Newsletter

Get your daily update and weekly newsletter by signing up today!

News

New Chelsea owner admits Newcastle United now make it Premier League ‘big seven’

1 week ago
Share

Todd Boehly has been talking about what he believes the future holds for the Premier League.

The new Chelsea owner believing that most of the existing PL owners don’t realise just how big the opportunities are going to be to bring in ever greater revenues in the future.

Todd Boehly and his business partners paid £2.5bn to buy Roman Abramovich’ shares, as well as declaring their commitment to investing another £1.75bn into the club.

Only a fool would believe there was any other reason for the new Chelsea owners doing this, other than in the belief that in the future they will make all that money back and more.

Todd Boehly clearly believing that Premier League clubs are generally undervalued at the moment, hence the willingness for he and his business partners to commit a total of £4.25bn to their Chelsea project.

Crazy stuff for many people to hear, especially when you consider that Chelsea only get 40,000 crowds and don’t even own their own ground.

As for the competition…interesting to hear Todd Boehly state ‘The big six will become the big seven with the Saudi deal for Newcastle.’

Then declare ‘There is going to be opportunity for everyone to win.’

The Saudi Arabia PIF led purchase of Newcastle United cost a total of £305m, with the PIF element buying 80% of the club.

Even allowing for the shocking lack of investment, as well as care and attention, allowed by Mike Ashley over the course of 14+ years, it is difficult to get away from the belief (fact!) that the Saudi Arabia PIF have bagged themselves an absolute bargain.

Maybe even a bigger one than they first thought, if Todd Boehly is anywhere close to the truth…

Especially with the Everton owners believing they can find a buyer willing to pay over £500m for the scousers AND in the knowledge that they would then have to find another £500m to pay for the essential new stadium.

Todd Boehly speaking to Bloomberg News 15 June 2022:

“They (Premier League clubs) don’t realise how big their opportunity is.

“Let’s get a hold of our destiny and think about how to optimise this.

“The big six will become the big seven with the Saudi deal for Newcastle.

“There is going to be opportunity for everyone to win.”

Share

If you would like to feature on The Mag, submit your article to [email protected]

Have your say

© 2022 The Mag. All Rights Reserved. Design & Build by Mediaworks