Who is Todd Boehly? Net worth of Chelsea’s new owner, what is his Consortium, and what happened to Abramovich

The American, who owns part of the LA Dodgers, has completed h purchase Chelsea Football Club.

After weeks of speculation about the future owner of Chelsea Football Club, American billionaire Todd Boehly has replaced Roman Abramovich.

Abramovich, who purchased the West London club back in 2003, has been looking to sell the club since he was sanctioned in the wake of the Russian invasion of Ukraine.

But, after weeks of a deal reportedla consortium led by Boehly has taken a step closer to purchasing the club, so who is he and what is his net worth?

Todd Boehly (C), Prospective buyer of Chelsea FC celebrates a goal which was later disallowed during the Premier League match between Chelsea and Wolverhampton Wanderers at Stamford Bridge on 7 May, 2022.

Who is Todd Boehly?

Todd Boehly is an American businessman, investor, and philanthropist.

He is the co-founder, chairman, CEO and controlling member of Eldridge Industries, which is a holding company, with their headquarters located in Greenwich, Connecticut.

Amongst his education is a spell at the London School of Economics. Boehly has three children.

The 46-year-old has experience when it comes to owning sports franchises, and currently owns 20% of the American Baseball team, the Los Angeles Dodgers and is also a part owner of the Los Angeles Sparks.

After previously having had a bid rejected for Chelsea, Boehly went back in and bid again, with the second bid more successful, and is now on the brink of ownership.

What is the net worth of Todd Boehly?

According to Forbes, Boehly has a net worth of around $4.5 billion, thanks to various high profile positions and shrewd investments.

Why was Roman Abramovich sanctioned?

Abramovich was sanctioned by the UK government because of his close financial ties to Russian President, Vladimir Putin.

In the past, it was speculated that the two were associates, and in 2012, a high court judge stated that Abramovich had “privileged access” to Putin and “very good relations” with the leader.

Will Abramovich profit from the deal?

When an owner sells a sports team the size of Chelsea’s magnitude, it is usually for a great profit.

However, these are special circumstances, and it looks unlikely that the Russian will pocket much money from the sale.

Upon the announcement he would be selling the club, it was stated that any net proceeds from the sale would be given to a charitable foundation, of those affected by the current situation in Ukraine.

There were rumours that he wanted a £1.5 billion loan to be paid back, which could threaten to end any potential sale, however those reports were deemed as false.

A spokesman for Abramovich stated that “Firstly, Mr Abramovich’s intentions in relation to gifting the proceeds for the Chelsea sale to charity have not changed.

"Since the initial announcement, Mr Abramovich’s team has identified senior representatives from UN bodies and large global charitable organisations who have been tasked with forming a Foundation and setting out a plan for its activities.”

When did Abramovich purchase the club?

Roman Abramovich purchased Chelsea 19 years ago in 2003, and purchased it off of Ken Bates for £140 million, who himself purchased the club in 1982.

Bates paid just £1 for the club, but inherited debts of up to £1.5 million.

What did Abramovich achieve at Chelsea?

The season prior to his ownership, Chelsea had a team of good players, including Gianfranco Zola, and had just qualified for the UEFA Champions League, so were by no means a bad club.

The club was managed by Claudio Ranieri, and although qualifying for the most elite club competition in Europe, they finished the season trophyless.

Chelsea’s first transfer window under the ownership saw them spend big. They purchased Hernan Crespo (£23 million), Damien Duff (£22 million), Juan Sebastian Veron (£19 million), Claude Makelele (£18 million) and more.

Their total spending in that first window totalled £153 million.

They finished second that season, and Abramovich sacked Ranieri after finishing second, replacing him with Jose Mourinho who won two titles in a row in his first two seasons.

In total, since Abramovich purchased Chelsea, incoming transfers to the club have totalled around £2.1 billion on almost 500 players, according to Transfermarkt.com.

In that time, Chelsea have won the Champions League (x2), Premier League (x5), League Cup (x3), Community Shield (x2), FA Cup (x5), Europa League (x2), one UEFA Super Cup and one FIFA Club World Cup.

No other club in the country has won more than Chelsea since Abramovich took charge of the club.