The financial potential of Chelsea can be developed even further but the so-called ‘Big Six’ English football clubs will have to contend with the rise of Saudi-backed Newcastle United, according to new Blues owner Todd Boehly.
Boehly and private equity firm Clearlake Capital completed their £4.25 billion ($5.2 billion) takeover of the London club last month, bringing an end to the trophy-laden 19-year reign of owner Roman Abramovich.
The Russian billionaire placed the Blues up for sale shortly before being sanctioned by the UK government for his alleged links to Vladimir Putin.
US financier Boehly is intent on making his mark as the public face of Chelsea’s new owners, and hinted at the direction in which he sees the club – and the English Premier League – moving when he spoke at a Berlin conference this week.
“They don’t realize how big their opportunity is,” Boehly said of the financial potential and global appeal of English football’s top tier, according to The Telegraph. “Let’s get a hold of our destiny and think about how to optimize this.”