The consortium led by Los Angeles Dodgers part-owner Todd Boehly has been selected as the preferred bidder for Chelsea and has reportedly secured a period of exclusivity as it attempts to complete its multi-billion pound takeover from Roman Abramovich.

Breaking: Los Angeles Dodgers part-owner Todd Boehly is set to enter exclusive talks in the bidding war to acquire Chelsea FC from Russian billionaire Roman Abramovich, people familiar with the matter say https://t.co/7Do1pdO4uq
— The Wall Street Journal (@WSJ) April 29, 2022

It's been another day full of twist and turns at Stamford Bridge. What appeared to be the final three bidders were awaiting a decision from Raine when the news broke that INEOS owner Sir Jim Ratcliffe had submitted a late bid worth £4.25bn for the club.

That offer is believed to have been submitted too late, however, with the Boehly consortium understood to have been told that they will be taken forward as the preferred bidder. That means equally-strong groups fronted by Boston Celtics co-owner Stephen Pagliuca and former Liverpool chairman Sir Martin Broughton look to have missed out.

Chelsea fans will be interested to know who is set to take charge of their club when the takeover is finally complete.

Todd Boehly: Who is he?

Todd Boehly is an American businessman, investor and philanthropist. He is the co-founder, chairman, CEO and controlling member of Eldridge Industries, a holding company headquartered in Greenwich, Connecticut.

Boehly, 46, is married to Katie Boehly and the couple have three sons together – Nick, Zach and Clay.

Boehly went to school in Bethesda, Maryland before crossing the pond to study at the London School of Economics.

How did he make his money?

After working at Citibank and CS First Boston, Boehly moved to Guggenheim Partners in 2001. From here, he launched the firm's credit investing business and went on to become the president of the company.

Todd then fronted a big deal in 2013 between Time Warner Cable and the Los Angeles Dodgers to create SportsNet LA – a network made to broadcast anything in relation to the baseball franchise.

This was a significant step forward for Boehly, but 2015 was the year in which everything changed for the American businessman.

Boehly decided to pool some of the assets he collected at Guggenheim, including The Hollywood Reporter, Dick Clark Productions, and Security Benefit, to found his current firm Eldridge Industries. Once this was established, his fortune continued to accumulate.

On December 14, 2021, it was announced that Boehly was heading an ownership group in exclusive negotiations to purchase a controlling interest in the Washington Spirit.

How much is Todd Boehly worth?

According to Forbes' latest calculations, the current Chelsea bidder is worth in the region of $4.5billion, which works out at around £3.5billion.

Why the LA Dodgers' revival under Todd Boehly could bode well for Chelsea.

By @BryanAGraham https://t.co/98fpSBJgDM
— Guardian sport (@guardian_sport) April 30, 2022

What else does Todd Boehly own?

Well, if his bid for Chelsea is successful, the Blues would become the latest in a long line of sports acquisitions for the American.

Boehly is co-owner of the seven-time MLB World Series winners Los Angeles Dodgers, 17-time NBA champions Los Angeles Lakers and women's basketball team Los Angeles Sparks, so he has plenty of experience running sports teams.

However, his ownership of the Dodgers has been criticised due to the team's high wage bill. His initial investment has also been heavily scrutinised because of the collateral attached to the loan he used to buy his stake in the baseball franchise.

Despite this, he has been selected as the preferred bidder, so Chelsea and the Premier League must feel confident these issues are nothing to worry about.

Who is in the Todd Boehly consortium?

Todd Boehly: Hansjorg Wyss |Sportz Point. — Hansjorg Wyss, another member of the Boehly Consortium. (Image- The New York Times)

Boehly has paired up with fellow Dodgers owner, Mark Walter, British businessman Jonathan Goldstein, Swiss billionaire, Hansjorg, Wyss, and US investment firm Clearlake Capital in their consortium offer for the blues.

The group faced competition from two other suitors, including a late bid from a British businessman, Sir Jim Ratcliffe, which is said to have complicated things after he tabled a bid of more than £4 billion.

Todd Boehly consortium: Mark Walter | Sportz Point. — Mark Walter, Co-owner of Los Angeles Dodgers alongside Todd Boehly (Image-Dodger Blue)

Statement from the Boehly Consortium:

Another member of the consortium, Daniel Finkelstein, released a statement about Boehly's bid: "These are smart guys, who don't just have the money to invest, they get how to use it.

"They understand about data, and they understand about fans. I'm really excited about the plans for fan involvement which I believe in strongly. I want Chelsea to be pioneers."

"I'm passionate about Chelsea to the point of eccentricity. I want owners who will invest but are also insightful and use modern methods to keep our club at the top of the world. I believe Todd Boehly would be just such an owner.

"This is a bid from fervent sports fans, really successful backers of champions. Just look at the LA Dodgers, what they have invested and what they have won."

"Jonathan Goldstein is also a brilliant man and really knows his football. We'd be lucky to have him. And as for Spurs? At Chelsea we sing songs for talented people who see the light and come to the Bridge."The bid knows who we are. It's proper Chels."

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