If true, the Boehly group, which paid GBP4.3 billion ($6.6 billion) for the football club, is sitting on a cash cow. Ravitch’s rainmaking deal history gives little cause to doubt this prediction.
Raine Group made international headlines earlier this year when it brokered the sale of Chelsea Football Club after former owner Roman Abramovich put the club on the market in anticipation of UK government sanctions on Russian oligarchs.
Before the deal was made final to a consortium led by American financier Todd Boehly, Raine co-founder Joe Ravitch was quoted as saying that the next owner of the English club would be “getting it for a steal”. He estimated that Chelsea and other top Premier League clubs would be worth over US$10 billion ($14.3 billion) in five years.
