Bidding For Chelsea Amid Russian Fallout

Sports & Leisure

Chelsea Football Club patch on a jersey
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Josh Harris, the billionaire co-founder of Apollo Global Management Inc., is considering a bid for Chelsea Football Club, according to a person familiar with the matter.  Harris, who has a $7.6 billion fortune, is also looking at bidding on the NFL’s Denver Broncos, Bloomberg News reported last month.  He’s already a minority owner of the league’s Pittsburgh Steelers and has stakes in the NBA’s Philadelphia 76ers, the NHL’s New Jersey Devils and Crystal Palace FC of the English Premier League.  Current Chelsea owner, Russian billionaire Roman Abramovich, said last week that he would sell the team after almost two decades of ownership amid scrutiny over his ties to Russia after the country’s invasion of Ukraine.  He said the net proceeds would go to a charitable foundation that would be “for the benefit of all victims of the war.”  In addition to Mr. Harris, New York Jets owner, Woody Johnson, is also preparing to submit a bid for Chelsea, ESPN reported Monday.  Mr. Johnson has a net worth of $5.7 billion, according to the Bloomberg Billionaires Index.

Source: Financial Times

Posted by Jeff A. Cheek
March 9, 2022
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