- Chelsea set to borrow £250 million
- Bank of America brought on as advisors
- Already have £800 million in loans
WHAT HAPPENED? According to a report in Bloomberg, the Blues are exploring the possibility of borrowing an additional £250 million to support their ongoing investment in the football club. They have brought onboard Bank of America Corp. to provide guidance in this matter. Currently, Chelsea's owners already have £800 million in loans in place, with the option to extend their borrowing capacity to £1.05 billion.
This move aims to provide the club with the financial resources needed for player acquisitions and the redevelopment of Stamford Bridge.
THE BIGGER PICTURE: While deliberations are ongoing, it was reported that lenders were even invited to attend Chelsea's recent match against Aston Villa. The club recently raised £500 million through subordinated debt from Ares Management Corp.
IN ONE PHOTO:
Getty/GOALWHAT NEXT? Chelsea's majority owner, Clearlake Capital, and investor Todd Boehly have been actively investing in the club since they took control in May 2022 and have already spent close to a billion in player acquisitions to reshape the existing squad. However, their efforts are yet to bear fruits as the Premier League outfit find themselves struggling in 14th position in the table with just one win from the first six matches.
