Monday , January 30 2023

Boehly, Wyss lead consortium to bid for Chelsea: report

A consortium led by American Todd Boehly and Swiss business tycoon Hansjoerg Wyss is expected to make a bid for Chelsea Football Club before the end of the week.

Russian Roman Abramovich said on Wednesday he would sell Chelsea, 19 years after buying the Premier League club, amid calls in Britain for sanctions against him following Russian military operations in Ukraine.

The decision offered a rare chance to purchase a top Premier League club and prompted widespread speculation over who might step in.

Chelsea FC tapped Joe Ravitch, the co-founder of investment bank Raine Group LLC, to find a buyer after Abramovich decided this week to put the football club he has owned for 19 years up for sale. The move follows Russia’s attack on Ukraine that has triggered an international backlash against businessmen with close ties to Russian President Vladimir Putin.

Boehly and Wyss are working with at least one other partner, the Telegraph said, adding that although there were other prospective bidders, Boehly and Wyss may have an advantage with finance for the deal secured.

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