America’s Love Affair With Investing in the Premier League Fades
Chelsea’s struggles have spooked some would-be bidders for clubs as US sport looks a better bet again.
Manchester City's Mateo Kovacic scores against former club Chelsea on the opening weekend of the English Premier League at Stamford Bridge in London on Aug. 18.
Photographer: Adrian Dennis/AFP/Getty Images
The Premier League has been a rich hunting ground for Americans over the past two decades, with almost half the 20 clubs under their control as it started a new season. The interest was turbocharged when a group led by billionaire Todd Boehly acquired Chelsea two years ago.
But they’re now souring on English football, according to seven people involved in buying and selling teams. And interest has particularly waned amid Chelsea’s struggles, some of those familiar with the market said. That’s despite spending more than £1 billion ($1.3 billion) on players.