Chelsea launch multi-club project by buying majority stake in Strasbourg
Chelsea have kickstarted their multiclub project by buying a majority stake in Strasbourg. The deal is a major boost for the Premier League club’s owners, Todd Boehly and Clearlake Capital, who have been looking for suitable clubs to purchase since last summer.
The initial expectation had been that Chelsea would be forced to settle for a minority stake in Strasbourg, leaving them unable to exert full control over the French club. Sources questioned whether there would be any benefits to such a deal for Chelsea and further talks were held.
The size of the stake is unknown but it is understood Chelsea will have close to a 100% ownership. Reports in France have claimed Chelsea are paying €75m (£65m) for their share.
“It is an honour for us to be part of this historic club,” said BlueCo, the consortium which purchased Chelsea. It said it was “committed to preserving the heritage” of Strasbourg and that the deal was designed to “further our presence in European football” and would “create huge opportunities to share knowledge and expertise”.
Boehly has spoken about a multiclub model being a method of making sure “we can show pathways for our young superstars to get on to the Chelsea pitch while getting them real game time”. Gaining influence at Strasbourg will give Chelsea a footing in a country that produces some of the best players in the world.
Chelsea have looked at a number of clubs in France, Belgium, Portugal and South America. There have been talks with Bordeaux but sources indicated a deal with Strasbourg made more financial sense. The price was dependent on Strasbourg winning their battle against relegation from Ligue 1, which they did by finishing 15th.
Chelsea stepped up their interest in Strasbourg after Boehly was unable to reach a deal with Bordeaux’s president, Gérard López. Boehly has held productive discussions with Strasbourg’s president, Marc Keller, in recent months.
There were 11 shareholders at Strasbourg and Keller’s 27% stake gave him the biggest share.
Keller, a former Strasbourg player and a frontrunner to become the next president of France’s football federation, has an emotional connection with the club. He has rebuilt the side since becoming president in 2012 and has stressed the importance of the club staying true to its values.
He said the deal with Chelsea would “enable the club to further its ambition, with responsibility. We’re doing it for our fans, for our partners, for our town and our region.” Keller is staying as president, supported by the same management team.
Buying Strasbourg will offer Chelsea a way of giving experience to young players who could then be brought to Stamford Bridge. The practice has been followed by Manchester City’s parent company, City Football Group, which has satellite clubs around the world. Brighton’s owner, Tony Bloom, owns the Belgian club Union Saint-Gilloise. Kaoru Mitoma, outstanding for Brighton this past season, thrived on loan at Union SG last season.
Uefa’s president, Aleksander Ceferin, recently hinted at relaxing restrictions on clubs with the same owner playing in the same European competition. A change in the regulations would be a boost for Chelsea’s owners.
Meanwhile, Manchester United remain confident of signing Mason Mount despite Chelsea rejecting their first two offers for the midfielder. Chelsea are holding out for £70m.
United had their latest offer of £45m plus £5m in add-ons rejected on Wednesday and are biding their time before returning with a third bid.