Chelsea co-owner Todd Boehly is weighing up a potential takeover of The Telegraph newspaper that could see it combined with regional publisher National World.
Boehly, who has co-owned Chelsea alongside US private equity firm Clearlake Capital since May 2022, is seeking a takeover through his investment firm, Eldridge Industries.
National World, via the Independent, has confirmed that they had they had received notice from Boehly’s firm that it was considering making a proposal to acquire the whole company.
Should Eldridge present a formal offer, then it could open up the possibility of a bidding war between them and UK-based Media Concierge Limited, a shareholder in National World, who saw a £65.1million acquisition bid approved by fellow shareholders last week.
Boehly and Eldridge’s interest in The Telegraph, one of the UK’s most recognisable national newspaper titles, dates back to the end of 2024, with the current owners, RedBird IMI looking to sell the Telegraph Media Group business it acquired from the Barclay family.
Its planned takeover was blocked by the UK government over the the firm’s part owners being Manchester City owner Sheikh Mansour bin Zayed al-Nahyan, the vice-president of the UAE.
A partnership with New York-based RedBird Capital Partners, owners of AC Milan and part-owners of Liverpool owners Fenway Sports Group, was announced back in 2023.
That has sparked another sale process, with RedBird IMI having effectively taken control of TMG in 2023 when it repaid owner the Barclay family’s debts, including a £600m loan against the titles.
In October last year, RedBird IMI announced that owner of The New York Sun, Manchester-born Dovid Efune, entered exclusive talks to buy the Telegraph in a deal worth around £550million.
Boehly’s investment in Chelsea is not through Eldridge Industries, but the acquisition of another storied, London-based brand would see his investment footprint in the area increase at a time when the club are eyeing up what the future holds for Stamford Bridge and whether or not they need to consider moving to a new stadium build in London.
"Inside of London it's really complex," Boehly said this week. "It's not like we are building something in a rural environment.
"We have a lot of constituents to make sure we care about. "Certainly the Chelsea fan base is one of them.
"Long term, I think we're going to build something new, and I think we'll figure it out."
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Cole Palmer of Chelsea celebrates scoring his team's second goal from the penalty spot with team mate Jadon Sancho during the Premier League match between Chelsea FC and Brighton & Hove Albion FC at Stamford Bridge on September 28, 2024
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