Todd Boehly: How did he acquire wealth?

Chelsea Football Club has been sold to a consortium led by American investor Todd Boehly, according to the Premier League and the UK Government.

After 19 years of ownership from exiled oligarch Roman Abramovich, Boehly, 48, is leading the group in the record-breaking purchase of England’s third-best team.

The Blues have won 21 trophies, including five Premier League titles and two Champions League titles.

The £4.25 billion buyout comes after months of discussions and will leave Abramovich with no money from the sale because his assets are still frozen as a result of Russia’s invasion of Ukraine.

“Late yesterday night, the UK Government achieved a position where we could grant a license that authorizes the sale of Chelsea Football Club,” the government said in a statement.

“We are now satisfied, after substantial effort, that the whole proceeds of the sale will not benefit Roman Abramovich or any other sanctioned individual,” it stated, guaranteeing that the money would be used to support Ukraine conflict victims.

Todd Boehly has a net worth of £3.6 billion ($4.5 billion) and is the 637th richest person in the planet.

The father of three, who studied Business Administration at the College of William and Mary and the London School of Economics, now lives in Connecticut.

Boehly met his wife Katie while studying at William and Mary, and the couple has subsequently donated an undisclosed sum of money to the university to establish the Boehly Center for Excellence in Finance.

Todd Boehly co-founded investment firm Eldridge Industries in 2015 after leaving Guggenheim Partners’ credit unit as president.

Boehly went to scout a firm named Security Benefit while working for Guggenheim, which his bosses later bought.

He then obtained assets from Guggenheim that were vital in establishing his own company, Eldridge, which today holds a diverse range of properties, including some of Bruce Springsteen’s songwriting rights, the Hollywood Reporter, and sports betting firm DraftKings.

Boehly also owns a minority investment in the Los Angeles Lakers of the NBA and the Los Angeles Dodgers of Major League Baseball.

His tenure with the Los Angeles Dodgers may have provided some insight into what Chelsea fans may expect from their new owner.

The Dodgers spent $1 billion on new players in their first four years under Guggenheim ownership, and went on to win the World Series for the first time in 32 years.