
When American businessman Todd Boehly bought Chelsea in 2022, it was one of the most high profile football club takeovers in recent memory.
Former owner Roman Abramovich was financially sanctioned due to his involvement with the Russian government, this paved the way for another individual to take the reigns of Chelsea. It took a while for The Blues to find a suitable owner and it was eventually announced that a consortium headed by Boehly would take over the London based club.
The consortium was named BlueCo and is led by Boehly, Hansjorg Wyss and Mark Walter. The £4.25 billion takeover was approved by the British government in May 2022.
The ownership of the club quickly became very different to what had been experienced under Abramovich previously. From Summer 2022, Chelsea began buying players like it was no tomorrow.
In the first transfer window under Boehly, they spent €630.25 million. Including €121 million on Benfica midfielder Enzo Fernandez.
The BlueCo consortium would then decide a year later that they would introduce a multi-club model, and bought French side Strasbourg for €75 million on 22 June 2023. It was reported this was a 100% stake in the club.
Official: BlueCo signed an agreement to become new shareholders of French side Strasbourg. 🔵🇫🇷
— Fabrizio Romano (@FabrizioRomano) June 22, 2023
Marc Keller remains as president. pic.twitter.com/GoydmjlRvM
This takeover would then change the business operations between both of the clubs and is now an example of the many multi-club ownerships that now exist in European football.
When BlueCo took over Strasbourg they made a statement:
'This strategic investment would further our presence in European football, alongside our ownership of Chelsea. We believe it would create huge opportunities to share knowledge and expertise.'
Since then, it can be said they have certainly achieved the goals they had set out with the multi-club model.
Both clubs seem to be flourishing at the moment, Chelsea have just won the Club World Cup and Strasbourg finished 7th in Ligue 1 last season, which earned them Europa Conference League qualification.
The two clubs can easily share their talent, and now they have a great footprint in European football.
Since Todd Boehly and his consortium have bought Strasbourg, the two clubs have shared many players with each other, many being loans and a few permanent signings.
Here are a few that have made the move from England to France, or vice-versa:
The French centre-back moved to Chelsea from Strasbourg on 9th June 2025 after an impressive season in Ligue 1.
His most impressive asset as a centre-back is his ability to play out from the back. Last season in Ligue 1, he completed 93.8% of his 64 attempted passes, according to FBREF.
This could be suited to how Enzo Maresca likes to play, possession based football with a slow build-up from the back.
He's one for the future at 19 years old and it has yet to be seen if this signing will show a positive spotlight on the multi-club model.
Mamadou Sarr #FIFACWC pic.twitter.com/uAy0OcyO2s
— CFC Pics (@Mohxmmad) June 15, 2025
The Portuguese left-back never made an appearance for Chelsea, but had a mixed experience on loan at Lyon in the 2023-24 season. Strasbourg decided to take a punt on him and signed him from Chelsea in summer 2024 for £1.7m.
Last season he had a highly successful campaign for Strasbourg as he helped them achieve European football. From left-back, he provided 0.25 assists and made 3.47 progressive carries per 90, as per FBREF.
This is a great example of how a player has gone from Chelsea not making an impact, but has gone to Strasbourg and has made a great impact.
🇵🇹💎 Diego Moreira vs Top 7 League U21 Full-backs
— DataMB (@DataMB_) July 23, 2025
🥇 Most assists
🥇 Most expected assists
🥇 Most key passes
🥇 Most goals + assists
🥇 Most progressive carries
🥇 Most accelerations
🥇 Most dribbles attempted
🥇 Most offensive duels
👉 https://t.co/OJslME9MWP pic.twitter.com/AupQwfeXhU
A player who has been in the news recently, with his £25 million move from Chelsea to Bournemouth.
The main reason for this move was Petrovic's performances for Strasbourg last season. He kept 10 clean sheets and only conceded 38 goals in Ligue 1.
Petrovic highly benefitted both parties. He netted a considerable profit for Chelsea, and had an impressive season for Strasbourg which saw them finish 7th.
Dorde Petrovic 📸 pic.twitter.com/mAjyi5Ffit
— Chelsea Photos (@ChelseaInPhotos) May 3, 2025
It is obvious that Boehly has a considerable involvement in both clubs, more than most football club owners. He has a huge influence on Chelsea's transfer policy, with larger fees being paid that are spread across long-term contracts.
Meanwhile, with Strasbourg, he also has authority over transfers. Recently, Strasbourg midfielder Habib Diarra joined Sunderland in a move that was decided by Boehly. He seems to have the final say at the French side also.
There are increasing concerns for clubs that are part of a multi-club model. This is after it was recently confirmed that Crystal Palace would drop down to the Europa Conference League due to parent club Lyon being a part of the Europa League.
UEFA has demoted Crystal Palace to the Conference League from the Europa League next season due to multi-club ownership rules.
— B/R Football (@brfootball) July 11, 2025
Palace are set to appeal the decision.
😬📉 pic.twitter.com/WFJxa3GiMw
UEFA's rules state that no one can be involved in the management of more than one club in a UEFA club competition. If two or more clubs don't meet the criteria, only one of them can be admitted into a UEFA club competition.
This poses problems to BlueCo as their two clubs, Chelsea and Strasbourg, will not be able to compete in the same UEFA competition in the future. Could this mean that Boehly and co could limit Strasbourg's potential in the future in order to benefit Chelsea? It remains to be seen but be make sure to look out for this development in the coming months and years.
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