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Chelsea Takeover to be Completed Today

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Chelsea FC

Chelsea Football Club has confirmed that the £4.25bn Todd Boehly-led takeover will be completed today, Monday. 

Investors King recalls that the English Premier League approved the official takeover of Chelsea Football Club at the rate of $5.33bn. The sale will put an end to Roman Abramovich’s almost 20-year tenure as the owner of the London club. 

A statement from the club on Saturday said: “Chelsea Football Club can confirm that a final and definitive agreement was entered into last night to sell the club to the Todd Boehly/Clearlake Capital consortium. “It is expected that the transaction will be completed on Monday. The club will update further at that time.”

After Chelsea was put up for sale on 2 March, the Boehly-led bid secured a £4.25bn deal following a two-month-long process, largely financed by US private equity firm Clearlake Capital.

This is coming after the Roman Abramovich said in a farewell statement on the Chelsea website that “It has been an honour of a lifetime to be a part of this club – I would like to thank all the club’s past and current players, staff, and of course fans for these incredible years. 

“My goal has been to ensure that the next owner has a mindset that will enable success for the men’s and women’s team, as well as the will and drive to continue developing other key aspects of the club, such as the academy and the vital work of Chelsea Foundation.”

He added that he is pleased that the search has now come to a successful conclusion. “As I hand over Chelsea to its new custodians, I would like to wish them the best of success, both on and off the pitch,” the Russian billionaire said. 

The United Kingdom government said in a statement that it had “reached a position where it could issue a licence that permits the sale” of the club. 

Culture Secretary, Nadine Dorries said, “We are satisfied the proceeds of the sale will not benefit Roman Abramovich or other sanctioned individuals.”

Meanwhile, a media outfit had reported that the terms of the takeover would prevent Mr. Boehly and his fellow investors from paying dividends or taking management fees for a decade.

Also, the new owners will be prohibited from selling any shares in the club for 10 years, as well as agreeing to strict limits on the level of debt that they can take on. C

Sport Business

MultiChoice Introduces Special World Cup Package on GOtv

The package named “Jolli YaQatar” was launched today and it comes with a new discount offer

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Multichoice Nigeria - Investors King

The mother brand of GOtv, MultiChoice has introduced a special world cup package for GOtv subscribers.

The package named “Jolli YaQatar” was launched today and it comes with a new discount offer, Investors King learnt. 

According to a statement released by MultiChoice, the decoder and one-month subscription which was previously N6,900 will now be available for N4,900.

“Starting from Saturday, November 26, customers can get a GOtv decoder at just N4,900 instead of N6,900,” the statement read.

Additionally, all matches of the FIFA World Cup are now available to GOtv customers on Supa, Max, and Jolli packages.

MultiChoice Nigeria’s Chief Executive Officer, John Ugbe, noted that the special package will enable more Nigerian families to enjoy the ongoing FIFA World Cup in Qatar. 

He added that the company has included more channels to capture all moments at the ongoing world cup in Qatar. 

“This special World Cup price offer will allow more Nigerians access to live matches and show-stopping moments at the ongoing FIFA World Cup. To further drive this, we have extended more World Cup dedicated channels to every customer,” he said.

GOtv is one of the most popular pay-per-view television service providers in Nigeria. 

Apart from being relatively affordable, it has a lot of exciting channels which include Africa Magic Urban, Honey, SuperSport, WWE, SuperSport channels, KIX, StarLife, Cartoon Network, ESPN, Zee World, TeleMundo, CNN International, Al Jazeera, Discovery Family, B4U Movies, TNT Africa.

Others include MTV Base, HIP TV,  M-Net Movies 4, ROK, Discovery ID, Nat Geo Wild, Da Vinci Kids, Disney Junior, Nickelodeon, Jim Jam, and a lot more.

In all, GOtv has over 80 exciting channels covering news both local and international, music, sports, documentaries, series, movies, and children’s programmes.

GOtv subscription begins from N1,900 a month on GOtv Jinja, to N2,800 for GOtv Jolli. GOtv Mass monthly subscription goes for N4,150 while the all-round package, GOtv Supa goes for N5,500. 

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Sport Business

Billionaire Jim Ratcliffe to Bid for Manchester United as David Beckham Struggles to Raise Fund

Again, Sir Jim Ratcliffe moves to acquire Manchester United

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Sir Jim Ratcliffe

British richest man, Sir Jim Ratcliffe has launched a bid for Manchester United amid a report that the Glazer family put the Premier League club up for sale. This is the second time Jim Ratcliffe will be aiming to buy the most valuable club in England. 

Investors King learnt that the Glazer family planned to sell the club at a valuation of £5 billion. The 70-year-old has been a lifelong fan of Manchester United. 

While recounting his first attempt to purchase the club, Ratcliffe stated that he planned to submit a bid higher than the club’s valuation. 

Meanwhile, former England captain David Beckham, who spent more than ten years at Manchester United has stated that he is open to holding talks with potential bidders for the club, Financial Times reported. 

This is after it has been reported that the football legend is having difficulty raising the fund. He has however called on other interested investors to join him to bid for the club. 

Reacting to the development, Manchester United shares were up at nearly 19 percent at the opening of market on Wednesday. This is in addition to the 14 percent gain it recorded on Tuesday afternoon. 

In a similar development, Manchester United fans have called for fresh investment and new ownership to boost the title chances of the club after many years of unimpressive performance. 

“Our club needs new investment more than ever. That requires new ownership,” the fans group stated in a statement. 

They added that the fans group should be given the opportunity to have a say in the future of the club.

“Any new ownership structure must embed supporters, including a degree of fan share ownership, in their operating model,” they noted. 

With a record of 20 English League titles, 12 FA Cups, 4 League Cups, 3 European Champions Cups, and 1 FIFA Club World Cup, Manchester United is undoubtedly one of the most successful clubs in the world.

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Sport Business

2022 World Cup: $220 Worth Football Competition Begin on Sunday

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Real Madrid's Portuguese forward Cristia

As the World anticipates the most watched sporting event scheduled to begin on Sunday, the organiser, FIFA, and the host country, Qatar have perfected plans to host the most expensive sporting event in the world so far. 

Investors King learnt that the government of Qatar is spending a sum of $220 billion to host the three weeks event which will kick start in three days with an opening match between the host country, Qatar, and Ecuador at the 60,000-capacity Al Bayt Stadium. 

The last world cup which was held in 2018 and hosted by Russia was valued at $11.6 billion. This represents an increase of about 1800%.

Although the host country, Qatar built a new city, new airports, and new stadiums to host the event, observers however opined that the sum expended toward the event is unnecessary and flamboyant.

Ahead of the event, it was learnt that a number of participating countries have arrived in the Middle East country. 

The United States and Australia are the first teams to arrive for this year’s edition of the FIFA world cup. 

It could be noted that Qatar is the first country in the middle east to host the world cup event while it is the smallest country so far to ever host the world football event. 

Meanwhile, to host a hitch-free event, Qatar has partnered with some countries to ensure utmost security at the sporting event which is expected to attract about 1.6 million visitors. 

Thirteen countries, including the U.S., UK, Turkey, France, Germany, and Pakistan, are sending security personnel to Qatar to bolster security at the World Cup tournament.

The United Kingdom has pledged to send its Royal Navy and Royal Air Force to help secure the sea and air bases during the World Cup. 

Pakistan has sent 500 armed soldiers, Turkey is sending 3,000 riot police officers while the United States Forces have also landed in Doha ahead of the opening event on Sunday. 

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