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Todd Boehly

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Todd Boehly
Sporting director of Chelsea Football Club
In office
20 June 2022 – 14 November 2022
Preceded byMarina Granovskaia
Succeeded by
  • Paul Winstanley
  • Laurence Stewart
Chairman of Chelsea Football Club
Assumed office
20 June 2022
Preceded byBruce Buck
Co-owner of Chelsea Football Club
Assumed office
20 June 2022
Preceded byRoman Abramovich
Personal details
Born (1973-09-20) September 20, 1973 (age 50)
United States
Children3
Alma mater
Profession
  • Businessman
  • Investor
Known for

Todd Boehly (/boʊˈɛhliː/; born September 20, 1973) is an American businessman and investor. He is the co-founder, chairman, chief executive officer and controlling member of Eldridge Industries, a holding company[1] headquartered in Greenwich, Connecticut.[2] He is also the interim CEO of the Hollywood Foreign Press Association[3] and co-owner and chairman of Premier League football club Chelsea.[4]

Early life and education

Boehly, whose grandparents emigrated from Germany, attended Landon School in Bethesda, Maryland, graduating in 1991.[5] He was a member of the school's wrestling team, which won I.A.C. championships in both 1990 and 1991.[6] In 2014, Landon named their facilities the Boehly Family Wrestling Room in Boehly's honor.[7]

Boehly graduated from the College of William & Mary in 1996 with a Bachelor of Business Administration in Finance. He also studied at the London School of Economics.[8] While at the London School of Economics, Boehly began working at Citibank and then at CS First Boston.[9]

Career

1996–2015: Early career, Guggenheim Partners

Boehly spent his early career at Credit Suisse First Boston and J.H. Whitney & Company.[10][11] He joined Guggenheim Partners in 2001, where he launched the firm's credit investing business, assumed responsibility of its asset management business, and served as president.[8][10][12]

In early 2013, Boehly led a deal between Time Warner Cable and the Los Angeles Dodgers of Major League Baseball to create SportsNet LA, a regional network to broadcast all Dodgers’ games and Dodgers-related programming. Broadcasting from the team-owned network began with the 2014 baseball season.[13][14][15][16][17]

2015–present: Founding Eldridge, investment career

In 2015, Boehly bought some of the assets he had collected at Guggenheim, including The Hollywood Reporter, Dick Clark Productions, and Security Benefit to found Eldridge, a private holding company which invests in various industries.[5][18] In addition to Greenwich, Eldridge also has offices in New York, London and Beverly Hills.[19]

Boehly is on the boards of Cain International, Kennedy Wilson, PayActiv, Vivid Seats, Viral Nation, Accelerant, CAIS, Horizon Acquisition I, and Horizon Acquisition Corporation II.[20][21] He was formerly on the board of Truebill.[22]

Boehly's firm Eldridge owns Security Benefit Life Insurance,[5] and SE2, a technology platform for insurance companies.[18] As CEO, chairman and co-founder of Eldridge, he invested in Clearcover Insurance,[9] and DPL Financial Advisors, an RIA insurance network.[23] His real estate investments include Cain International, a real estate firm co-owned by Eldridge, Kennedy Wilson and Langdon Park Capital.[24][25][26] He helped found European real investment firm Blackbrook Capital.[27]

Boehly has invested in the digital technology industry, including companies such as Gopuff,[28] Stash,[29] Wealthsimple,[30] Dataminr, AI security company AnyVision, digital health platform Wellthy, Truebill, and Tripledot Studios.[31][32][33][34] He acquired data technology company Knoema through Eldridge in 2020.[35]

Boehly has invested in the hospitality group Aurify Brands, which owns restaurant chains such as Le Pain Quotidien.[36] He also invested in Chuck E. Cheese.[37]

Boehly's Eldridge owns Stonebriar Commercial Finance, a large ticket commercial finance and leasing company,[38] and seeded Essential Properties Realty Trust.[39] Some of Eldridge's credit management operations were spun out in 2021 to create Panagram Structured Asset Management. Eldridge co-founded CBAM Partners, an SEC-registered investment advisor. It was sold to The Carlyle Group for $787 million in 2022.[40]

Sports

Boehly owns 20% of the Los Angeles Dodgers and is also a part owner of the Los Angeles Sparks.[41][5] He is an owner of fantasy sports company DraftKings and esports organization Cloud9.[42][43]

In 2019, Boehly made an attempt to buy the English football club Chelsea for $3 billion, but the owner at the time, Russian billionaire tycoon, Roman Abramovich, rejected the takeover bid.[44] In March 2022, alongside Mark Walter, Hansjörg Wyss and Clearlake Capital, he launched a bid to buy the club from Abramovich, who had announced an intention to sell it amid the Russian invasion of Ukraine. On May 6, 2022, Chelsea confirmed that the bid had been accepted and would be finalized by the end of the month.[45][46] The bid was approved by the UK and Portuguese governments, Premier League, and the European Union, because of Abramovich’s Portuguese citizenship.[47][48][49][50] On May 30, the takeover of the club was completed.[51] Boehly was named chairman and interim sporting director of Chelsea on June 20, 2022, after Bruce Buck stepped down.[52] On January 9, 2023, Boehly stepped down as the interim sporting director of Chelsea.[53][54]

Boehly and Walter acquired a 27% stake in the Los Angeles Lakers from Philip Anschutz in July 2021.[55][56] As of February 2021, the Lakers were third-highest valued team in the NBA, with an estimated value of $5.14 billion.[57]

In October 2021, Boehly spoke at SporticoLive's "Invest in Sports" summit to discuss the sports industry and investment in professional sports.[58]

On December 14, 2021, it was announced that Boehly was heading an ownership group in exclusive negotiations to purchase a controlling interest in the Washington Spirit.[59][60] On January 12, 2022, it was reported that Boehly had withdrawn from negotiations to purchase the team.[61]

Media and entertainment

Boehly is Chairman of MRC.[62][63] MRC has invested in A24 and Fulwell 73.[64][5] In September 2020, it was announced that Boehly's MRC and Penske Media Corporation were merging as part of a joint venture to manage their publications, including Billboard, Rolling Stone, The Hollywood Reporter, Variety and Music Business Worldwide.[65] MRC and Penske announced plans to manage content such as television series, films, and live events through a second joint venture.[66] In 2021, the venture became the majority owner of South by Southwest.[67]

Eldridge and MRC reached an agreement to split their assets as separate entities in 2022.[68] As part of the agreement, Eldridge became a minority stakeholder in MRC, maintaining ownership of Dick Clark Productions from the company, and retained Boehly's investments in ventures such as A24, Fulwell 73, and Penske Media, including the Billboard-Hollywood Reporter Media Group, Luminate Data and South by Southwest.[69]

Boehly led a $3 million investment round for fan engagement platform Laylo.[70]

In October 2021, he was named the interim CEO of the Hollywood Foreign Press Association.[71] In 2022, Eldridge acquired the HFPA, and announced plans to create a for-profit entity to manage the Golden Globe Awards' intellectual property, as well as a nonprofit entity to manage the HFPA's philanthropic efforts.[72]

In April 2022, Boehly led a $250 million investment round in Canadian Influencer Marketing and technology company, Viral Nation.[73]

Reception

Boehly was listed on Los Angeles Business Journal's list of the 500 most influential people from 2017 to 2021.[8][74] In 2022, he was included on the Forbes 400 list.[75]

Philanthropy

Boehly helped found the Boehly Center for Excellence in Finance in 2014 at William & Mary's Raymond A. Mason School of Business with his wife Katie Boehly via a multi-year gift.[76][77] They also sponsor the yearly women's Stock Pitch and Leadership Summit at William & Mary. In 2020, Boehly and Katie committed funding to the construction of a new athletic complex and sports performance center at the college.[78] They were honorary co-chairs of a $55 million campaign to fund William & Mary Athletics in 2021.[79]

In January 2021, Boehly partnered with William & Mary to produce a series of courses for students at the Boehly Center for Excellence in Finance.[80]

He is also actively involved with various organizations, including Finding a Cure for Epilepsy and Seizures (FACES), the Brunswick School, the Prostate Cancer Foundation, and Focused Ultrasound Foundation.[81][11][77][82]

References

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  2. ^ "Todd Boehly". Bloomberg L.P. Retrieved September 3, 2018.
  3. ^ Gardner, Chris (October 1, 2021). "Todd Boehly Named Interim CEO of Hollywood Foreign Press Association". The Hollywood Reporter. Retrieved November 22, 2021.
  4. ^ "Consortium led by Todd Boehly and Clearlake Capital completes acquisition of Chelsea Football Club". Chelsea F.C. Retrieved May 30, 2022.
  5. ^ a b c d e "Former Guggenheim President Todd Boehly Is Growing His Investment Empire, From the Dodgers to Collateralized Loans". Barron's. April 12, 2019.
  6. ^ "Championships - Landon School | Private School in Washington, D.C., Area". Landon.net. Retrieved July 4, 2020.
  7. ^ "Wrestling room dedicated to Todd Boehly '91". Landon School. May 20, 2014.
  8. ^ a b c "LA 500: Todd Boehly". Los Angeles Business Journal. August 14, 2017.
  9. ^ a b "Influencers with Andy Serwer: Todd Boehly". news.yahoo.com. Retrieved September 11, 2021.
  10. ^ a b Todd Spangler (March 26, 2015). "Guggenheim Partners Says President Todd Boehly Is Exploring Forming His Own Company". Variety.
  11. ^ a b Dan Duray (June 24, 2013). "Todd Boehly and Alexander Nemerov Join Guggenheim Foundation Board". Observer.
  12. ^ Scott Austin (March 28, 2012). "Who Are the New Dodgers Owners?". The Wall Street Journal.
  13. ^ Finke, Nikki (November 25, 2012). "EXCLUSIVE: Fox Closing In On Dodgers' TV Rights; 'We're Out' If Not Done By Nov. 30". Deadline. Retrieved October 1, 2020.
  14. ^ Shaikin, Bill (January 28, 2013). "Dodgers officially announce deal with Time Warner Cable". Los Angeles Times. Retrieved October 1, 2020.{{cite web}}: CS1 maint: url-status (link)
  15. ^ Wells, Adam. "Dodgers Announce New TV Network SportsNet LA Starting in 2014 Season". Bleacher Report. Retrieved October 1, 2020.
  16. ^ Ozanian, Mike. "Dodgers Exploring TV Deal With Dick Clark Productions". Forbes. Retrieved October 1, 2020.
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  18. ^ a b "From CLOs to 'Ozark,' Ex-Guggenheim President Builds an Empire". Bloomberg.com. September 9, 2019. Retrieved April 28, 2021.
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  28. ^ Smythe, Laura (March 23, 2021). "Philadelphia unicorn goPuff hits $8.9B valuation after new $1.1B fundraising round". Bizjournals.com. Retrieved May 10, 2021.{{cite web}}: CS1 maint: url-status (link)
  29. ^ Rooney, Kate (February 3, 2021). "Investing app Stash raises $125 million as it looks to add new customers — just not day traders". CNBC. Retrieved September 11, 2021.
  30. ^ "Portag3 Ventures closes $320 million second fund focused on fintech investment". TechCrunch. Retrieved September 13, 2021.
  31. ^ "Why is Microsoft looking to acquire Discord?". Fortune. Retrieved May 10, 2021.
  32. ^ "AnyVision: Access Point AI-Based Physical Security". Pymnts.com. July 7, 2021. Retrieved September 13, 2021.
  33. ^ "Wellthy Secures $35 Million in Series B Funding to Support Companies and Employees with Return to Work". TecHR. June 28, 2021. Retrieved September 13, 2021.
  34. ^ "Tripledot raises $78 million for London-based mobile game studio". VentureBeat. April 8, 2021. Retrieved May 10, 2021.
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  36. ^ Ewen, Beth. "Aurify Rescues Two Chains From Distress Amid Pandemic 'Disaster' in NYC". franchisetimes.com. Retrieved May 10, 2021.
  37. ^ "Boehly's Eldridge Finds Opportunities in Pandemic-Hit Companies". news.bloomberglaw.com. Retrieved May 10, 2021.
  38. ^ "Stonebriar Commercial Finance Closes $325MM Term Loan to Overseas Shipholding Group - News | ABL Advisor". Abladvisor.com. Retrieved September 5, 2022.
  39. ^ "'Retail Apocalypse' Didn't Scare This Landlord Off an IPO". Bloomberg.com. June 21, 2018. Retrieved September 5, 2022.
  40. ^ "First Eagle to Buy Napier Park in Latest CLO Business Merger". Bloomberg.com. March 30, 2022. Retrieved September 5, 2022.
  41. ^ Melissa Rohlin (February 4, 2014). "Fast-Food Roundup: Pizza Hut Museum…. Papa John's tests beer delivery... Restaurant survey reveals some surprises". Los Angeles Times.
  42. ^ "Los Angeles Dodgers co-owner Todd Boehly launches third SPAC". SeekingAlpha. Retrieved May 4, 2021.
  43. ^ "Todd Boehly Net Worth (2021)". Wallmine.com. Retrieved May 4, 2021.
  44. ^ Castro, Erwin (December 12, 2019). "LA Dodgers Owner Todd Boehly Makes a Monstrous $3B Takeover Bid for Chelsea". Sportskeeda.com. Retrieved August 25, 2020.
  45. ^ "Club statement | Official Site | Chelsea Football Club". ChelseaFC. Retrieved May 7, 2022.
  46. ^ Roan, Dan (May 24, 2022). "Chelsea: Premier League approves takeover deal from Todd Boehly consortium". BBC. Retrieved May 24, 2022.
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  50. ^ "Premier League statement". Premierleague.com. Retrieved May 28, 2022.
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  53. ^ Law, Matt (January 9, 2023). "Todd Boehly stands down as Chelsea's interim sporting director". The Telegraph. ISSN 0307-1235. Retrieved January 9, 2023.
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  58. ^ Jackson, Eric (October 28, 2021). "Boehly, Execs Share Insights on Growth at 'Invest in Sports' Event". Sportico.com. Retrieved November 22, 2021.
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  62. ^ Ryan Faughder (February 1, 2018). "'House of Cards' producer MRC merges with Dick Clark Productions and Hollywood Reporter publisher". Los Angeles Times.
  63. ^ Tony Maglio (February 1, 2018). "THR to Combine With Dick Clark Productions, 'House of Cards' Studio in New Todd Boehly Banner". TheWrap.
  64. ^ "Billboard Boss John Amato Exits". Music Business Worldwide. July 11, 2018.
  65. ^ Yoo, Noah (September 23, 2020). "Rolling Stone, Billboard, Vibe, More to Operate Under New Joint Venture PMRC". Pitchfork. Retrieved April 27, 2021.
  66. ^ "Penske Media, MRC Launch New Joint Venture to House Chart-Powering Data Firms". Billboard. Retrieved May 14, 2021.
  67. ^ "Billboard Parent Company MRC Teams With Penske Media for Publishing and Content Ventures". Billboard.com. September 23, 2020. Retrieved September 5, 2022.
  68. ^ Earl, William (August 5, 2022). "MRC Chiefs Modi Wiczyk and Asif Satchu Part Ways With Eldridge, PMRC Joint Venture". Variety. Retrieved November 14, 2022.
  69. ^ "Inside the Todd Boehly-MRC Breakup (Exclusive)". Thewrap.com. September 6, 2022. Retrieved November 14, 2022.
  70. ^ "Laylo Raises $3 Million From Eldridge-Led Group | Los Angeles Business Journal". Labusinessjournal.com. July 27, 2021. Retrieved September 11, 2021.
  71. ^ Lang, Brent (October 1, 2021). "Todd Boehly Named Interim CEO of Hollywood Foreign Press Association (EXCLUSIVE)". Variety. Retrieved November 22, 2021.{{cite web}}: CS1 maint: url-status (link)
  72. ^ D'Alessandro, Anthony (July 28, 2022). "HFPA Will Be Both A Private Company & Non-Profit". Deadline. Retrieved November 14, 2022.
  73. ^ "Todd Boehly's Eldridge Bets on Digital Media Firm Viral Nation". Bloomberg.com. April 12, 2022. Retrieved February 4, 2023.
  74. ^ Citations:
  75. ^ "#6 - Todd Boehly". Forbes. Retrieved November 14, 2022.
  76. ^ "About Us & Our History". Mason School of Business. Retrieved September 3, 2018.
  77. ^ a b "W&M receives gift to fund new finance center in Business School". College of William & Mary. November 13, 2014.
  78. ^ "W&M announces Kaplan Arena revitalization and new Sports Performance Center". advancement.wm.edu. Retrieved July 5, 2020.
  79. ^ "William & Mary launches $55-million campaign for Tribe Athletics". Wtkr.com. March 25, 2021. Retrieved April 16, 2021.
  80. ^ "Eldridge Partners with William & Mary to Develop New Course Offerings for The Boehly Center". mason.wm.edu. Retrieved September 11, 2021.
  81. ^ "Todd L. Boehly - Co-founder, Chairman & CEO at Eldridge". THE ORG. Retrieved April 27, 2021.
  82. ^ "Todd Boehly". Milken Institute. May 22, 2019.
Business positions
Preceded by Chelsea F.C. chairman
2022– 		Succeeded by
Incumbent
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