Sports

American billionaire, Todd Boehly, agrees deal to buy Chelsea Football Club for £2.5bn

Published

3 years ago

May 7, 2022

English Premier League club, Chelsea, on Friday, confirmed that the club has agreed terms with a consortium led by American billionaire Todd Boehly, to takeover from embattled Russian oligarch, Roman Abramovich, for a fee in the region of £2.5 billion.

A statement on the club’s website confirming the agreement, said complete takeover of the club by the Boehly consortium Is expected to be completed by the end of May “subject to all necessary regulatory approvals” by the UK government.

“Chelsea Football Club can confirm that terms have been agreed for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss, to acquire the Club,” the statement said.

“Of the total investment being made, £2.5bn will be applied to purchase the shares in the Club and such proceeds will be deposited into a frozen UK bank account with the intention to donate 100% to charitable causes as confirmed by Roman Abramovich.

“UK Government approval will be required for the proceeds to be transferred from the frozen UK bank account.

“In addition, the proposed new owners will commit £1.75bn in further investment for the benefit of the Club. This includes investments in Stamford Bridge, the Academy, the Women’s Team and Kingsmeadow and continued funding for the Chelsea Foundation.

“The sale is expected to be completed in late May subject to all necessary regulatory approvals. More details will be provided at that time.”

The American businessman, investor, and philanthropist who is the co-founder, Chairman and Chief Executive Officer of Eldridge Industries, a holding company based in Greenwich, Connecticut, USA, also owns stakes in the MLB’s Los Angeles Dodgers, the NBA’s Los Angeles Lakers and the WNBA’s Los Angeles Sparks.

The club’s embattled current owner Abramovich, who is subject to sanctions by the British government and has seen his assets frozen by the government, had put the club up for sale in early March following the Russian invasion of Ukraine, saying at the time it was “in the best interest of the Club.”

The announcement of the Boehly deal comes with just over three weeks remaining on the club’s current operating licence, which expires on May 31.

Among those who had previously expressed interest in buying the club included British billionaire Jim Ratcliffe and groups led by Boston Celtics co-owner Stephen Pagliuca and former British Airways chairman Martin Broughton, and a consortium led by Chicago Cubs owners the Rickets family.

Boehly’s interest in the current European champions is not new; in 2019, he had made a £2.2b bid to buy the Blues from Abramovich, an offer that was swiftly rejected.

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Sports

FIFA Ranking: Nigeria ends 2024 as fifth best team in Africa

Published

20 hours ago

December 20, 2024

Isaac Dachen

Nigeria’s men’s football national team, the Super Eagles, ended the year 2024 as the fifth best team in Africa in the latest FIFA world ranking for the month of December.

According to the rankings published by the world football governing body, Nigeria remains unchanged from its previous position, despite having a challenging international break.

The FIFA rankings also reveal that Nigeria suffered a significant decline this year, dropping eight places to end 2024 ranked 44th globally.

The decline follows disappointing performances during the final AFCON qualifiers for 2025, where the Super Eagles struggled against the Benin Republic and Rwanda, resulting in a lack of wins.

However, some of the Super Eagles bitter rivals like South Africa’s Bafana Bafana experienced a resurgence, climbing three positions to finish the year ranked 57th in the world, showing a marked improvement in their recent form and successful matches during the qualifiers.

It was a woeful year for West African rivals Ghana who ended the year in 77th position, which highlights the challenges the Black Stars have encountered in the outgoing year in its bid to maintain its positions among Africa’s elite teams.

Meanwhile, the Moroccan national football team, the Atlas Lion, retained its 14th position in the in the world while still maintaining its number one spot in Africa, holding the first position for the third year in a row.

In the world ranking, Morocco is followed by Senegal on 17th position, Egypt, 33rd, Algeria 37th, Nigeria, 44th, Côte d’Ivoire, 46th, Cameroon, 49th, Mali, 51st, and Tunisia in the 52nd position.

Top 10 African teams in 2024

1. Morocco – (14th)

2. Senegal – (17th)

3. Egypt – (33rd)

4. Algeria – (37th)

5. Nigeria – (44th)

6. Côte d’Ivoire – (46th)

7. Cameroon – (49th)

8. Mali – (51st )

9. Tunisia – (52nd)

10. South Africa – (57th)

Sports

Nigeria’s Lookman, Zambia’s Banda big winners at 2024 CAF Award

Published

4 days ago

December 17, 2024

Isaac Dachen

Nigerian sensation, Ademola Lookman, has wrapped his footballing year with another win after being declared as the Men’s Footballer of the Year by the Confederation of African Football (CAF).

Lookman, who plays for Italian club side Atalanta, was the biggest winner at the star-studded 2024 CAF Awards in Marrakech following 12 months with Italian side Atalanta and the Nigerian Super Eagles. He follows in the footsteps of compatriot Victor Osimhen, who claimed the award in 2023.

This is the first time Nigeria has had consecutive men’s award winners since nearly thirty years, when Nwankwo Kanu (1996) and Victor Ikpeba (1997) were awarded.

Other top African achievers recognized for their exploits during the event include South Africa’s Ronwen Williams and Zambia’s Barbra Banda. Banda was instrumental in leading Orlando Pride to the NWSL Shield and Championship in the 2024 National Women’s Soccer League season in the United States. She scored the game-winning goal in the final against Washington Spirit.

Other winners include Nigeria’s Chiamaka Nnadozie, who won Women’s Goalkeeper of the Year award for the second year in a row after another impressive season for French side Paris FC.

Sanaâ Mssoudy, a forward for AS FAR and Morocco, received the Women’s Interclub Player of the Year award after winning the 2024 CAF Women’s Champions League Best Player title. Agile box-to-box midfielder, Lamine Camara of Senegal and Monaco, won the Men’s Young Player of the Year award for his outstanding performances for both club and country.

Doha El Madani, a 19-year-old Moroccan and AS FAR player, won the Women’s Young Player of the Year award after scoring six goals in five games to win the Golden Boot at the 2024 CAF Women’s Champions League.

See the full winners list below:

2024 CAF AWARDS WINNERS

CAF PLAYER OF THE YEAR (MEN)
Ademola Lookman (Nigeria / Atalanta)

CAF PLAYER OF THE YEAR (WOMEN)
Barbra Banda (Zambia / Orlando Pride)

CAF GOALKEEPER OF THE YEAR (MEN)
Ronwen Williams (South Africa / Mamelodi Sundowns)

CAF GOALKEEPER OF THE YEAR (WOMEN)
Chiamaka Nnadozie (Nigeria / Paris FC)

CAF INTERCLUB PLAYER OF THE YEAR (MEN)
Ronwen Williams (South Africa / Mamelodi Sundowns)

CAF INTERCLUB PLAYER OF THE YEAR (WOMEN)
Sanaâ Mssoudy (Morocco / AS FAR)

CAF YOUNG PLAYER OF THE YEAR (MEN)
Lamine Camara (Senegal / AS Monaco)

CAF YOUNG PLAYER OF THE YEAR (WOMEN)
Doha El Madani (Morocco / AS FAR)

CAF COACH OF THE YEAR (MEN)
Emerse Fae (Cote d’Ivoire)

CAF COACH OF THE YEAR (WOMEN)
Lamia Boumehdi (TP Mazembe)