ANTI-GLAZER clause inserted into the Chelsea deal with Todd Boehly by Roman Abramovich
What Is The “ANTI-GLAZER” Clause Roman Abramovich Inserted Into The Chelsea Deal With Todd Boehly?
Now, let’s go back to when “The Glazers” bought Manchester United.
The Glazers took over Man United in 2005 when Glazer senior, Malcolm bought 90% of Man United in a £790M deal.
The Glazers “floated” Manchester United on the New York Stock Exchange
When a company is “floated”, it means giving a percentage of the company for sale to the public in the form of shares
The Glazers have made hundreds of millions of pounds from the sale of shares ever since.
It didn’t end there, they also saddled the club with expensive debts.
As of 31st December 2021, Manchester United’s net debt stood at £494.8M.
There are no limits to their accumulation of debt.
Man United tops the net debt club league table comfortably thanks to the Glazers.
Todd Boehly may be the face of the group that bought Chelsea but the “Clearlake Capital”, a group of investors is the ones providing 60% of the funds used in buying Chelsea.
They hold half of the voting rights with Todd Boehly holding the other half.
As investors, they expect “Dividends”.
Dividends are payments made to investors for investing in a business.
But according to the “Anti-Glazer Clause”, they won’t be getting any dividends till 2032, that is 10year’s time.
There won’t be any payment of management fees too.
Management fees are paid to an investment adviser.
The Anti-Glazer Clause also states that Todd Boehly and his consortium would not be able to “float” Chelsea as The Glazers did to Man United for the next ten years.
They won’t be making money from Chelsea by selling its shares.
The Clause also placed a limit on the debt the new owners can place on the club.
It also made sure the group pledged £1.75B to be invested in Chelsea’s male and female teams, the academy, stadium, and the Chelsea Foundation.
Roman Abramovich secured Chelsea for at least 10yrs.
The clause is a safety net for Chelsea and Todd Boehly has a good track record with Sports teams.
He transformed a near-bankrupt L. A Dodgers team to the most expensive squad in the league, making them the highest spenders and winning them their first trophy in 32yrs.
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