Chelsea have raised around $500million (£403.3m) from California-based Ares Management, according to the Financial Times. The Blues have been searching for investment in recent months to fund possible stadium improvements at Stamford Bridge....CONTINUE READING
In August, it was reported that Todd Boehly and Clearlake Capital had held talks with a number of investors over possible funds for upgrades to the home of the Blues and a multi-club model. The delay in the sale of Manchester United, valued in the region of $6billion, is said to have played a role in the investment interest in Chelsea….READFULL
Now, it has been claimed that the Blues have raised half a billion dollars from Ares Management. The Financial Times reports that according to two people knowledgeable of the matter, the US alternative asset manager has provided the capital injection as an equity deal.
The move comes after Boehly and Clearlake spent heavily in the past three summer transfer windows. Over £1billion has been spent on new signings since completing their takeover from Roman Abramovich in May 2022.
Despite the spending, Chelsea have struggled to reach the heights previously hit by the club. Last season, they finished 12th in the Premier League and Mauricio Pochettino has struggled to hit the ground running in his first five games in charge.
For any supporters curious as to what Ares Management is, it describes itself on its website as a market-leading global alternative investment manager. As well as providing flexible capital to support businesses, they also offer investment solutions in credit, private equity, real estate and infrastructure assets.
Prior to Boehly’s completion of his takeover, Ares were said to be financing two parties involved in the bidding war. They also have involvement in La Liga giants Atletico Madrid and Lionel Messi’s Inter Miami, while helping in financing Eagle Football’s acquisition of Lyon.
$500million is a huge chunk of cash and fans will be hoping to see that spent on new recruits in the upcoming transfer windows.
However, as the report from the Financial Times states, the Blues remain undecided over whether to develop Stamford Bridge or build a brand new home at Earl’s Court meaning any money raised from the Ares deal is likely to be used for that rather than transfers.
It comes after the club took a huge step in the right direction to secure new land for their renovation project. According to reports, a deal in principle has been struck with veterans charity Stoll in order to purchase a 1.2-acre plot of land next to Stamford Bridge.
Over 100 local military veteran residents of their flats on the land could be forced to move away if the deal goes through, with the charity claiming that around 20 of the properties would still remain and that the money raised through the deal would be invested back into the charity to secure new homes for those affected….READFULL
