Chelsea buyer Todd Boehly owns shares in betting company that STILL operates in Russia
EXCLUSIVE: LA Dodgers owner Todd Boehly – one of the main candidates in the £3bn battle to buy Chelsea from Roman Abramovich – has a £120m stake in Russia… but the involvement of the American billionaire is not significant
- Todd Boehly paid around £120m last September to buy shares in Sportradar AG
- The company still operates in Russia after the invasion of Ukraine
- The majority of betting companies have suspended their operations in Russia
- Sources close to Boehly said his stake in Sportsradar was not significant
Todd Boehly, owner of the LA Dodgers, is a shareholder in a betting company that still operates in Russia.
The US billionaire paid around £120m through his investment vehicle Eldridge Industries last September to buy shares in Sportradar AG, a sports data and gambling company that has bucked the global trend to cease business activities in Russia after the invasion of Ukraine.
Like most global companies, including industry giants such as Apple and Starbucks, the majority of betting companies have suspended operations in Russia following the imposition of economic sanctions by Western governments.
Major US companies such as DraftKings and Caesars have stopped offering markets on Russian events, and data providers like Genius Sports have pulled out. Sportradar, however, still operates in the country.
Sources close to Boehly said sports mail that its stake in Sportradar was not significant and that it had no plans to add to it despite an earlier merger attempt through its special purpose acquisition company, Horizon Acquisition.
Sportradar suspended new investments in Russia after the war in Ukraine, but has yet to withdraw from the market completely.
LA Dodgers owner Todd Boehly is a shareholder in a betting company that still operates in Russia
Shortlisted Chelsea bidder paid around £120m to buy shares in Sportradar AG last year
Additionally, the company’s managing director, Carsten Koerl, owns shares in a company that owns a Russian sports betting company, although he has no operational responsibility.
“Sportradar has announced that we will be suspending all new investments in Russia, including signing new clients. We continue to abide by all sanctions,” a spokesperson said. sports mail.
“Our thoughts are with those affected by the heartbreaking events in Ukraine, and our top priority has been to help keep our employees and their families safe in the region.
Sportsradar suspended new investments in Russia after the war in Ukraine
“We have established an emergency relief fund to provide financial assistance to colleagues and their families.
“In addition, we have donated $1 million to global charities, the Red Cross and UNICEF, to be used for dedicated humanitarian assistance in the affected region.
“We stand in solidarity with all who want peace and will continue to support those affected by these tragic events.”
Boehly is on a shortlist of four candidates to buy the club and faces competition from the Ricketts family, Sir Martin Broughton and Stephen Pagliuca. The deadline for final offers is April 11.
Boehly is on a shortlist of four bids to buy the west London club and faces competition from the Ricketts family