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U.S. investor completes $5.4bn Chelsea FC takeover

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Chelsea Football Club is under new ownership, with U.S. billionaire Todd Boehly and Clearlake Capital behind the $5.4bn takeover

Signed, sealed, delivered. The Todd Boehly and Clearlake Capital consortium have been chosen as the preferred bidder, after a lengthy sale process.

The Chelsea Football Club believes “the Board and the Boehly/Clearlake group have a shared vision for the future of Chelsea Football Club.”

Todd Boehly

The club announced the news after months of doubts and legal uncertainty because of Russian sanctions rules.

Former owner Roman Abramovich has now completed the sale and ended his 19-year reign of the company.

The west moved to sanction Russia and its people, including oligarchs living abroad, amid the war in Ukraine. 

Abramovich was then sanctioned by the UK Government, meaning the club operated within the constraints of the General Licence, until a new owner was found.

Roman Abramovich. Photo credit: The Sun

The sanctions also presented unique and unforeseen challenges to the sale process, and the selection was extremely thorough, with the club sifting through 250 bids.

In order to complete the transaction, the club needed approvals from all stakeholders and the U.K. Government. 

The money from the purchase will eventually go to a humanitarian charity to help the victims after Russia’s invasion of Ukraine.

Abramovich will not benefit from the sale, despite pouring millions of his own wealth into the club. 

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Trump & Biden prepare for the earliest debate in modern U.S. history

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The first debate of the year between President Joe Biden and former president Donald Trump will take place this week in Atlanta.

This debate marks a milestone as the earliest presidential debate in modern U.S. history, and will prove to be a critical event for both candidates.

Joe Biden and Donald Trump are neck-and-neck in national opinion polls, with a considerable slice of the electorate still undecided five months before the Nov. 5 vote. #featured #trending

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Ferrari’s debut high-performance electric vehicle will be priced above $500,000

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Ferrari has unveiled details about its inaugural electric car, slated to be priced upwards of $500,000, as first reported by Reuters.

This announcement comes amidst growing global interest and competition in electric vehicles, with Ferrari aiming to blend its iconic design prowess with sustainable technology.

The Italian automaker, renowned for its high-performance sports cars, is expected to maintain its commitment to superior craftsmanship and engineering excellence in its electric offering.

Following the EV announcement, Ferrari also confirmed plans to establish a new manufacturing plant aimed at enhancing production flexibility and significantly reducing car development times.

Mike Costello from Cox Automotive joins to discuss the latest in EVs. #featured #trending

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Commercial real estate targeted for producing 40% of global emissions

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Commercial real estate contributes significantly to global emissions, with reports suggesting it makes up to 40% of the total – so is there a solution in sight?

Global strategies are setting out to transform this impact by promoting the development of sustainable buildings.

As climate change continues to be a pressing global issue, the commercial real estate sector must pivot towards more eco-friendly solutions.

One of the most impactful actions that can be taken to mitigate the environmental impact of commercial real estate is the implementation of building automation systems.

Louise Monger, Vice President, Digital Buildings of Schneider Electric, joins to share her key insights into the issue. #featured

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