American billionaire submit massive bid to buy Chelsea

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American billionaire Todd Boehly has submitted a massive bid to buy Chelsea, according to Financial Times via Daily Mail. The specific amount of the bid is unknown at this time.

Boehly, who owns 20 per cent of Major League Baseball team LA Dodgers, is worth £4.72billion.

Chelsea owner Roman Abramovich rejected the offer from the 46 year old American billionaire because it fell short of his valuation of the club, £3billion.

Boehly is reportedly undeterred by Abramovich’s refusal to accept his bid and may test the water with a follow-up bid.

Boehly made his fortune as founder of Eldridge Industries after leaving Guggenheim Partners with huge investments in media, sport and property. Eldridge employ more than 2,500 across their business. 

Britain’s richest man, Sir Jim Ratcliffe – who is worth £21bn, had a bid rejected last summer but did not rule out returning to the table at some point in the future.

Since Abramovich bought Chelsea in 2003, the club has won the Premier League five times, the FA Cup five times, three League Cups, the Europa League twice and the Champions League.

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OTONY
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