Todd Boehly, a 46-year-old businessman from Bethesda, is leading the group who had come to a deal to become the new owners of the Premier League’s Chelsea Football Club, the team confirmed in a statement yesterday. He is also part-owner of Major League Baseball team Los Angeles Dodgers and minority owner of the NBA’s Los Angeles Lakers and the WNBA’s Los Angeles Sparks.
While there are conflicting reports as to whether he was born in Connecticut or Maryland, Boehly spent his formative years in Bethesda, where he attended the Landon School and graduated in 1991. According to the Sporting News, he’s “from Bethesda, Maryland, the grandson of German immigrants made his money in investments and was the president of Chicago financial services firm Guggenheim Partners. Today he is the co-founder, CEO and chairman of Eldridge Industries, a private investment firm which makes investments across many different sectors. He has connections to the U.K., having attended the London School of Economics in the mid-90’s and worked for Citibank in the English capital.”
Boehly himself is worth around $4.5 billion, according to Forbes. Yesterday’s statement from Chelsea F.C. states that “the 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. Boehly’s group is purchasing the club in a deal worth $5.25 billion (£4.25 million), making it the most expensive team transaction in sports.”