John Terry is reportedly exploring buying Chelsea stake as owner Todd Boehly seeks fresh investment.
WHAT HAPPENED? According to The Telegraph, the former Chelsea captain is part of a group considering the purchase of a 10 per cent stake in the club. This initiative involves fan investment through PrimaryBid, an online platform co-founded by Anand Sambasivan, a Stamford Bridge season ticket holder. It is primarily an investment platform that helps several micro-investors pull together and buy shares in major conglomerates.
This isn't Terry's first foray into Chelsea ownership. He was part of a consortium during the club's previous ownership bid when current co-owners, Todd Boehly and Clearlake Capital, emerged triumphant to purchase Chelsea for £2.5 billion plus £1.75bn in additional commitments.
THE BIGGER PICTURE: It is unclear how the 10 per cent stake would be made available and whether Boehly would reduce his equity to get on board for a new investor. Sources suggest Boehly prefers equity investment to fuel growth, including the new stadium project, Cobham redevelopment and to expand the multi-club model.
Apart from Terry, there is also interest from US-based Ares Management, who had earlier made an offer to the Glazers to get a stake in Manchester United.
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WHAT NEXT? Terry is collaborating with tech businessman Harley Kisberg for this bid to take shape. Now it remains to be seen if the club legend is successful in acquiring a stake in the club which is owned 60 per cent by Clearlake and the remaining equity is divided among Boehly, Hansjorg Wyss and Mark Walter.Read on goal.com