Chelsea to blame for lack of new US owners in Premier League

Rich Americans have been looking to invest massive amounts of money into Premier League clubs for years. Nearly half of the teams in the English division have some form of American ownership. Burnley also has investors from the United States as well, but the Clarets were recently relegated to the Championship.

Everton will likely become the latest Premier League side to be controlled by an American businessman. However, John Textor, the investor currently in talks with the Toffees, already owns a piece of Crystal Palace. He must sell his minority share in the Eagles before officially taking over Everton in the near future.

While American investors have flocked to the Premier League over the last two decades, interest has undoubtedly simmered down lately. Owners of several English top-flight teams have been attempting to sell minority shares in recent months. This list, according to Bloomberg, includes Tottenham Hotspur, Brentford, Wolves, and West Ham. Recently relegated Sheffield United has also been up for sale for around a year as well.

Chelsea owners have distorted the market after mismanaging investment

In years past, wealthy Americans would have likely jumped on these business opportunities. There are multiple factors as to why investors from the States are hesitant to splash cash into Premier League clubs. Top English teams have essentially become overpriced, and the league is so competitive that it is difficult to limit costs.

However, a significant deterrent has been the recent developments at Chelsea. A group led by American billionaire Todd Boehly purchased the Blues for over $5 billion in the summer of 2022. The west London side had been one of the top soccer clubs in all of Europe in the 20 years before Boehly entered the fray. Nevertheless, the team is now struggling both on the pitch and off.

Along with shelling out huge amounts of money to buy Chelsea, Boehly and company have also completely revamped the club’s roster….

Source link : https://worldsoccertalk.com/news/chelsea-to-blame-for-lack-of-new-us-owners-in-premier-league/

Author : Chris Moore

Publish date : 2024-08-21 21:01:35

Copyright for syndicated content belongs to the linked Source.