Connect with us


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



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.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Former Kenyan Olympic champion Wilfred Bungei gives reasons for joining politics



Former Kenyan 800m Olympic champion turned politician, Wilfred Bungei, has explained the reason behind his decision to transit into the murky world of politics.

In an interview on the Safari za Mabingwa show hosted by Oga Obinna, Bungei recounted an embarrasing encounter that left him with no choice but to contest politics.

The former Olympic champion who ran in the Emgwen Parliamentary in 2017 but failed to win the seat, recounted the embarrassing incident that made him venture into politics.

Bungei, however, said he was not affected by the loss since he was not in the running for the money but rather, to help his community.

He went on to narrate how he booked an appointment with a top Managing Director in the country but never had a chance to sit down with him because shortly after he arrived at the destination, two MP’s walked into the office before him, but after waiting three hours, the meeting had to be canceled.

Bungei said he was frustrated and concluded that the only way to help his people was by joining politics because there, doors would be easier to access and open.

“I was going to see a certain MD, and I won’t mention his name, a very senior person and he asked me to see him at 6:30 in the morning as he had requested. You know these guys, you need to see them earlier before the office hours.

“After 20 minutes, I was told to be patient and then some MPs walked in and they just stayed in that office until 9:00.

“This was around 2014. After that, the guy walked out and said, ‘Wilfred I’m really sorry, hawa wanaume wameniweka (These guys have engaged me for long).’

“I realised that MPs are the only people who will have all doors opened for them and I said that the only way to help my people was only to be an MP. It wasn’t for money or fame because I spent almost Ksh 100 million,’’ he said.

The 43-year-old Bungei added that he never wanted fame when he decided to venture into the dirty game because deep down, he knew he still wanted to do something for his people back in the village and he thought politics was the way to go.

He added that during his time as a runner, he had so many people who would come to seek help from him and he believed by being the area MP, he would be able to help everyone.

“When I ran for politics, most people thought that I wanted money or fame but I believe that I had made a name that was bigger than going for a seat as an MP.

“I ran for office because I felt that I still had something that I could be able to do for my society. The only way that I knew I could be there for them is by representing them.

“When I was in athletics and people knew that I had money, they would come and ask for help from me and I realised that the only platform I could be able to help people would be through politics.

“We regard politicians so high in this country compared to professionals and this is where I have a problem and many times I would go to an office to seek something and I would be told, ‘Wilfred we know you and we shall see what to do.’,” he said.

Continue Reading


Osimhen in big trouble following outburst against Eagles coach Finidi George



Super Eagles and Napoli striker, Victor Osimhen, has found himself in big trouble with Nigerian football fans following his outburst in which he attacked the national team coach, Finidi George.

Osimhen had, in an Instagram live video on Saturday, attacked George shortly before the coach tendered his resignation and stepped down as Super Eagles head coach.

The controversy erupted was ignited following comments made by George regarding Osimhen’s recent performances and attitude on and off the pitch.

George, an ex-Eagles winger who had illustrious career with the national team where he won the 1994 Nations Cup and played at two world cups, had criticized Osimhen’s work ethic and commitment, suggesting that the young striker needed to improve his professionalism.

The former Ajax and Real Betis player who was appointed in May, had come in for severe attacks after he led the Eagles to two uninspiring 2026 FIFA World Cup qualifying matches, drawing 1-1 with South Africa in Uyo and losing 2-1 to Benin Republic.

In his frustration, George, in a statement, blamed some players including Osimhen for the team’s poor performances.

Angered by the criticism, Osimhen, went on a tirade, calling out the gaffer and ended up saying he has lost any respect he had for George.

“I have lost every respect I have for him,” the angry forward said in the Instagram live video.

“It’s disheartening to hear such comments from someone I once looked up to,” he continued.

“I have always given my best for the Super Eagles and my club. To be criticized in this manner by Finidi George, someone who should understand the pressures and challenges we face, is very hurtful. I have lost every respect I had for him.

“I am focused on my development and helping my teams achieve success. What we need is encouragement and constructive feedback, not public denigration from those who have walked this path before us,” he stated in anger.

However, the outburst did not sit well with fans of the Super Eagles with many Nigerians calling for his ban from the team.

A former Super Eagles goalkeeper, Idah Peterside, who took exception to Osimhen’s attitude, described the tantrum as irresponsible and called for his expulsion from the national team.

According to Peterside, the Nigeria Football Federation (NFF), should take action to curb similar actions in the future.

“I think action should be taken, or he (Osimhen)
should be banned from playing for the national team,” Peterside wrote on social media.

“If we allow this kind of thing to continue, it would not augur well for Nigeria. The men who have served and given everything to our great country. So sanity must be brought to our football.”

Peterside also called on Osimhen to apologize to George for his actions.

“Osimhen needs to come outside and apologize for the things he said to Finidi, Peterside said on social media.

“Finidi George is a legend, You don’t just widen your mouth and say things that are unpalatable. If you have issues with the man, pick up your phone and call him. That’s what responsible people do.

“Osimhen has just shown a bit of irresponsibility, and that’s unexpected. I think the NFF should call Osimhen and ask him to apologize. He has to apologize for saying things.”

“Our national team is sacred; days when we wore the jersey, we respected it, and people that went before us. He’s not the first, and neither would he be the last. He should come out openly and apologize openly to former footballers, NFF, Finidi, and Nigerians,” former goalkeeper stated.

Continue Reading


Metro8 hours ago

‘Stop complaining, you’re not the only ones facing poverty,’ Tinubu tells Nigerians

President Bola Tinubu has told Nigerians to stop complaining as they are not the only ones facing poverty and hardship...

Musings From Abroad19 hours ago

France to withdraw forces from West and Central Africa

According to three sources quoted by AFP, France intends to scale back its military deployment in West and Central Africa...

Politics20 hours ago

5 parties now part of South Africa’s unity government— ANC

South Africa’s ruling party, the African National Congress (ANC), has announced that negotiations with other parties are still underway as...

Behind the News20 hours ago

Behind the News: All the backstories to our major news this week

Over the past week, there have been many important stories from around the African continent, and we have served you...

Video20 hours ago

Video: Nigerian Afrobeats star Adekunle Gold tells sickle cell story

In this interview, Kenyan journalist, Larry Madowo, speaks to Nigerian singer, Adekunle Gold, on living with sickle cell disease and...

VenturesNow20 hours ago

Nigeria’s Dangote Sugar Refinery issues commercial papers worth N42.79 billion at rates of 25%, 23%

Nigeria’s Dangote Sugar Refinery has declared the issuance of its N42.79 billion Series 4 and 5 commercial papers, offered at...

Metro22 hours ago

Zambian Police bar political party leaders from attending church services

The political crisis in Zambia took a new disturbing dimension on Sunday when heavily armed Police Officers stopped Presidents of...

Culture23 hours ago

Rema’s ‘Calm Down’ breaks US record with one billion streams

Nigerian Afrobeats sensation, Divine Ikubor, popularly known as Rema, has broken another music record after his hit song, “Calm Down”,...

Sports23 hours ago

Former Kenyan Olympic champion Wilfred Bungei gives reasons for joining politics

Former Kenyan 800m Olympic champion turned politician, Wilfred Bungei, has explained the reason behind his decision to transit into the...

Tech23 hours ago

Airtel Africa activates subsea cable connecting Kenya, Tanzania, South Africa

Airtel Africa has announced the successful activation of the 2Africa submarine cable system that will connect Kenya, Tanzania, and South...