Chelsea veteran John Terry may become an investor in the team that made him a household name in the sport.
The Telegraph reports that the former England defender wants to buy up to 10 per cent of the club. Terry would be part of an investment group that Todd Boehly approves.
Fans have expressed some discontent with Boehly’s unconventional management style since he took over the team. Blues fans were shocked by his haphazard approach to player acquisition during his first transfer window in charge.
However, recent appointments to key management positions indicate that a broader strategy is now being implemented. The poor reception of the American is due to the poor results since he came to power. Also, he is not Roman Abramovich. The Russian single-handedly financed the club with unprecedented success over the past two decades.
Why is Todd Boehly looking for new investments?
According to the report, fans will be able to comment on the bid through the PrimaryBid website. It is an investment platform that facilitates the pooling of small investments to acquire shares of large corporations. Anand Sambasivan, co-founder and CEO of the platform, is a die-hard Chelsea fan and season ticket holder.
Whether Boehly would reduce his shares to make room for a new investor is unknown, as is the process by which 10 percent ownership would become available. The American owner would prefer to use capital investments to finance initiatives such as the construction of a new stadium, the revitalization of Cobham and the expansion of the club system.
John Terry is not new as an investor in Chelsea
Prior to this, Terry had been a member of a $310 million syndicate that hoped to buy fans a 10 percent stake in the club. When Roman Abramovich put the club up for sale last year, a group of investors formed the consortium.
The True Blues Consortium, which Terry headed, promised fans the opportunity to invest in the team for just $124. The consortium promised to have a Chelsea board member and that supporters who agreed to the program would also have a say in the appointment of that member.
PHOTO: IMAGO / PA Images
2023-09-20 17:13:39
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