Chelsea FC Owners Are Weighing £250 Million in Extra Borrowing
- Bank of America advising club owners on borrowing options
- Chelsea only recently raised £500 million in debt from Ares
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The owners of Chelsea FC are considering increasing their borrowing by as much as £250 million ($305 million), people with knowledge of the matter said, as they look to continue the free spending that’s defined their short tenure in charge of the English football club.
Bank of America Corp. is advising them as they weigh taking on more debt under existing loan agreements, the people said, asking not to be identified discussing confidential information. Chelsea’s owners already had £800 million in loans in place, with the option of taking the limit on these to £1.05 billion, one of the people said.