REVEALED: Newcastle’s Saudi homeowners Public Funding Fund are main traders in Chelsea’s new majority shareholder Clearlake Capital… because the Blues insist the group had no involvement of their £4.25bn takeover
- Saudi Arabia’s Public Funding Fund bought Newcastle for £350m in 2021
- They’ve additionally invested billions in belongings managed by Clearlake Capital
- Clearlake purchased 60 per cent of Chelsea within the membership’s £4.25 billion takeover
- Chelsea insist there was no Saudi involvement in Clearlake’s buy
Newcastle United’s Saudi homeowners are additionally main traders in Chelsea’s new majority shareholder, Clearlake Capital.
In a revelation that may increase questions over the transparency of the world’s most costly sports activities sale, Sportsmail can disclose that Saudi Arabia’s Public Funding Fund [PIF] have billions of kilos of belongings managed by Clearlake, who purchased 60 per cent of Chelsea in a £4.25billion takeover this summer time.
Chelsea sources insist that there was no Saudi involvement in Clearlake’s buy of the membership, thus assuaging issues over any potential conflicts of curiosity.
The disclosure will increase additional questions over the supply of Clearlake’s funding nonetheless, in addition to highlighting an absence of transparency relating to a unprecedented takeover that was triggered by Roman Abramovich being sanctioned by the federal government following Russia’s invasion of Ukraine.
Clearlake dedicated not less than £2.55bn to Chelsea in a takeover led by LA Dodgers proprietor Todd Boehly, who additionally purchased a stake within the membership alongside together with his enterprise associate Mark Walter and Swiss entrepreneur Hansjorg Wyss.
The American-based non-public fairness agency handle round £60bn of belongings on behalf of round 300 traders globally, together with vital funding from PIF, who paid £350million to purchase Newcastle from Mike Ashley final yr. PIF put money into a number of non-public fairness companies along with Clearlake, a various fund during which not one of the shareholders personal greater than 5 per cent.
Newcastle’s homeowners Saudi Arabia’s Public Funding Fund are main traders in Chelsea’s majority shareholders Clearlake Capital
Clearlake purchased 60 per cent of Chelsea in a £4.25billion takeover this summer time, with Todd Boehly (pictured) – who will not be a part of the group – heading up the membership’s board
Chelsea got contemporary possession after the federal government lastly gave the go forward in Might following sanctions positioned on Russian chief Roman Abramovich
The Premier League have been sufficiently satisfied of the supply of Clearlake’s funding to approve the deal shortly after the federal government lastly gave the go forward in Might.
Chelsea went to some lengths to exhibit that there was no Russian cash concerned within the transaction, however didn’t publicly disclose the truth that Clearlake have Saudi traders.
The Premier League have been broadly criticised for allowing the Saudi takeover of Newcastle regardless of performing on the sturdy recommendation of the federal government.
Chelsea additionally obtained a Saudi bid for the membership following, however the provide from the Saudi Media Group fronted by Mohamed Al-Khereiji didn’t make the membership’s shortlist. Chelsea and the Premier League declined to remark.