Sports
Boehly eyes Chelsea success after sealing takeover
Chelsea’s new owner Todd Boehly promised to build on the team’s “remarkable history of success” after the American completed his takeover of the Premier League club on Monday.
Boehly’s consortium agreed a deal to buy Chelsea from Roman Abramovich for £4.25 billion ($5.3 billion) on May 7 and the sale has now been officially rubber-stamped.
“We are honoured to become the new custodians of Chelsea Football Club. We’re all in, 100 percent, every minute of every match,” Boehly told Chelsea’s website.
Boehly’s takeover ends Abramovich’s 19-year reign as Chelsea owner after the Russian put the club up for sale in March.
Abramovich was sanctioned by the British government for his alleged links to Russian President Vladimir Putin following the invasion of Ukraine.
Los Angeles Dodgers co-owner Boehly has set his sights on emulating Chelsea’s success during the Abramovich era, which included five Premier League titles and two Champions League crowns among 19 major trophies.
“Our vision as owners is clear: we want to make the fans proud,” Boehly said.
“Along with our commitment to developing the youth squad and acquiring the best talent, our plan of action is to invest in the club for the long-term and build on Chelsea’s remarkable history of success.”
Chelsea had been operating under a special government licence which would have expired on May 31 if Boehly had been unable to seal the purchase.
That would have put Chelsea’s future in doubt, but they are now able to look forward to next season as the Boehly regime takes the keys to Stamford Bridge.
Boehly’s group needed approval from the Premier League, the British government and Portuguese authorities — Abramovich has Portuguese citizenship — before the sale could be completed.
“I personally want to thank ministers and officials in the British Government, and the Premier League, for all their work in making this happen,” Boehly said.
Boehly fought off 11 rival bidders to buy Chelsea in what is a record sale for a sports club.
He will “share joint control and equal governance of the club” with his main partner Clearlake Capital investment firm.
Boehly is Chelsea’s controlling owner, but will work closely with Clearlake co-founders Behdad Eghbali and Jose Feliciano.
‘Even more success’
Swiss billionaire Hansjorg Wyss and US tycoon Mark Walter are the other main members of the consortium.
“We are excited to commit the resources to continue Chelsea’s leading role in English and global football, and as an engine for football talent development,” Eghbali and Feliciano said in a joint statement.
“We also want to thank the authorities for all their work throughout the process.
“As pioneers in sports and media investing, we are thrilled to partner with Todd and the rest of the consortium to meaningfully grow the club as a global platform.
“Together, we will expand the club’s investment across infrastructure, technology, and sports science to support the incredible Chelsea football and commercial teams – all with the goal of leveraging this growth to fuel even more on-pitch success.”
Boehly’s arrival in west London will turn the page on Chelsea’s remarkable transformation from underachievers to serial winners under Abramovich.
Crucially, the takeover completion should give Blues boss Thomas Tuchel the financial support to mount a challenge to Premier League champions Manchester City.
Chelsea finished third in the Premier League this term, ensuring they qualified for next season’s Champions League.
Tuchel’s side also reached the FA Cup and League Cup finals — losing both matches to Liverpool on penalties — and won the Club World Cup and UEFA Super Cup.
Chelsea were unable to sign players or offer contracts to existing stars because of the sanctions on Abramovich.
They are set to lose Antonio Rudiger to Real Madrid on a free transfer, while Andreas Christensen is set to join Barcelona when his contract expires in the close-season.
After Abramovich halted plans to redevelop Chelsea’s stadium several years ago, the new owners “are committed to investing in key areas that will extend and enhance Chelsea’s competitiveness, including the redevelopment of Stamford Bridge”.
The Nigeria Football Federation (NFF) has confirmed the appointment of German tactician Bruno Labbadia as the new Head Coach of Nigeria’s Senior Men’s National Team, the Super Eagles.
This development was announced by the NFF General Secretary, Dr. Mohammed Sanusi, in the early hours of Tuesday, following the approval of the NFF Executive Committee based on a recommendation from its Technical and Development Sub-Committee. Labbadia’s appointment takes immediate effect.
Born on 8th February 1966 in Darmstadt, Germany, Labbadia enjoyed a distinguished playing career, earning two caps for the German national team. His club career included stints at prominent clubs such as Darmstadt 98, Hamburger SV, FC Kaiserslautern, Bayern Munich, FC Cologne, Werder Bremen, Arminia Bielefeld, and Karlsruher SC. Notably, he won the Bundesliga title with Bayern Munich in 1994.
Labbadia’s coaching career has seen him manage top-tier clubs such as Hertha Berlin, VfB Stuttgart, VfL Wolfsburg, Hamburger SV, and Bayer Leverkusen, among others. He holds a UEFA Pro License and is well-regarded for his tactical acumen.
With his appointment, Labbadia becomes the sixth German to lead the Super Eagles, following in the footsteps of Karl-Heinz Marotzke, Gottlieb Göller, Manfred Höner, Berti Vogts, and Gernot Rohr. Höner notably guided the Super Eagles to a runner-up finish at the 1988 Africa Cup of Nations, while Rohr qualified Nigeria for the 2018 FIFA World Cup in Russia.
Labbadia’s immediate task is to prepare the Super Eagles for their upcoming 2025 Africa Cup of Nations (AFCON) qualifying matches.
Nigeria will face Benin Republic on Saturday, 7th September in Uyo, and Rwanda on Tuesday, 10th September in Kigali. The team will also play four additional qualifying matches in October and November as they aim to secure a spot in the 2025 AFCON, scheduled to be held from December 21, 2025, to January 18, 2026.
The Super Eagles, placed in Group D, will face familiar foes Benin Republic, who recently defeated Nigeria in the 2026 World Cup qualifiers. The draw for the AFCON qualifiers, held in Johannesburg, South Africa, last month, also sees Nigeria taking on Libya and Rwanda, both of whom are also part of the Super Eagles’ group for the 2026 World Cup qualifiers set to be hosted in the USA, Canada, and Mexico.
Labbadia’s appointment comes at a crucial time as the Super Eagles look to regain their dominance on the African continent and secure qualification for both the AFCON and the World Cup.
Finidi George has stepped into a new role as the technical manager for NPFL side, Rivers United, following his resignation as coach of the Super Eagles.
During his brief tenure with the Eagles, George’s 1-1 draw against South Africa in Uyo and a 2-1 loss to Benin Republic in Abidjan cast doubts on Nigeria’s World Cup qualification, prompting calls from fans for his dismissal.
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Nevertheless, Rivers United, the 2021-22 champions, expressed optimism in a statement on Wednesday via their official handle about having the former Eagles international manage their team.
“Finidi brings a wealth of experience and expertise to our team, having had a distinguished playing career spanning over fifteen years,” the statement read.
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Dr. Okey Kpalukwu, General Manager of Rivers United FC, welcomed George, stating, “We are delighted to have Finidi George join our team. His appointment marks a new chapter in our club’s history, and we are committed to working together to achieve success.”
Expressing his gratitude to the club, an elated George remarked, “I am honored to have this opportunity, and I thank the Sports Commissioner, the General Manager, and the supporters for their confidence in me. I am committed to working hard and making the team win.”
Inter Milan were taken over by US fund Oaktree on Wednesday after the Serie A champions’ outgoing owners Suning missed a deadline to repay a debt worth hundred of millions of euros.
In a statement, Oaktree announced they had “assumed control” of Inter after the non-repayment of a “three-year loan to Inter Milan’s holding companies that matured on 21 May 2024 with a total balance due of approximately 395 million euros ($428 million)”.
Chinese conglomerate Suning have relinquished control of Inter to Oaktree three days after the team were officially crowned Italian champions for the 20th time.
Suning borrowed 275 million euros at over 12 percent interest three years ago to pay staff and players as the Covid-19 pandemic ravaged the finances of clubs across Europe, putting up their controlling stake in the club as collateral.
“Oaktree is dedicated to achieving the best outcome for the long-term prosperity of Inter Milan, with an initial focus on operational and financial stability for the Club and its stakeholders,” Oaktree continued.
Inter became a powerful force at home and abroad after Suning acquired the club in 2016, with seven trophies including two Serie A titles and two European finals.
Simone Inzaghi’s team cruised to this year’s championship, winning the Scudetto with five matches remaining by beating AC Milan in a thrilling local derby.
Oaktree, which manages $192 billion in assets, said they are “committed to working closely with Inter Milan’s current management team, partners, the league and governing bodies to ensure the Club is positioned for success on and off the pitch”.
Inter ended up in the hands of Oaktree in a manner similar to the way another US fund, Elliott Management, took control of their local rivals Milan in 2018.
Elliott became Milan’s owners when Chinese businessman Li Yonghong was unable to repay a loan he had taken out when he bought the club from the late Silvio Berlusconi’s Fininvest the previous year.
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