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BlueCo

From Wikipedia, the free encyclopedia
BlueCo
Company typeHolding company
Industry
  • Sports
  • Sports services
Founded2022
Founder
Key people
Subsidiaries

BlueCo is a consortium led by Todd Boehly, Clearlake Capital, Mark Walter, and Hansjörg Wyss.[1] The group was formed as the investment vehicle for the takeover of Premier League football club Chelsea F.C. in 2022. Its name is derived from the home colour of Chelsea, its flagship football club, and acts as the club's parent company.

History

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Founded in 2022, BlueCo is a consortium that purchased Chelsea in 2022. It is led by Todd Boehly, chairman and CEO of Eldridge Industries, and Clearlake Capital, it also included Hansjörg Wyss, founder of the Wyss Foundation, and Mark Walter, co-founder and CEO of Guggenheim Partners. Walter and Boehly are owners of the Los Angeles Dodgers, and the Los Angeles Sparks. BlueCo acquired Ligue 1 football club RC Strasbourg Alsace a year later to start multi-club ownership.[2][3]

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Location of BlueCo clubs

Owned clubs

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Chelsea F.C.

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In March 2022, former Chelsea F.C. owner, Russian businessman Roman Abramovich was sanctioned by Western governments in response to the 2022 Russian invasion of Ukraine.[4][5] As a result, the Premier League disqualified Abramovich as a club director.[6] and he was forced to put the club up for sale.[7][8]

On 7 May 2022, Chelsea confirmed that terms have been agreed for a new ownership group to acquire the club. The group which later known as BlueCo was led by Todd Boehly, chairman and CEO of Eldridge Industries, and Clearlake Capital, it also included Hansjörg Wyss, founder of the Wyss Foundation, and Mark Walter, co-founder and CEO of Guggenheim Partners. Walter and Boehly are owners of the Los Angeles Dodgers, the Los Angeles Lakers, and the Los Angeles Sparks.[1]

On 25 May 2022, the British government approved BlueCo's £4.25 billion takeover of Chelsea.[9] The transaction received all necessary approvals from the UK government, the Premier League and other authorities, and was completed on 30 May 2022.[10] After the takeover, BlueCo promised to commit £1.75 billion in further investment in the club home stadium Stamford Bridge, the academy, the women's Team, academy and women's team home stadium Kingsmeadow and Chelsea Foundation.[1]

RC Strasbourg Alsace

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On 22 June 2023, BlueCo had reached an agreement to become shareholders of French club RC Strasbourg Alsace.[2] The agreement would see BlueCo invest in Strasbourg's first teams and academy. It was reported that the consortium had close to a 100% ownership on the club having paid €75 million.[11]

References

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  1. ^ a b c "Club statement | Official Site | Chelsea Football Club". ChelseaFC. Retrieved 2022-05-07.
  2. ^ a b "Official statement: BlueCo signs agreement to become the new shareholders of Racing Club de Strasbourg Alsace – Racing Club de Strasbourg Alsace". 2023-06-22. Retrieved 2023-07-04.
  3. ^ "Chelsea owners BlueCo start multi-club ownership with Racing Strasbourg buy". Inside World Football. 2023-06-23. Retrieved 2023-07-04.
  4. ^ "Ukraine war: Roman Abramovich sanctioned by UK". BBC News. 10 March 2022. Retrieved 10 March 2022.
  5. ^ Massoudi, Arash; Hughes, Laura; Agini, Samuel (2022-03-10). "Roman Abramovich hit with sanctions by UK". Financial Times. Retrieved 2022-03-10.
  6. ^ "Abramovich disqualified as Chelsea director". BBC Sport. Retrieved 2022-03-12.
  7. ^ "Abramovich says he will sell Chelsea". BBC Sport. Retrieved 2 March 2022.
  8. ^ "Roman Abramovich confirms he is selling Chelsea – donating net proceeds to victims of war in Ukraine". The Telegraph. 2 March 2022. ISSN 0307-1235. Retrieved 2 March 2022.
  9. ^ "Chelsea takeover: Todd Boehly's £4.25bn bid approved by government as Roman Abramovich era set to end". Sky Sports. 25 May 2022.
  10. ^ "Consortium led by Todd Boehly and Clearlake Capital completes acquisition of Chelsea Football Club". Chelsea FC. 30 May 2022. Retrieved 12 July 2022.
  11. ^ "Chelsea owners agree to become shareholders of French club Strasbourg". Reuters. Retrieved 2023-07-04.
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