News
U.S. investor completes $5.4bn Chelsea FC takeover
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.”
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.
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.
Australia’s multimillion-dollar campaign to attract Hollywood productions to its shores appears to be paying off.
The allure of Australia lies not only in its picturesque locations but also in its competitive financial incentives.
The government offers generous rebates and tax breaks to international productions, making it an attractive proposition for filmmakers looking to maximise their budgets.
Despite the recent intake of Hollywood productions down under such as ‘The Fall Guy’ and ‘Furiosa: A Mad Max Saga’, Aussie independents are still finding the space to carve their own creative path.
Rob Fantozzi joined the program to discuss the latest in Hollywood, and showcased his own upcoming project – ‘Omerta‘. #featured
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