This is not true.
I'm sure Boehly does have a longer term vision of driving increased up the value of Chelsea FC as an asset. Many people (especially Americans) think big football clubs are worth more than their current value and many owners also have become de facto real estate developers, seeing stadiums as lynchpins of larger commercial developments. But there are definitely limits to the amount of money somebody like that is going to want to lose. And football clubs are really different than American sports teams in that regard. American sports are set up so that its almost impossible for the teams to lose money, even when they spending a lot like the Dodgers. A club like Chelsea, on the other hand, loses money most years.
No, you are wrong with all due respect. Many American owners don’t view sports as a profit mechanism at all. Jerry Jones spent more on his Jumbotron (1 billion) than most entire teams were worth at the time.
The Golden State Warriors work in the luxury tax and at nearly every season to keep that group together. Their owner just likes showing up at the big parties with bragging rights. He loves it.
It depends on the ownership. Todd Boehly told you what he wanted in his statement about the team. He has a tendency to hide his mission statements in his addresses. And he said Chelsea would be the biggest team in London, in the biggest and best League in the world, and would be one of the best teams and brands in world football. He will do what he needs to and spend what he needs to to reach that goal. Clearlake will likely take out another 900 million loan from itself for development as the project moves forward in the coming years, and I would expect Boehly to be predatorily active in future windows empowering his executives, just like he is right now. He will also spend gargantuan sums in the areas of running a team not heavily regulated like the players: medical staff, scouting structure, analytic teams, general support staff, facilities.
He has zero need to show immediate profit, and if he needs to finance the financers Like City does to deal with FFP, then he will. The sports teams get Clearlake in the door and sportswash their tech endeavors. They are a private equity group and don’t answer to anyone.
Yes, other owners do real estate investment. But that’s simplistic, and doesn’t cover “Meta ownership”. Boehly creates the tv channels for his teams, his groups own just about everything, down to the company that produces the salt that goes on the pretzels. But most of their money is still made in the tech field, NOT from from sports ownership.
Kroenke has the ability to do this as well, resource-wise, but he has always been seen as a combo of cheap and stupid. The way he approached spending to get his football team into the LA market, and the way he spent t to get the Rams a title … along with the determined investmentArsenal are starting to show … leads me to believe there could be a change there. Boehly sees LA and London as his turf. Kroenke sees it as his and has his nose out of joint. It could lead to an epic arms race.
Boehly is also the Lakers owner as well. 25% for now, but that could change in the future.
You of course don’t have to believe me. Just don’t be surprised, or ask “how can they do this?” each year. Individually Boehly is listed as being worth less than Ambramovich. But the Capital group that Boehly controls is MUCH wealthier. And Boehly, frankly, may prove even smarter. Setting up an academy like Chelsea’s and not having first refusal buyback clauses built into the sales of people like Declan Rice was preposterous. More often than not we were hurt by the luxury, big name “Roman signings” like Shevchenko, hobble knee Torres, Lukaku, et al. Half this window would be easily sorted if we could have just called back Tomori and Rice, then added from there.
We will see. Raine group is one of the better and more expensive “think tank” evaluation groups on earth. Roman charged them with finding the owner most likely to have the capability, means, and desire to really grow every aspect of the club, and they chose Boehly and Clearlake, absolute titans in the sports world. People are acting like they are scratch off winners who play a lot of FIFA.