Chelsea owner Boehly eyes Telegraph in £550m newspaper sale bid

Owner of Chelsea football club, Todd Boehly, has made a late move to acquire The Telegraph, offering to help finance the £550 million acquisition of the 169-year-old British newspaper.

The US billionaire, known for his wide-ranging investments in industries from financial services to technology, has reportedly held talks with The Telegraph about entering the deal.

Sources said Boehly is considering partnering with or replacing US media executive Dovid Efune, who has been in exclusive negotiations to secure the purchase for more than a month.

“Boehly is interested and engaged in conversations,” said a person close to the situation, noting that while Efune remains the preferred bidder, his ability to complete the deal has come under scrutiny due to unclear financial backing.

“He is looking to be involved.”

Efune, publisher of The New York Sun, has until the end of December to finalise his financing consortium, which reportedly involves “dozens of funding parties” through both debt and equity sources.

However, Boehly has also been in discussions with Efune’s team and is believed to prefer pursuing the deal on his own if the opportunity arises.

Boehly’s entry signals a dramatic turn in the protracted 18-month effort to find a permanent owner for The Telegraph.

The paper has been in flux since 2023, when the Barclay family lost control due to mounting debts owed to Lloyds Banking Group.

Questions about the financial stability of Efune’s bid have raised doubts, with some insiders claiming that despite “strong momentum,” assembling the necessary resources has proven challenging.

Boehly’s late involvement has increased speculation about whether Efune can meet the looming deadline.

“Boehly is weighing all options, but the exclusivity period remains a significant hurdle,” one source noted, referring to RedBird’s refusal to engage with new bidders until the exclusivity agreement expires.

Neither Boehly, Efune, nor RedBird IMI provided comments on the latest developments.

The sale, managed by Robey Warshaw and the Raine Group, continues to attract significant attention due to The Telegraph’s prominence as a conservative-leaning British newspaper.