George Osborne advising US billionaire Todd Boehly on Chelsea bid

George Osborne advises Todd Bohli’s bid to acquire the Chelsea football club from the sanctioned Russian billionaire Roman Abramovich, as the tender enters its final stages, according to people with knowledge of the subject.

The former UK chancellor, now a partner at boutique consulting firm Ruby Warsaw, adds to his political experience as Bohlie competes against rival billionaires to acquire the English Premier League team.

Bohlie, who works with Goldman Sachs on the deal, competes with private equity tycoons Josh Harris and David Blitzer, and in a separate bid led by Stephen Paglioka, co-owner of the Boston Celtics basketball team and co-chairman of a private equity firm. Bain Capital.

Osborne, a West London fan, is close to Daniel Finkelstein, the Times columnist and fellow columnist who backed Bohle, the co-owner of the Los Angeles Dodgers baseball team and former Guggenheim Partners president.

The involvement of Osborne and Robbie Warsaw indicates the complexity of the Chelsea auction. Issues exceed the price and range from the need to fund the expansion of Stamford Bridge Stadium to the role of the government in a sale forced by Russia’s invasion of Ukraine and the donation of net proceeds to charity. Osborne’s role was first reported by Sky News.

A Chicago-based Rickets family consortium, hedge fund billionaire Ken Griffin and Cleveland Cavaliers basketball team owner Dan Gilbert Eagle from the auction On Friday after they did not agree on the terms of their offer.

Bidders were required to submit detailed bids by Thursday.

Traders bankers in the Reina Group handle the sale.

Each deal requires special approval from the UK government because of the sanctions on Abramovich.

Osborne left the Evening Standard and property manager Blackrock when he Joined Ruby Warsaw last year.

She advised on some of the UK’s highest-profile deals, such as the $ 27 billion acquisition of the London Stock Exchange by data provider Refinitiv and the acquisition of Macquarie’s £ 4.2 billion of National Grid’s gas transmission control stake.

Osborne assisted Ruby last year and was allowed to win a mandate to advise Rosal, a subsidiary of the Russian metals group EN +, on a number of issues.

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George Osborne advising US billionaire Todd Boehly on Chelsea bid Source link George Osborne advising US billionaire Todd Boehly on Chelsea bid

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