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Todd Boehly: Can he emulate Dodger’s title reshuffle at Chelsea?

09 May 2022 | 13:13 | Football

Todd Boehly (Getty Images)

Todd Boehly (Getty Images)

For Todd Boehly, the billionaire American businessman who led the consortium that bought Chelsea in a £4.25 billion ($5.2 billion) deal, ownership of a Premier League club is a big deal. The move was long sought.

The 46-year-old from Virginia, who grew up a fan of Major League Baseball’s Baltimore Orioles, was a key member of the ownership group that bought the Los Angeles Dodgers from Frank McCourt in 2012 for $2 billion dollars – then a record for a North American sports team acquisition

In the decade since Guggenheim Baseball Management – the investment group that includes Mark Walter and Los Angeles Lakers legend Magic Johnson – took over the Dodgers in turmoil, the club has become a perennial contender. five, reaching the knockout stages of the past nine seasons.

They won the World Series three times in four years, leaving empty-handed in 2017 and 2018 before claiming the title in 2020.

This shift, coupled with the revival of Dodger Stadium, was fueled by a multimillion-dollar media deal and, under Boehly and his co-investors, the Dodgers overtook New York Yankees to become MLB’s most spending club.

Boehly and Walter each spent $100 million to buy Dodgers, while more than $1 billion came from insurance companies Guggenhiem Partners.

“There is only one Dodgers,” Boehly said at the time. “It’s not, ‘Oh, if you don’t take this, you can go get that.'”

Directing the Dodgers out of unrest after McCourt isn’t the only time Boehly has dived into turbulent waters.

In October, he became interim chief executive officer of the Hollywood Foreign Press Association, the group that awards the Golden Globes, as it deals with the fallout from a Los Angeles Times investigation that revealed flaws in the Hollywood news. ethics and lack of diversity.

The opportunity to return to the world

Boehly left Guggenheim Partners in 2015 and co-founded parent company Eldridge Industries, of which he is chairman and chief executive officer.

He is also president of Security Benefit, which has commercial partnerships with the Dodgers and MRC Entertainment, a Beverly Hills-based media company that owns Billboard, Rolling Stone, Variety, Hollywood Reporter and Dick Clark Productions.

Boehly has also expanded her sports interests. He’s a part owner of WNBA’s Los Angeles Sparks and last year bought shares with Walter in the NBA’s Los Angeles Lakers.

The opportunity to buy Chelsea, the reigning European champions, came after Russian owner Roman Abramovich put the club on the market in early March, just days before he was sanctioned by the British government due to Russian aggression. Ukraine strategy.

Discussing a previous attempt to buy Chelsea that was turned down, Boehly told Bloomberg in 2019 that “what you’re trying to build with these teams, you’re really trying to win and be one part of the community.”

Without a doubt, the Premier League’s global position and return on investment is a key driver of Boehly’s interest.

“It’s the highest quality game, it’s the best players,” he told Bloomberg in 2019. “You also have a growing media market.”