Same old Chelsea, always spending. US owners raise another £800m

July 22 – Chelsea’s new owners have raised £800 million in debt to help with future planning in the post-Abramovich era, focusing on revamping the squad and infrastructure.

The American Toddy Boehly and Clearlake Capital have raised £800 million, which will go towards the playing squad, stadium and academy set-up, according to the Financial Times. The funds have been arranged as a £500 million loan and a revolving credit facility of around £300 million.

The equity is reportedly not being borrowed against the club. The £500 million loan would form part of their £1.75bn commitment to Chelsea, while the revolving credit facility is said to be for “working capital purposes”.  When Boehly and Clearlake Capital acquired the Stamford Bridge club, they vowed to invest a further £1.75 billion into Chelsea, having bought the club from Abramovich for £2.5 billion.

The Financial Times reported that Bank of America and JP Morgan are among the banks involved with the financing.

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