Chelsea Owners Buy French Ligue 1 Club Strasbourg

The American owners of English Premier League giants Chelsea agreed to buy out the French Ligue 1 club Strasbourg on Thursday.

Chelsea’s first year was a disaster for the partnership managed by American billionaire Todd Boehly and US-based Clearlake Capital.

They fired managers Thomas Tuchel and Graham Potter before a disastrous season under interim manager Frank Lampard.

Chelsea finished 12th, their lowest result since 1994, despite spending more than £500 million ($624 million) on new players in the new owners’ first two transfer windows.

Mauricio Pochettino has since been appointed as their new manager.

Boehly is also a co-owner of the Los Angeles Dodgers baseball franchise, and the consortium owns a stake in the Los Angeles Lakers, an NBA powerhouse.

Strasbourg struggled last season, ending just two places and five points above the relegation zone.

They had finished sixth just a year before.

According to AFP, the US group has purchased nearly all of the Strasbourg club’s shares.

He was unable, however, to reveal the full sum of the transaction.

After Marseille, Lyon, Toulouse, and Le Havre, Strasbourg is the fifth Ligue 1 club to be purchased by an American.

“It’s an important day for Strasbourg,” said Keller.

“We have built a healthy, well-managed club at all levels.”

“But we were aware that we had reached the ceiling of our model, and that if we wanted to continue to advance the club into a new dimension, we had to be accompanied by a solid structure capable of supporting our development and our ambition.”

He added: “I, therefore, welcome a new strategic investor, with whom we will accelerate the club’s ambition to build the Strasbourg of tomorrow.”

A source at the club said there “will be no affiliation with Chelsea.”

“There will be a common shareholder but separate sports departments. There may be collaborations but that will not be the priority.”

Supporters had feared that Strasbourg, declared bankrupt in 2011 and demoted to the fifth division, would become just a farm team for Chelsea.

“The new majority shareholders are investing in Marc Keller’s project to give him the means to progress,” added the source.

“If Strasbourg does nothing, the club will drop in the hierarchy. We must therefore take preventive measures today to allow the club to maintain its place.”