Ares Management Corporation – one of the groups that were keen on acquiring minority stakes in Manchester United – have provided a £403 million ($500m) capital injection for Chelsea, according to the Financial Times.
The U.S alternative asset manager entered into talks with the Blues in August and were willing to offer investment after the Red Devils failed to respond to their offer.
Ares, alongside Elliot Investment Management, Sixth Street Partners and The Carlyle Group were keen on acquiring minority stakes in Man United in April after Joel and Avram Glazer reportedly opted to secure investment instead of a total sale.
The duo wanted the option so as to remain as Man United owners and were said to be confident of getting the deal done as it could also see the value of the club double over the next decade.
However, Ares and co have moved on as the Glazers have offered no update on their plans to accept a full or partial buyout of the Old Trafford club.
Chelsea have now raised fresh investment from the United States-based investment firm as their owners look for ways to fund a stadium upgrade and build stakes in more football clubs.
Todd Boehly is looking for ways to boost revenue at the Stamford Bridge club having spent over £1 billion on player recruitment since taking over in May 2022.
The preferred equity deal between Chelsea and Ares is a much-needed financial boost, and the club will hope it yields the desired results off and on the pitch.
Ares have invested in Atletico Madrid and Olympique Lyonnais of recent after raising £3bn to invest in sports leagues, teams and media and entertainment companies last September, and Chelsea are now set to benefit after Man United missed out.
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