Under the management of Todd Boehly’s consortium, football finance expert Kieran Maguire believes Chelsea will take a fresh strategy in the transfer market, one that might attempt to duplicate the concepts introduced by Fenway Sports Group (FSG) at Liverpool following the Reds’ recent success.
The Blues have revealed that arrangements for a new ownership group have been finalised, with Boehly’s consortium ready to take over the club. “Chelsea Football Club can confirm that arrangements have been reached for a new ownership group, led by Todd Boehly, Clearlake Capital, Mark Walter, and Hansjoerg Wyss, to buy the Club,” read a statement on the club’s website.
“Of the overall investment, £2.5 billion will be used to buy the Club’s shares, with the revenues going into a frozen UK bank account with the goal of donating 100% to philanthropic organizations, as stated by Roman Abramovich.” The funds will need to be moved from the blocked UK bank account with the consent of the UK government. In addition, the prospective new owners would spend an additional £1.75 billion in the Club’s benefit. This includes money for the Chelsea Foundation as well as improvements at Stamford Bridge, the Academy, the Women’s Team, and Kingsmeadow. The transaction is scheduled to close in late May, pending all regulatory clearances. At that time, more information will be supplied.”
As the club prepares to part ways with Abramovich, his approach to spending is likely to fade away as well. According to Maguire, Boehly’s group is expected to use a fresh transfer market strategy.
“Roman Abramovich’s mentality was ‘if I sign a guy and it doesn’t work, then we just go and sign another player or we replace the manager,” Maguire remarked on Sky Sports. I believe the Boehly group will take a more data-driven, methodical, and money-ball approach.
“They’ve seen what FSG has done at Liverpool.” Liverpool has spent half a billion pounds less in the player market over the previous nine years than Chelsea, Manchester United, and Manchester City, and we’re sitting here this morning with Liverpool on the verge of a quadruple. As a result, I believe we will see a more cautious attitude to spending. Less huge sums, more investment in younger players who Chelsea may be able to move on from at a later point, and a strategic shift in terms of player recruiting and retention.”
It will be intriguing to watch what happens in the market in the future, but Chelsea supporters will be relieved to learn that the takeover is nearly complete, and that their team will be able to compete for many years to come.