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17 Jul, 2019 15:39

US baseball tycoon mulling bid for Roman Abramovich’s Chelsea – reports

US baseball tycoon mulling bid for Roman Abramovich’s Chelsea – reports

Todd Boehly, part owner of MLB franchise the LA Dodgers, is said to be interested in expanding his sports empire by making an official bid to buy Roman Abramovich's Chelsea or their London rivals Tottenham, according to reports.

Boehly, 46, has significant financial backing from his private investment firm Eldridge Industries, which holds assets in various industries from real estate to insurance and sport and according to the Evening Standard, he is reportedly on the verge of making an approach to acquire one of the English Premier League's key players.

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Chelsea, currently owned by Russian billionaire Abramovich, and Daniel Levy's Tottenham Hotspur are thought to be the two clubs in the American's crosshairs, with Boehly understood to be favoring a move for Tottenham given that their current market valuation is higher than that of Chelsea.

Abramovich has been linked with a sale of the club he purchased in 2003, particularly given the visa issues he faced amid the fall-out between the UK and Russia over the Skripal spy poisoning saga. 

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Abramovich is said to value his club at £2.5 billion ($3.1 billion), though Tottenham's newly redeveloped stadium, training facilities and recent route to the Champions League Final is thought to make them a more attractive target for investors. 

Levy, meanwhile, owns 85.55 percent of Tottenham Hotspur alongside Joe Lewis, his partner in the investment company ENIC International Ltd. and it is uncertain as to whether he would entertain a bid for the club.

Both Chelsea and Tottenham reasserted in the wake of these reports that they have no intention of selling. Boehly's Eldridge Industries has a private market valuation of £4.8 billion ($6 billion), well within the presumed figure necessary to complete a deal - so long as Abramovich or Levy are open to one.

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