, citing the talent within the team.

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The acquisition of funds from Ares Management holds significance as the firm has more financial resources than Clearlake, managing over $35 billion in its private equity division. Ares, based in Los Angeles like Boehly and Clearlake, has raised $3.7 billion for investments in sports teams, leagues, and franchises, including investments in Lionel Messi’s MLS team, Inter Miami.NYSC Portal

Ares also holds a 33.96% stake in Atletico Madrid’s holding company and was involved in John Textor’s Eagle Football takeover of Ligue 1’s Olympique Lyonnais.JAMB Portal

Chelsea’s holding company, BlueCo, is adopting a multi-ownership club model, and it has previously pursued opportunities to acquire stakes in other football clubs, including Portimonense and Strasbourg.

While diversifying into additional clubs may benefit Chelsea’s player trading and development business, it remains to be seen if these financial moves will translate into success on the Premier League pitch. Under Abramovich, Chelsea quickly rose to prominence through substantial financial investment, but the American owners are encountering the complexities and challenges of football management, which extend beyond financial calculations.

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Emediong Silver

Emediong Ekpe is a graduate of English. A professional Sports journalist/analyst, and a spoken word artist. He is passionate about decimating information and putting smiles on people's faces via news writing. Whatapp: 08088735884

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