20 September 2023 , 17:00
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US investment firm Ares Management is in talks over a staggering $500m (£403million) investment in Chelsea, according to a report from ESPN.
The deal, which is close to being agreed, will help to finance the Premier League side's proposed stadium expansion with a view to upgrade Stamford Bridge's current 40,343 capacity.
The project to upgrade the stadium will be worth around £2billion and has taken new steps in recent weeks after the club agreed a deal in principle to buy a 1.2 acre plot of land next to the stadium belonging to Stoll - a provider of homes for military veterans.
But just what is known about Ares Management who are fronting almost a quarter of the money?
The company, founded back in 1997, works to ' pursue investment activities in leveraged loans, high yield bonds, private debt, private equity and other types of investments,' according to their website. In layman's terms, the business works to invest money in clients, such as Chelsea, with a view to earning both parties more money later down the line.
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The business is clearly successful at what they do having £304bn in assets under management to their name, according to their website. Ares also boasts a team of around 2,600 employees across 35 global offices.
The investment into the stadium should come as little surprise to fans. Chelsea's American owner and investor, Todd Boehly stipulated that £1.75 billion would be invested in "further investment for the benefit of the club" after he agreed a £4.25bn deal to buy Chelsea from Roman Abramovich last year.
The money will be a welcome relief to Boehly who has splashed the cash in recent transfer windows. Since arriving at the Premier League outfit Boehly has agreed lucrative deals to sign 25 players with an overall cost of around £900m.
Todd Boehly has spent almost £1 billion since taking over Chelsea last year (Photo by Shaun Botterill/Getty Images)Players such as Moises Caicedo at £115m, Enzo Fernandez at £106m and the £90m on Mykhailo Mudryk have gone a long way to add to the staggering total. But sadly for fans little has changed on the pitch.
Last season the Blues endured a difficult Premier League campaign ending the season in 12th place - 17 points off a spot to qualify European football.
Now under the management of Mauricio Pochettino, the team are still yet to find their groove this season. Chelsea have won just a single game in their opening five fixtures, against newly promoted Luton Town, and have seen disappointing defeats to West Ham and Nottingham Forest.
Chelsea will be hoping the news of the investment will change their fortunes as they welcome in-form Aston Villa next on Sunday, September 24.