Chelsea F.C. sale becomes latest record-setting deal at $3.1B
Now that Todd Boehly's €2.5 billion purchase of English soccer club Chelsea F.C. has been approved by the U.K. government, it will go down as the most expensive purchase of a sports franchise in history.
Why it matters: The sale is part of a recent trend of sports teams going for north of $2 billion.
- Along with the price to buy the team from Russian oligarch Roman Abramovich, the Boehly-led group is pledging an additional €1.75 billion ($1.87 billion) for "further investment for benefit of the club."
- Boehly also owns the Los Angeles Dodgers and has ownership stakes in the Los Angeles Lakers and Los Angeles Sparks.
What's next: Nobody is happier about the sale price than the NFL's Denver Broncos, which have been up for sale since February and are eyeing a $4 billion price tag, which would even further shatter records.