Stability the key for Boehly
Americans are not chasing a quick buck
CHELSEA are in safe hands as they look to rebuild under their new American owners. But don’t expect a repeat of the club’s £97.5million gamble on striker Romelu Lukaku.
Chelsea’s £4.25bn sale to a consortium led by American investor Todd Boehly and private equity firm Clearlake Capital was completed last week.
And Boehly’s management of the LA Dodgers and LA Lakers suggests it won’t be a quiet summer at Stamford Bridge.
Although a leading sports finance expert believes that the emphasis will be on value rather than gambling huge sums on big-name stars.
“He’s an owner with a very solid reputation for building franchises in US sport,” says Jordan
Kobritz, professor in sport management at SUNY Cortland University.
“The LA Dodgers have the largest wage bill in Major League Baseball (MLB) but they also have a reputation for doing things the right way.
“I’m not sure how much of an influence he has in terms of where the money is spent but I don’t think we’ll suddenly see Chelsea going off and spending millions on players with no sell-on value.
“The Dodgers have one of the best farm systems, or youth systems, as you would call it there.
“They take an enormous amount of pride in producing their own players.
“He’ll be very aware of how important the club’s academy is. Not just in terms of bringing players into the first team but also developing talent the club can sell on. So I think you’ll see a mix of big-name signings with future value as well as an emphasis on the club’s youth system.
“He hasn’t bought into Chelsea to make a quick buck, he’s someone who is involved in sport because he sees it as a long-term investment.
“If you were looking for someone to bring stability to a club, he’s probably your perfect
guy.”
After the 2022 they’ve had so far, that will be music to the ears of Chelsea fans.
With the Lakers and Dodgers two of American sports’ biggest and most prestigious names, Boehly is no stranger to maintaining tradition.
That said, with so many American owners now in the Premier League, he will also have one eye on the future.
And although he will have noted the outpouring of anger that accompanied the announcement of the European Super League, he will also be aware of the financial possibilities it brought with it.
“I’m not saying he would support it but the reaction in America was clearly very different to the reaction there,” says Kobritz.
“I think most people in American sport saw it as a logical next step.
“They saw it as a way of getting the best clubs playing each other more regularly and generating huge amounts of money.
“I don’t think that feeling will have gone away.and I don’t think the idea has either.”