Todd Boehly with the Conference League trophy with Behdad Eghbali included in a circular inset
(Credit: Imago/Getty Images)
James Murray
Mon 1 December 2025 20:30, UK
Chelsea’s owners are looking to buy another club as part of the plans to expand their multi-club model.
Manchester City have taken the multi-club trend to another level in recent years, with their owners – the City Football Group (CFG) – adding 12 teams to their portfolio alongside Pep Guardiola’s side.
Chelsea were purchased by BlueCo, which is led by Todd Boehly and Clearlake Capital, for £4.25billion from Roman Abramovich in May 2022.
BlueCo then bought a majority stake in French side Strasbourg in the summer of 2023, setting the ownership group’s multi-club model in motion.
It’s now emerged Chelsea’s owners are considering a move to buy Santos, who currently sit 16th in the Brazilian first division.
Chelsea co-owners Todd Boehly and Mark Walter at the Club World Cup
Credit: Imago
Chelsea owners told to agree takeover deal
Former Man City financial adviser Stefan Borson exclusively told Football Insider a deal to buy a Brazilian team would be “perfect” for Chelsea’s owners.
However, it has been suggested BlueCo could have to pay £200million to buy Santos and make any necessary improvements they require.
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Speaking exclusively to Football Insider, Borson said: “I think a lot of people in the game, in the MCO kind of consideration world, what do you want to build in an ideal world in a multi-club organisation, you look at Brazil and you go, ‘That’s perfect because clearly it’s an incredible football nation’.
“Talent-wise, it’s great. There are distressed assets financially that are possibly underutilised. On a slide deck if you’ve got a consultant, they’re going to say, ‘Yeah, you’ve got to get a club in Brazil’, so it makes sense.
“I think if they can, they will. You can understand why they would do that.”
Chelsea
Credit: Getty Images
It is believed BlueCo previously paid around £65m to secure its stake in Strasbourg.
Chelsea owners facing new stadium issue
Meanwhile, Chelsea’s owners are facing an issue around their stadium plans following a new development.
Chelsea are considering whether to leave Stamford Bridge or expand their existing stadium, with Earl’s Court viewed as a possible location for a new facility.
However, Hammersmith and Fulham Council – one of the local authorities involved in the decision-making process – green lighted an alternative plan for the site at a meeting on 26 November.
The proposal, which has been put forward by the Earl’s Court Development Company, is for a £10bn housing and retail project.
Chelsea, Todd Boehly
Credit: Getty Images
The Blues’ owners now need to decide on their next steps after the situation has been ongoing for several years.
It is understood an expansion of Stamford Bridge is the most likely option for Chelsea at this moment in time.
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