Chelsea complete £65m takeover of French side Strasbourg as multi-club project begins

Chelsea's owners have agreed to buy a majority stake in French side Strasbourg in a reported £65 million ($83m) takeover.

Todd Boehly and Co. have agreed to take a majority stake in the French club as they begin their efforts to create a multi-club empire. The American, who completed a takeover of the west London side with private equity firm Clearlake Capital in May 2022, has secured a deal for nearly 100 per cent of the Ligue 1 outfit.

Strasbourg President, Marc Keller, told the French club's website: "It's an important day for Racing. It's a reflection that my shareholder friends and I have been carrying out for two years. We have built a healthy club at all levels and [it is] well managed.

 Even if there was no financial emergency, we were aware that we had reached the ceiling of our model, and that if we wanted to continue to advance Racing and project it into a new dimension, we necessarily had to be accompanied by a solid structure capable of supporting our development and our ambition. I, therefore, look forward to welcoming a new strategic investor, with whom we will accelerate the club's ambition to build the Racing of tomorrow."

BlueCo, the Chelsea ownership group, added: “It is an honour for us to be part of this historic club. We are committed to preserving the legacy of Racing and to working closely with Marc [Keller] and his management team to continue the excellent work they have done. This strategic investment would strengthen our presence in European football, alongside our stake in Chelsea. We believe it would create huge opportunities for sharing knowledge and expertise."

Boehly has been keen to build a multi-club model, similar to that of Manchester City, for many months. The City Football Group owns 13 clubs around the world, allowing young players to go out on loan and develop, and Chelsea are eager to do this, too. Boehly has previously spoken about developing “pathways for our young superstars to get on to the Chelsea pitch". Now, Strasbourg may be the conduit for that.

The Chelsea owner is reportedly expected to buy shares in a Portuguese club and more teams could be incorporated into the Stamford Bridge outfit's grand plans.