EXCLUSIVE: LA Dodgers owner Todd Boehly – a leading candidate in the £3bn battle to buy Chelsea from Roman Abramovich – has a £120MILLION betting stake in Russia… but American billionaire’s involvement is not significant
- Todd Boehly paid around £120m last September to buy shares in Sportradar AG
- The company are still operating in Russia following the invasion of Ukraine
- The majority of betting companies have suspended operations in Russia
- Sources close to Boehly said his stake in Sportsradar was not significant
One of the front-runners in the battle to buy Chelsea, LA Dodgers owner Todd Boehly, is a shareholder in a betting firm that is still operating in Russia.
The American billionaire paid around £120million 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 trading in Russia following the invasion of Ukraine.
In common with most global corporations, including industry giants such as Apple and Starbucks, the majority of betting companies have suspended operations in Russia following western governments’ imposition of economic sanctions.
Big American firms such as DraftKings and Caesars have stopped offering markets on Russian events, and data providers like Genius Sports have withdrawn. Sportradar, however, are still operating in the country.
Sources close to Boehly told Sportsmail that his stake in Sportradar was not significant and that he has no plans to add to it despite previously attempting a merger through his special purpose acquisition company, Horizon Acquisition.
Sportradar have suspended new investments in Russia following the war in Ukraine, but have yet to fully pull out of the market.
LA Dodgers owner Todd Boehly is a shareholder in a betting firm that is still operating in Russia
The shortlisted Chelsea bidder paid around £120million to buy shares in Sportradar AG last year
In addition the company’s chief executive, Carsten Koerl, has shares in a company that owns a Russian sports betting firm, although he does not have any operational responsibilities.
‘Sportradar has announced we will suspend all new investments in Russia, including signing new customers. We are continuing to comply with all sanctions,’ a spokesperson told Sportsmail.
‘Our thoughts remain with those who have been impacted by the heartbreaking events in Ukraine, and our top priority has been focused on helping ensure the safety of our employees and their families in the region.
Sportsradar have suspended new investments in Russia following the war in Ukraine
‘We have created an emergency relief fund to provide financial assistance to colleagues and their families.
‘In addition, we have donated $1million to global charities the Red Cross and UNICEF to be used for dedicated humanitarian aid in the impacted region.
‘We stand in solidarity with all those who wish for peace and will continue to support those impacted by these tragic events.’
Boehly is on a four-bid shortlist to buy the club and faces competition from the Ricketts family, Sir Martin Broughton and Stephen Pagliuca. The deadline for final bids is April 11.
Boehly is on a four-bid shortlist to buy the west London club and faces competition from the Ricketts family