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Chelsea Takeover: Todd Boehly-Led Group Gets Premier League Approval at $5.33bn

English Premier League has approved the official takeover of Chelsea Football club

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The English Premier League has approved the official takeover of Chelsea Football club by Todd Boehly-led group at the rate of $5.33bn. This was disclosed in an official statement released by the Premier League.

The Statement reads: “The Premier League Board has today approved the proposed takeover of Chelsea Football Club by the Todd Boehly / Clearlake Consortium.

“The purchase remains subject to the Government issuing the required sale license and the satisfactory completion of the final stages of the transaction. The Board has applied the Premier League’s Owners’ and Directors’ Test (OADT) to all prospective Directors and undertaken the necessary due diligence.

“Chelsea FC will now work with the relevant Governments to secure the necessary licenses to complete the takeover”.

It would be recalled that earlier in the month, Investors King reported that a U.S. consortium comprises of Todd Boehly, Clearlake Capital, Mark Walter and Hansjoerg Wyss agreed to a £4.25 Billion takeover of the English Premier League club.

In a statement released by the club, the organisation noted that the £4.25 Billion deal is subject to United Kingdom Government approval. This latest announcement just confirmed that approval.

Now the investors would be expected to pay £2.5 Billion to purchase the club shares and also commit another £1.75 Billion for various investments in the club’s projects.

However, there are still discussions between the European Commission, the United Kingdom government and  Roman Abramovich on how the share of the price would be distributed. 

Chelsea Football Club finished third on the Premier League table and has qualified for the Champions League by next season. The club will at least contest for a £17m winning price for a European championship. 

The members of the Consortium purchasing the club are affiliates of the Clearlake Capital Group, L.P. Todd Boehly, Hansjorg Wyss, and Mark Walter.

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Sport Business

Eni Aluko Breaks Barriers: First Black Female Football Club Owner in Italy

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Eni Aluko, former sports director for Aston Villa and Angel City, has shattered the glass ceiling by becoming the first black female football club owner in Italy.

Aluko’s journey from the pitch to the boardroom marks a monumental shift in the traditionally male-dominated realm of football ownership.

Aluko’s foray into ownership comes through her involvement with the Mercury 13 group, a consortium dedicated to revolutionizing women’s football.

This $100 million investment group, named after the 13 female pilots who passed the same rigorous testing as NASA’s original Mercury 7 astronauts, aims to elevate the status of women’s football teams across Latin America and Europe.

Their recent acquisition of a majority stake in FC Como Women, situated in northern Italy, underscores their commitment to this vision.

For Aluko, this milestone isn’t just about personal achievement; it’s about paving the way for future generations of black sports investors and female football enthusiasts.

“Representation matters,” Aluko emphasized in a recent interview. “As the first, I understand the significance of this moment. But more importantly, I see it as an opportunity to inspire others and to promote diversity and inclusivity in the beautiful game.”

Aluko’s transition from player to owner is a testament to her unwavering dedication to football.

Having retired from professional play, she has seamlessly transitioned into roles in sports broadcasting and now ownership, leveraging her extensive experience and expertise to drive meaningful change within the industry.

The significance of Aluko’s ownership stake extends far beyond the confines of FC Como Women. It serves as a beacon of hope and inspiration for marginalized communities within football, signaling that barriers can be broken and dreams can be realized regardless of race or gender.

The Mercury 13 group’s investment in FC Como Women is poised to catalyze a new era for the club and women’s football in Italy as a whole.

With Aluko at the helm, there is an undeniable sense of optimism and momentum surrounding the future of the team and the broader movement for equality within the sport.

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Joshua Dominates Ngannou with Second-Round Knockout in Saudi Arabia Showdown

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Nigerian British boxer Anthony Joshua showcased his prowess by delivering a second-round knockout against UFC heavyweight champion Francis Ngannou.

The thrilling encounter unfolded with Joshua demonstrating his technical skill and power, overwhelming Ngannou with his calculated strikes.

From the outset, Joshua asserted his dominance, landing a formidable right hand in the opening round that set the tone for the match.

Despite Ngannou’s resilience, Joshua continued to press forward, maintaining control of the bout.

As the second round commenced, Joshua unleashed another powerful right hand that visibly rocked Ngannou.

Despite his efforts, Ngannou found himself on the canvas once more, unable to withstand Joshua’s onslaught.

The referee swiftly called an end to the contest, declaring Joshua the victor by knockout.

The electrifying showdown left fans in awe as Joshua’s precision and strength proved too much for Ngannou to handle.

Although Ngannou required medical attention post-fight, Joshua’s display of sportsmanship and skill highlighted his status as a formidable force in the world of boxing.

The victory solidifies Joshua’s position as a top heavyweight contender and sets the stage for future thrilling matchups in the world of combat sports.

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South Africa Clinches Africa Cup of Nations Bronze in Penalty Drama Against DR Congo

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In a riveting encounter at the Africa Cup of Nations (AFCON) third-place playoff, South Africa emerged victorious against the Democratic Republic of Congo (DR Congo) in a nail-biting penalty shootout to secure the bronze medal in the prestigious tournament.

The match, which ended in a goalless draw after regulation time, saw South African goalkeeper Ronwen Williams once again emerge as the hero, making crucial saves during the penalty shootout to propel his team to victory.

The DR Congo team displayed commendable resilience throughout the match, creating numerous goal-scoring opportunities and maintaining an attacking threat against the South African defense.

Ultimately, it was South Africa’s Siyanda Xulu who converted the decisive penalty kick, securing the win for Bafana Bafana.

The victory marked South Africa’s perfect record in third-place playoffs, having clinched a similar victory 24 years prior against Tunisia.

The bronze medal victory serves as a testament to South Africa’s resilience and determination in the face of formidable opposition.

As the tournament concludes, the thrilling encounter between South Africa and DR Congo will be remembered as a highlight of the 2024 AFCON edition, showcasing the passion and skill of African football on a grand stage.

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