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Six Firms Lead Clearlake-Led Group’s Chelsea Football Club Buy

June 1, 2022, 10:55 AM

Paul Weiss, Latham & Watkins, and Sidley Austin advised a consortium led by Clearlake Capital Group and Los Angeles Dodgers co-owner Todd Boehly on its acquisition of Chelsea Football Club in London.

Northridge Law, Simmons & Simmons, and Pillsbury Winthrop advised billionaire Roman Abramovich’s Fordstam Limited and Chelsea FC on the transaction, which closed Monday, according to a statement. Bloomberg News reported that the U.K. government earlier approved the sale for 4.25 billion pounds ($5.34 billion).

The club was among assets that the Russian oligarch Abamovich was forced to sell after the UK responded to the Ukraine invasion with sanctions on Russia and individuals it said had enabled President Vladimir Putin.

Boehly, who’s chairman and CEO of Eldridge Industries, and Clearlake will share joint control and governance of the club.

The buying consortium also includes Hansjörg Wyss, founder of the Wyss Foundation, and Mark Walter, co-founder and CEO of Guggenheim Capital. Walter and Boehly are co-owners of the Dodgers, the Los Angeles Lakers, and the Los Angeles Sparks, the statement said.

To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com

To contact the editors responsible for this story: Chris Opfer at copfer@bloomberglaw.com