<ul class="summary-list"><li>Bids to buy <keyword id="11893972" type="UNKNOWN" weightage="60" keywordseo="chelsea" source="Orion">Chelsea</keyword> FC, the soccer team currently owned by <keyword id="13278280" type="UNKNOWN" weightage="60" keywordseo="roman-abramovich" source="Orion">Roman Abramovich</keyword>, are due by Friday.</li><li>200 parties are interested, though many are not thought to be serious contenders, reports say.</li></ul><ul class="summary-list"></ul>As many as 200 parties have registered an interest in buying Chelsea FC, the London soccer team owned by the billionaire Russian oligarch Roman Abramovich, various UK media outlets reported this week.Abramovich put the club up for sale soon after the Russian invasion of Ukraine, days before he was <a href="https://www.insider.com/chelsea-owner-roman-abramovich-sanctioned-government-cant-sell-3bn-club-2022-3">hit by sanctions from the UK government over his close links to President Vladimir Putin.</a>The oligarch wants a quick sale of the club, though it remains unclear what will happen to the proceeds from any deal, given the UK froze his assets.Bidders interested in buying Chelsea have until Friday to submit their offers to Raine Group, the US bank appointed to oversee the sale. Abramovich is believed to want in excess of $3 billion for the London side, which is the current European and world club champion.<div type="image" title="Chelsea FC defeated Norwich City 3-1 on March 10." height="1249" width="2500" msid="90272293" hostid="261"></div><a href="https://www.dailymail.co.uk/sport/sportsnews/article-10611555/Chelsea-TWO-investors-interested-buying-3bn-Blues-make-CASH-offers.html">The Daily Mail cited</a> sources close to the deal as saying that about 200 different entities had submitted their interest in buying Chelsea.But only a small number of those expressions of interest are being considered serious contenders to buy the club, <a href="https://www.skysports.com/football/news/11095/12566304/chelsea-sale-latest-roman-abramovich-under-discussions-for-eu-sanctions-saudi-araba-deal-would-be-difficult">Sky Sports reported.</a>Among those <a href="https://www.insider.com/chelsea-fc-for-sale-american-owners-want-to-buy-club-2022-3#woody-johnson-4">believed to be submitting bids for Chelsea</a> are the Swiss billionaire Hansjörg Wyss, Los Angeles Lakers co-owner Todd Boehly, and the Ricketts family, who own the Chicago Cubs.Also interested are billionaire the London property developer Nick Candy, New York Jets owner Woody Johnson, and the Ghanaian gold miner Bernard Antwi Boasiako.The Raine Group believes that a deal for Chelsea could be completed by the end of March, <a href="https://www.theguardian.com/football/2022/mar/14/potential-chelsea-owners-in-rush-to-finalise-offers-after-friday-deadline-set">The Guardian reported,</a> with time a crucial factor in the sale following the sanctions against Abramovich.The sanctions effectively bar Chelsea from making and spending money.Other restrictions include <a href="https://www.insider.com/chelsea-request-behind-closed-doors-match-after-abramovich-sanctions-2022-3">bans on ticket and merchandise sales</a>, and <a href="https://www.insider.com/roman-abramovich-sanctions-causing-chelsea-soccer-budget-fears-2022-3">spending caps for travel and matchday expenses.</a>

Oligarch Roman Abramovich's $3 billion London soccer team has as many as 200 interested buyers, reports say

<ul><li><keyword id="1417364" type="COMPANY" weightage="60" keywordseo="Shark-Tank">Shark Tank</keyword> investor <keyword id="2812972" type="PERSON" weightage="60" keywordseo="Kevin-OLeary">Kevin O'Leary</keyword> appeared on CNBC's Tuesday Halftime Report and said he is "very selective" in his choice of SPAC leaders.</li><li>"There's a lot of really bad product out there versus good product," the investor said. He recommended examining a SPAC leader's track record before buying in. </li><li>He listed <keyword id="1150206" type="PERSON" weightage="60" keywordseo="Bill-Ackman">Bill Ackman</keyword>, Todd Boehly, Michael Klein, and Alec Gores as four SPAC leaders with long track records of success. </li><li>"Do I want to bet with Bill? Sure, I'll give him some dough," O'Leary said. </li></ul><ul><li><a href="https://www.businessinsider.com/?hprecirc-bullet?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest">Visit Business Insider's homepage for more stories.</a></li></ul>Shark Tank investor Kevin O'Leary shared his SPAC-picking strategy during CNBC's Halftime Report on Tuesday. O'Leary said he is "very selective" in his choice of leaders and recommends investors examine a SPAC leader's track record before buying. He named Bill Ackman, Todd Boehly, Michael Klein, and Alec Gores as investors with long track records of success. "There's a lot of really bad product out there versus good product. But give me a guy like Alec Gores or Bill Ackman to be the sponsor and I look at this track record. You don't have to love him, you just have to look at his track record and I'm pretty happy," he said.Read more: <a href="https://www.businessinsider.com/top-20-stock-picks-esg-hedge-funds-in-2020-rbc-2020-9" target="_blank" rel="noopener noreferrer">Sustainable-stock funds are snapping up shares of these 20 companies — and most of them beat the market during September's turmoil, RBC says</a> CNBC showed a list of O'Leary's SPAC "buys" which included <a href="https://markets.businessinsider.com/stocks/psth-stock">Ackman's Pershing Square Tontine</a>, <a href="https://markets.businessinsider.com/stocks/gsah-stock">GSC Acquisition Holdings II</a>, and <a href="https://markets.businessinsider.com/stocks/twnd-u-stock">Tailwind Acquisition</a>."Do I want to bet with Bill? Sure I'll give him some dough. Todd Boehly? Absolutely, the guy's track record is spectacular out West. I want to give these guys money to put to work for me," he said. "And basically because we have less and less public companies, what they're going to do is find something and take it public, and I'll be getting in hopefully on the ground floor." Todd Boehly is behind the <a href="https://markets.businessinsider.com/stocks/hzac-u-stock">Horizon Acquisition Corporation</a> SPAC. O'Leary also said that choosing a SPAC to invest in can get complicated, and therefore he doesn't recommend them to everyone. But investors who are interested should read the SEC form S-1 filings of the blank check firm before they buy in.

Shark Tank investor Kevin O'Leary breaks down his strategy for picking SPACs — and explains why he'd bet on Bill Ackman and 3 other leaders

<ul class="summary-list"><li>Reports suggest that Chelsea's owner wants a $1.9 billion loan he gave the club to be repaid before any sale.</li><li>Oligarch <keyword id="13278280" type="UNKNOWN" weightage="60" keywordseo="roman-abramovich" source="Orion">Roman Abramovich</keyword> denies this, however, saying he'll give the money to charity instead.</li><li>Abramovich put Chelsea up for sale soon after the Russian invasion of Ukraine in February.</li></ul>Russian oligarch Roman Abramovich has denied asking for a $1.85 billion loan to Chelsea FC to be repaid when the club is sold.Abramovich put Chelsea up for sale in March, however was then sanctioned by the UK government following Russia's invasion of Ukraine, <a href="https://www.insider.com/chelsea-owner-roman-abramovich-sanctioned-government-cant-sell-3bn-club-2022-3">preventing him from profiting from the sale.</a>The 55-year-old said in a statement at the time that he intends to donate any profits from the sale to a charitable foundation that will be for the "benefit of all victims of the war in Ukraine."However, <a href="https://www.thetimes.co.uk/article/chelsea-sale-hits-snag-over-fears-roman-abramovich-wants-1-6bn-loan-repaid-sxjn5h8d7">The Times of England reported Wednesday</a> that Chelsea had "told the government" that it wants to "restructure the way the club is being sold," which would include paying off Abramovich's loan to the club to another company, Camberley International Investments, which also appears to be linked to the Russian.A spokesperson for Abramovich said Thursday that the report was untrue and that the oligarch's intentions to donate the sale proceeds to charity "have not changed.""Mr Abramovich has not asked for any loan to be repaid to him — such suggestions are entirely false," <a href="https://www.chelseafc.com/en/news/2022/05/05/statement-on-behalf-of-mr-abramovich">said a statement shared on Chelsea's website.</a>"Since the initial announcement, Mr Abramovich's team has identified senior representatives from UN bodies and large global charitable organizations who have been tasked with forming a Foundation and setting out a plan for its activities. The lead independent expert has had conversations with Government representatives presenting the structure and initial plans."Mr Abramovich has not been involved in this work and it has been managed independently by experts with years of experience working in humanitarian organizations."The spokesperson added that due to the sanctions placed upon Abramovich, his $1.85 billion loan to Chelsea would be frozen and held by the government subject to legal proceedings, but that the money is "still earmarked" for charity. "To be clear, Mr Abramovich has no access or control of these funds and will not have any access or control of these funds following the sale," they said."Despite the changing circumstances since his initial announcement — he remains committed to finding a good custodian for Chelsea FC and making sure the proceeds go to good causes."Los Angeles Dodgers co-owner <a href="https://www.insider.com/todd-boehly-who-is-chelseas-proposed-new-owner-2022-5">Todd Boehly has been selected as the preferred bidder for Chelsea,</a> with the American beating off competition from <a href="https://www.insider.com/chelsea-sale-uk-billionaire-jim-ratcliffe-last-ditch-5b-bid-2022-4">Britain's richest man Jim Ratcliffe</a> with a $3.5 billion bid. The sale of Chelsea is expected to be completed by the end of the month, when the government's operating license for the club comes to an end.

Chelsea's billionaire Russian owner denies wanting to profit from a $1.9 billion loan to club instead of giving it to victims of Ukraine war

<ul class="summary-list"><li>A judge signed off on warrants to seize two luxury jets from Russian oligarch <keyword id="13278280" type="UNKNOWN" weightage="60" keywordseo="roman-abramovich" source="Orion">Roman Abramovich</keyword>.</li><li>The two planes have a combined value of about $400 million, Biden administration officials said.</li></ul>US authorities obtained warrants Monday to seize two luxury jets from the Russian oligarch Roman Abramovich, as the Justice Department and Biden administration escalated enforcement of sanctions and export controls imposed in response to the invasion of <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>.In <a href="https://s3.documentcloud.org/documents/22053607/dojabramovich.pdf">court filings</a>, the Justice Department said the two planes — a Gulfstream and Boeing Dreamliner — flew to Russia in March in violation of export controls. Because the planes were manufactured in the United States, Abramovich would have needed licenses to move them to Russia — "but no licenses were applied for or issued," the Justice Department said in the court filings.The seizure warrant marked the latest move by the Justice Department's so-called <keyword id="13544422" type="UNKNOWN" weightage="60" keywordseo="kleptocapture" source="Orion">KleptoCapture</keyword> task force, which Attorney General Merrick Garland established in March to ramp up enforcement of sanctions and other economic countermeasures levied in response to Russia's invasion of Ukraine. The task force's efforts previously resulted in the <a href="https://www.businessinsider.com/us-seizes-first-russian-oligarch-yacht-spain-after-sanctions-report-2022-4">seizure</a> of two yachts belonging to Russian oligarchs close to <keyword id="11899444" type="UNKNOWN" weightage="60" keywordseo="vladimir-putin" source="Orion">Vladimir Putin</keyword>.In a parallel action Monday, the Commerce Department <a href="https://s3.documentcloud.org/documents/22053606/commerceabramovich.pdf">filed administrative charges</a> against Abramovich, alleging that his Boeing flew from Dubai to Moscow on March 4 in violation of export controls. The plane flew back to Dubai the same day and has remained there since then, the FBI said.Later in March, the Gulfstream flew between Istanbul and Moscow in violation of export controls, with Romanovich aboard as the "primary passenger on part, if not all, of those flights to and from Russia."Romanovich faces a maximum penalty of about $328,000 per violation or a sum twice the amount of the transaction at issue. An administration official said Monday that the Boeing plane is worth about $350 million, and the Gulfstream jet about $60 million.The planes "are not today taken into U.S. custody," the administration official said, "but they are now publicly known as wanted property, as tainted assets subject to forfeiture and under active pursuit."Abramovich <a href="https://www.businessinsider.com/roman-abramovich-completes-sale-chelsea-owner-la-dodgers-todd-boehly-2022-5">sold</a> Chelsea Football Club last month to a group led by LA Dodgers co-owner Todd Boehly and investment company Clearlake Capital Group. His sale of the storied team came just months after the UK and European Union sanctioned him in response to Russia's invasion of Ukraine.On Monday, a Justice Department official acknowledged that the United States has not similarly sanctioned Abramovich. But the official said that "simply not being on the [sanctions] list is not carte blanche" for enabling Putin's war machine.The prospects for seizing the Gulfstream and Boeing planes are unclear, the administration official said, noting that the two jets are in "difficult spots now." But by obtaining the seizure warrants and making the Commerce Department charges public, the Biden administration sent a message deterring any company or individual from facilitating further transport of the jets on Romanovich's behalf, the Justice Department official said."One way to do that is by making its allegations publicly known," the official said.

Federal authorities mark two luxury jets as 'tainted assets' and move to seize them from Russian oligarch Roman Abramovich

<ul class="summary-list"><li><keyword id="13278280" type="UNKNOWN" weightage="60" keywordseo="roman-abramovich" source="Orion">Roman Abramovich</keyword> wants as much as $4.4 billion for his beloved soccer team Chelsea.</li><li>The billionaire oligarch reportedly asked this week that all bidders up their offers by $627 million.</li></ul>Billionaire Russian Roman Abramovich has upped the asking price for Chelsea FC by £500 million ($627 million) at the final stage of bidding, according to several reports in the UK media.<a href="https://theathletic.com/news/abramovich-asks-chelsea-bidders-to-put-up-extra-500m-for-ukraine-foundation/42nFwTchGiyH/">According to a Thursday report by The Athletic,</a> Abramovich has asked the three remaining bidders for the current European and World club champions to provide the extra funding with the guarantee that it will be used to fund a foundation the oligarch wants to set up to help the victims of the Russian invasion of Ukraine.The request for further cash commitments means that, per the Athletic, the total cost to buy Chelsea will be around £3.5 billion ($4.4 billion), with roughly £2.5 billion ($3.14 billion) of that money committed to the new Ukraine foundation, and the other £1 billion ($1.26 billion) to be spent on investing directly in Chelsea.Extra funds were requested, <a href="https://news.sky.com/story/chelsea-fc-sale-bidders-quizzed-over-long-term-plans-for-stamford-bridge-club-12596860">Sky News reports</a>, in meetings this week between the consortiums bidding for Chelsea and close associates of Abramovich.Three groups remain in contention to buy Chelsea. The first, led by British businessman Sir Martin Broughton, includes <a href="https://www.insider.com/serena-williams-lewis-hamilton-chelsea-bid-roman-abramovich-report-2022-4">funding from both Lewis Hamilton and Serena Williams. </a>The others are from a group led by <a href="https://www.insider.com/chelsea-sale-todd-boehly-josh-harris-and-david-blitzer-frontrunners-2022-3">Todd Boehly, the co-owner of the Los Angeles Dodgers baseball team</a>, and from Stephen Pagliuca, who part-owns both the NBA's Boston Celtics and Italian soccer team Atalanta.The Athletic reports that all three groups were frustrated by the fresh cash demands but not so frustrated that they are looking to pull out of their bids.Abramovich is closely linked to President Vladimir Putin but has sought to distance himself from the war, even attempting to act as a broker in peace talks between Russia and Ukraine.He <a href="https://www.insider.com/chelsea-fc-for-sale-american-owners-want-to-buy-club-2022-3">put Chelsea up for sale shortly after Russia invaded Ukraine in February</a>, saying that his continued involvement in the club was an unnecessary distraction. Days later, he was sanctioned by the UK government, putting the sale in doubt. <a href="https://www.insider.com/roman-abramovich-chelsea-sale-how-will-it-work-experts-2022-3">The government, however, granted a special license to allow the sale process to begin</a>, with the American bank Raine Group spearheading its execution. The license was given on the condition that the UK government approves the new owner. <h2>Chelsea is living on 'borrowed time,' minister says.</h2><div type="image" title="UK Culture Secretary Nadine Dorries walking outside Downing Street" height="1113" width="2226" msid="91186187" hostid="261"></div>While the UK government is allowing a sale to go ahead, it is becoming increasingly frustrated with how long it is taking to find a buyer.On Thursday, Nadine Dorries, the UK's culture secretary, told the BBC that the club is living on "borrowed time" as a sale moves slowly closer."Chelsea's being sold, as you know, and the sanctions apply, so those sanctions still apply during the sale," <a href="https://www.bbc.co.uk/programmes/p0c3x79b">she said on the BBC's Newscast podcast.</a>"There is a very short window left for that sale to take place. It has to happen soon," she continued, adding that the window is "weeks," when pushed by presenter Chris Mason."All I would say is that Chelsea is very much on borrowed time right now," Dorries concluded.

Roman Abramovich demands an extra $627 million from everyone bidding to buy Chelsea, boosting sale price to $4.4 billion, report says

Hi! This is <a href="https://twitter.com/dandefrancesco">Dan DeFrancesco</a> checking in from New York. For those who observed the high holy day yesterday, here's hoping your fast went smoothly.Lots on tap today, from <a href="https://www.nytimes.com/2022/10/05/business/opec-russia-oil-output.html">oil cuts</a> to <a href="https://www.businessinsider.com/recession-ceos-preparing-esg-spending-staff-lay-off-kpmg-survey-2022-10">CEOs preparing for a potential recession</a> to the guy who just caught <a href="https://nypost.com/2022/10/04/dallas-man-cory-youmans-catches-aaron-judges-62nd-home-run/">a very expensive souvenir</a>. But first, let's chat about a certain tech executive and his plans to buy a certain social media website. By the way, our colleagues over on the media team are gathering nominations for an inaugural list of athletes who have built successful careers as creators. To learn more about the list, and submit your own pick, <a href="https://www.businessinsider.com/seeking-nominees-athlete-creators-media-personalities-2022-10">head over here. </a><hr />If this was forwarded to you,<a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street"> sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here</a>.<hr /><a href="https://www.businessinsider.com/elon-musk-loser-in-twitter-takeover-lawyers-win-2022-10"></a>1. The Elon-Twitter saga rolls on.If you haven't been following along, <a href="https://www.businessinsider.com/elon-musk-offers-buy-twitter-at-original-deal-price-report-2022-10">Elon Musk told Twitter on Monday</a> he'd agree to purchase the company for $54.20 per share, the price the two sides had initially agreed upon back in April before Musk famously tried backing out. There is still a lot to be sorted out — the Delaware judge presiding over the case said Wednesday neither party had officially filed anything to prevent a trial between the two sides from proceeding — though Twitter has agreed to delay a deposition by Musk scheduled for today, <a href="https://www.wsj.com/articles/elon-musk-and-twitter-discussed-price-cut-to-44-billion-takeover-in-recent-weeks-11665017788?mod=djemalertNEWS">according to multiple reports</a>. However, it seems a lot of the parties involved in this fiasco <a href="https://www.businessinsider.com/elon-musk-loser-in-twitter-takeover-lawyers-win-2022-10">are coming out worse for wear</a> if the deal ends up going through. Seven banks, including Morgan Stanley and Bank of America, are on the hook for $12.5 billion to help finance the deal, a process that suddenly <a href="https://markets.businessinsider.com/news/bonds/twitter-elon-musk-deal-banks-financing-losses-debt-merger-markets-2022-10">seems a lot more daunting</a> considering current market conditions. Meanwhile, Twitter employees must face the reality of having an owner who spent the better part of four months trashing their company, <a href="https://www.businessinsider.com/twitter-elon-musk-employees-elon-musk-deal-2022-10">leaving them frustrated</a> and questioning what type of <a href="https://www.businessinsider.com/what-will-elon-musk-change-about-twitter-2022-4">changes might be implemented once the dust settles</a>. And then, of course, there is Musk himself, who will have to sell more shares of Tesla in order to fund his portion of the deal, a move that one analyst said was akin to "<a href="https://markets.businessinsider.com/news/stocks/tesla-stock-outlook-elon-musk-twitter-takeover-wedbush-dan-ives-2022-10">giving away caviar to buy a $2 slice of pizza</a>."But, this is Wall Street, and one person's agony is another's success. And while many are bemoaning the knock-on effects of the deal, there are those who stand to benefit, including <a href="https://markets.businessinsider.com/news/stocks/carl-icahn-twitter-tech-stock-gain-elon-musk-tesla-takeover-2022-10">billionaire Carl Icahn</a>, <a href="https://markets.businessinsider.com/news/stocks/elon-musk-twitter-stock-buyout-pentwater-capital-hedge-fund-bet-2022-10">a Florida hedge fund</a>, and, perhaps least surprising of all, <a href="https://www.businessinsider.com/elon-musk-faces-staggering-legal-costs-twitter-battle-lawyer-fees-2022-10">the lawyers involved</a>. <hr />In other news:<a href="https://www.insider.com/video-fan-jumps-aaron-judge-home-run-2022-10"></a><div type="image" title="aaron judge" height="1125" width="1500" msid="94683824" hostid="261" sizebytes="82588"></div>2. OPEC+ agreed to cut its daily production by 2 million barrels in an attempt to increase oil prices, which had slid in recent months following a spike over the summer. The move by the group, which is co-led by Saudi Arabia and Russia, comes despite US and European leaders pushing for more oil production <a href="https://www.nytimes.com/2022/10/05/business/opec-russia-oil-output.html">to lower gas prices and limit Russian revenue</a>.3. Lawyers are set to make a boatload in fees from Elon Musk's will-he-won't-he Twitter deal. One law professor estimates the cost could be as high as $100 million for Musk alone, further cementing the belief that lawyers <a href="https://www.businessinsider.com/elon-musk-faces-staggering-legal-costs-twitter-battle-lawyer-fees-2022-10">always come out on top no matter what</a>.4. The vast majority of CEOs are ready for a recession and plan to cut ESG spending and conduct layoffs, according to a new survey from KPMG. Only a third of respondents, which included chief executives from 400 American companies, <a href="https://www.businessinsider.com/recession-ceos-preparing-esg-spending-staff-lay-off-kpmg-survey-2022-10">believe a potential recession will be "mild and short."</a>5. English Premier League team Everton is reportedly receiving interest from a SPAC co-led by George Soros' nephew, according to Bloomberg. The beautiful game has garnered increased interest from investors in recents years, with US billionaire Todd Boehly and PE giant Clearlake Capital purchasing fellow <a href="https://www.bloomberg.com/news/articles/2022-10-05/everton-said-to-draw-takeover-interest-from-soros-nephew-s-spac?sref=5xrDvJna">EPL club Chelsea earlier this year</a>.6. An unlikely new entrant into the world of venture investing has emerged: public utilities. A group of natural-gas utilities has backed a $61 million fund that is focused on disruption within their own industry. According to one investor, the move is more about understanding the latest developments in green technology <a href="https://www.businessinsider.com/public-utilities-getting-into-the-vc-game-to-disrupt-themselves-2022-10">than nabbing eye-popping returns (but I'm sure that doesn't hurt)</a>.7. Remote work might not mean a rubbish raise during your annual review. Four HR experts share their tips for how you can make sure your contributions are recognized even if they <a href="https://www.businessinsider.com/annual-performance-reviews-remote-work-evaluating-employees-2022-10">were done in sweatpants</a>. 8. The fan who caught Aaron Judge's 62nd home-run ball works in finance. Cory Youmans, who is a vice president at a Dallas branch of money manager Fisher Investments, <a href="https://nypost.com/2022/10/04/dallas-man-cory-youmans-catches-aaron-judges-62nd-home-run/">is sitting on a potential gold mine</a>, with one prospective buyer having previously valued the ball at $2 million. <a href="https://www.insider.com/video-fan-jumps-aaron-judge-home-run-2022-10">Watch the moment he caught it here.</a>9. Insider's Adam Rogers binge-listened to tech podcasts for a week. Adam shared six lessons <a href="https://www.businessinsider.com/tech-podcasts-silicon-valley-ideology-andreessen-horowitz-calacanis-palihapitiya-2022-9">from the 40 hours he spent listening to Silicon Valley's top minds</a>.10. The annual list of the World's 50 Best Bars was released, and New York City nabbed two spots in the top 15. In what I'm sure will be a shock to young finance bros, no Murray Hill watering holes <a href="https://www.insider.com/best-bars-in-the-world-new-york-ranked-list-2022-10">made the list</a>.<hr />Keep updated with the latest business news throughout your day by checking out <a href="https://link.chtbl.com/therefresh">The Refresh from Insider</a>, a dynamic audio news brief. <a href="https://link.chtbl.com/therefresh">Listen here.</a><hr />Edited by Jeffrey Cane (tweet <a href="https://twitter.com/jeffrey_cane">@jeffrey_cane</a>) in New York and Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

From Carl Icahn to the biggest banks, here's who stands to win, and lose, from Elon Musk's Twitter deal

<ul class="summary-list"><li><keyword id="11893972" type="UNKNOWN" weightage="60" keywordseo="chelsea" source="Orion">Chelsea</keyword> asked for an upcoming away game to be played behind closed doors after a ticket-selling ban.</li><li>The request has been widely condemned, with Chelsea's opponents calling it "ironic in the extreme."</li></ul>Chelsea FC has been widely criticized for asking that an upcoming away match be played without any fans after it was barred from selling tickets to its supporters.As part of a package of UK government restrictions on the club, <a href="https://www.insider.com/chelsea-owner-roman-abramovich-sanctioned-government-cant-sell-3bn-club-2022-3">following the sanctioning of owner Roman Abramovich</a>, Chelsea is not allowed to sell any new tickets for games, either home or away, for the foreseeable future. Fans with season tickets and tickets purchased before the sanctions can still attend games, however.On Tuesday, <a href="https://www.chelseafc.com/en/news/2022/03/15/middlesbrough-ticket-update">Chelsea published a statement</a> in which it noted that despite talks with the UK government, it would not be able to sell tickets for its upcoming FA Cup match with Middlesbrough, a team in the Championship, the division below the Premier League.It then said it had asked soccer authorities to bar all fans from Saturday's game away in Middlesbrough for reasons of "sporting integrity," effectively arguing that having no away fans would create a disadvantage for the club."It is important for the competition that the match against Middlesbrough goes ahead, however it is with extreme reluctance that we are asking the FA board to direct that the game be played behind closed doors for matters of sporting integrity," the statement read.<div type="image" title="Chelsea owner Roman Abramovich looks on from the stands during the Barclays Premier League match between Chelsea and Manchester City at Stamford Bridge" height="1000" width="2000" msid="90236849" hostid="261"></div>Soon afterwards both the UK government and Middlesbrough released scathing statements condemning Chelsea's request, with Middlesbrough calling it "ironic in the extreme" for the club to discuss "sporting integrity" in the context of its owner being sanctioned for his links to Russian President Vladimir Putin.Opening by calling the request "both bizarre and without any merit whatsoever," Middlesbrough went on to say: "All concerned are well aware of the reasons Chelsea have been sanctioned and that this has nothing to do with Middlesbrough Football Club."To suggest as result that MFC and our fans should be penalized is not only grossly unfair but without any foundation."Given the reasons for these sanctions, for Chelsea to seek to invoke sporting 'integrity' as reason for the game being played behind closed doors is ironic in the extreme."A senior government source also condemned Chelsea's request. "This statement threatening Middlesbrough and the rest of the football league shows they do not seem to understand the seriousness of the situation they are in," the government source said, <a href="https://twitter.com/alexwickham/status/1503720111538319360?s=20&amp;t=0gdh_2bkTs94XlAvysoWKw">per Politico reporter Alex Wickham.</a>"Chelsea should spend less time worrying about having a few thousand fans at one game, and focus on moving their club into the hands of someone who isn't linked to a warmonger," it continued.After this pressure, Chelsea ultimately withdrew its request to have the game played without spectators, and said it had entered into dialogue with the Football Association to find a solution.<blockquote class="twitter-tweet blockquote" data-lang="en" data-cards="" data-conversation="">—Chelsea FC (@ChelseaFC) <a href="https://twitter.com/mims/statuses/1503778437852499975">March 15, 2022</a></blockquote>Chelsea's ticket battle is the latest setback for the club after Abramovich was hit with sanctions last week. <a href="https://www.insider.com/roman-abramovich-sanctions-causing-chelsea-soccer-budget-fears-2022-3">As well as being unable to sell tickets, the club is also subject to a £20,000 ($26,000) travel budget</a> for games, <a href="https://www.dailymail.co.uk/sport/sportsnews/article-10614785/Chelsea-boss-Thomas-Tuchel-confirms-team-fly-FA-Cup-quarter-final-Middlesbrough.html">meaning that it may have to travel to Middlesbrough by coach,</a> rather than flying as usual.The ticket furor comes just days before an upcoming Friday deadline to submit initial bids to buy the club. The team was put up for sale by Abramovich following the Russian invasion of Ukraine, but before he was hit by UK sanctions.A number of billionaires, <a href="https://www.insider.com/chelsea-fc-for-sale-american-owners-want-to-buy-club-2022-3">including Swiss tycoon Hansjörg Wyss and LA Lakers part-owner Todd Boehly,</a> are believed to have entered bids for Chelsea so far. It is believed that the UK government will have to sign off on any deal for the club.

Chelsea FC sparked outrage by asking to ban fans from a game because oligarch Roman Abramovich's sanctions barred it from selling tickets

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/568f0946e6183ebe4a8b77b3-2400/ap312823411334.jpg" border="0" alt="DraftKings" data-mce-source="Stephen Savoia/AP" data-mce-caption="In this Sept. 9, 2015 file photo, Devlin D'Zmura, a tending news manager at DraftKings, a daily fantasy sports company, works on his laptop at the company's offices in Boston." />Stephen Savoia/APDraftKings is trying to raise another round of funding.</div></div></div><ul class="summary-list"><li>Fantasy sports site DraftKings is looking to raise hundreds of millions of dollars in a new funding round that could value the company at as much as $2 billion, people familiar with the matter told Business Insider.</li><li>DraftKings is trying to push into the newly opened live sports betting space, which was cracked open last year after the Supreme Court<a href="https://www.businessinsider.com/states-where-sports-betting-legal-usa-2019-7"> overturned a federal ban on sports betting outside of Nevada.</a></li><li>The company is also eyeing an initial public offering at some point in the next few years, according to media reports. </li></ul>Fantasy sports site DraftKings is raising hundreds of millions in fresh funds in a new round that could value the company at as much as $2 billion, two people familiar with the matter told Business Insider.The exact amount of the round and timing could not be learned. "DraftKings operates as a privately held company and, as a matter of course, we do not publicly release financial information, including details on funding rounds," a DraftKings spokesman told Business Insider. DraftKing has already raised nearly $1 billion in funding with existing investors including the Raine Group, The Madison Square Garden Company, Todd Boehly's Eldridge Industries, venture firm Accomplice, and Kraft Group, which owns the New England Patriots. The potential fundraise comes as DraftKings is trying to capture share in the newly opened - and highly lucrative - live sports betting space. In May 2018, the Supreme Court overturned a federal ban on sports betting outside of Nevada and since then a number of states including New Jersey have legalized the practice. DraftKings is also positioning itself for an initial public offering which could come in the next several years, CNBC has previously reported. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/wework-ipo-scott-galloway-impact-jp-morgan-softbank-2019-9">Scott Galloway explains who gets hosed from WeWork's IPO disaster</a></h3> <div> <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/JsElzxji-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script> </div> </div>

Fantasy sports site DraftKings is looking to raise new funding at a $2 billion valuation

<img class="float_right" src="http://static6.businessinsider.com/image/50f6b07becad04a77b000021-471/ross-levinsohn-1.jpg?maxX=369&amp;maxY=276" border="0" alt="Ross Levinsohn" width="369" height="276" />(Reuters) - Ross Levinsohn, <keyword id="6363100" type="CITY" weightage="60" keywordseo="Yahoo">Yahoo</keyword> Inc's former interim chief executive, has been appointed chief executive of the newly created Guggenheim Digital Media, the digital arm of private equity firm Guggenheim Partners.
The New York-based company operates Prometheus Global Media, the publisher of trade magazines Billboard, The Hollywood Reporter and Adweek.
In his new position, Levinsohn will work closely with those titles and Guggenheim's other assets, including Dick Clark Productions.
Levinsohn has a deep background in digital media, including at News Corp where he headed up the Fox Interactive Media division. While at Yahoo, Levinsohn's strategy was to turn the challenged company into an entertainment and media powerhouse by building out its video offerings and striking syndication deals. He was recently named to the board of directors of the Tribune Company.
Guggenheim Partners President Todd Boehly said in a statement that the new digital arm is on the hunt for investments in the media, technology and entertainment spaces.
Separately, Guggenheim said it bought out the remaining stake in Prometheus Global Media from Jimmy Finkelstein's Pluribus Capital.
<div class="nc_footer">
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Yahoo's Ross Levinsohn Is Now In Charge Of Adweek

<div class="image-container float_right" style="width:350px"><div class="image"><img src="http://static1.businessinsider.com/image/50b9322f6bb3f7c80500000f-671-503/quicktime%20playerscreensnapz008.png?maxX=350" border="0" alt="ross levinsohn, ignition 2012," width="350" /></div>Business Insider</div>When, in January, news broke that former interim Yahoo CEO <keyword id="793267" type="PERSON" weightage="60" keywordseo="Ross-Levinsohn">Ross Levinsohn</keyword> had been named the CEO of <keyword id="1524521" type="COMPANY" weightage="60" keywordseo="Guggenheim-Digital-Media">Guggenheim Digital Media</keyword>, everybody stifled yawns.
GDM runs trade publications Billboard, AdWeek, and The Hollywood Reporter.
Those are nice publications with strong brands and loyal, if small, audiences.
But Ross Levinsohn was running Yahoo, a $20 billion company with 700 million users, only months before. Also Levinsohn has always been a guy who likes to make big, splashy industry-changing deals. He once sold MySpace's ad inventory to Google for $900 million. 
What was he doing running a collection of trade publications?
It turns out Levinsohn is actually up to something more exciting.
He's got a huge sack of cash stuffed with billions of dollars, and he's out looking for media companies to buy with it.
A source in the deals community tells us Levinsohn is looking at companies from <keyword id="191565" type="CITY" weightage="60" keywordseo="Hulu">Hulu</keyword> to Vox, the parent company of The Verge and SB Nation.
We weren't told so, but you have to figure Buzzfeed is also on his radar.
Where's the money from?
Guggenheim Digital Media is backed by Guggenheim Partners. 
<a href="http://money.cnn.com/2013/02/28/news/companies/guggenheim-partners1.pr.fortune/index.html">Guggenheim Partners is run by Todd Boehly and Mark Walter.</a>
It has $170 billion under management.
$170 billion!
It's the same firm that bought the Los Angeles Dodgers for more than $2 billion last year. It also spent $370 million on Dick Clark Productions, which owns the Golden Globes and So You Think You Can Dance?.
And yes, it's the same Guggenheim family that has its name on one of New York's best museums.

This Man Has Billions Of Dollars To Spend Buying Companies

<div class="image-container float_right" style="width:350px"><div class="image"><img src="http://static1.businessinsider.com/image/50b9322f6bb3f7c80500000f-671-503/quicktime%20playerscreensnapz008.png?maxX=350" border="0" alt="ross levinsohn, ignition 2012," width="350" /></div>Business Insider</div>Former interim <a href="http://www.businessinsider.com/blackboard/yahoo">Yahoo</a> CEO <a href="http://www.businessinsider.com/blackboard/ross-levinsohn">Ross Levinsohn</a> is now the CEO of Guggenheim Digital Media.
Guggenheim Digital Media is a new company, formed by Guggenheim Partners, which calls itself "a global diversified financial services firm."
GDM says it will allocate "significant capital to acquire and invest in new media companies and properties that will meaningfully expand its current portfolio."
GDM already owns Billboard, AdWeek, and The Hollywood Reporter – properties of Prometheus Global Media, another company that Guggenheim Partners controls and will now hand over to GDM.
It's a very good fit for Levinsohn – a prolific dealmaker and true believer in media brands online.
With a big sack of cash and some new media brands to work with, Levinsohn will essentially get to pursue the strategy he would have gone after if he had remained CEO at <keyword id="6363100" type="CITY" weightage="60" keywordseo="Yahoo">Yahoo</keyword>.
That is: building up the value of content brands so they can be monetized across whatever technology platform is the flavor of the day.
At our Ignition Conference late last fall, Levinsohn talked about the power of bringing technology and content businesses together.
"There is not a great enough appreciation, I think, in Silicon Valley for how hard it is to create great content, and, conversely, there is not a great enough appreciation in Hollywood [and New York] for how hard it is to create great technology," said Levinsohn. "When the two of these things come together, it's the most powerful thing that exists in our whole ecosystem."
You can watch him talk about the value of a media brands here:
<script src="http://player.ooyala.com/player.js?height=348px&amp;embedCode=xyN2FiNzoHrmFVZYzJIgCXnOrE_Vq86R&amp;deepLinkEmbedCode=xyN2FiNzoHrmFVZYzJIgCXnOrE_Vq86R&amp;width=619px" type="text/javascript"></script>
And here's the press release for today's news:
Guggenheim Partners ("Guggenheim"), a global diversified financial services firm, today announced that it has formed Guggenheim Digital Media ("GDM") and named <keyword id="793267" type="PERSON" weightage="60" keywordseo="Ross-Levinsohn">Ross Levinsohn</keyword> Chief Executive Officer. As a part of its investment in GDM, Guggenheim anticipates allocating significant capital to acquire and invest in new media companies and properties that will meaningfully expand its current portfolio.
Guggenheim Digital Media will also oversee and operate the existing Prometheus Global Media assets that Guggenheim controls, including the iconic brands of Billboard, Adweek, and The Hollywood Reporter. GDM will continue to invest in both the print and digital versions of these properties, developing cutting-edge and industry-leading products. It will continue to manage The Film Expo Group and CLIO Awards, and partner with additional Guggenheim assets to further develop their digital media strategies, including Dick Clark Productions.
"GDM will play an integral role in developing our iconic portfolio of existing media and entertainment assets, as well as identifying new, groundbreaking investments and partnerships in the music, media, technology, and digital entertainment spaces," said Todd Boehly, President of Guggenheim Partners. "Ross's deep industry expertise and impressive track record of executing digital media strategies make him the ideal person to spearhead this new effort."
"I am excited to be part of the dynamic Guggenheim family of companies," commented Ross Levinsohn. "GDM has a powerful and competitive portfolio of iconic media assets today, and I look forward to identifying new opportunities for growth as the media and technology industries continue to rapidly evolve."
Prior to joining Guggenheim, Mr. Levinsohn served as interim Chief Executive Officer for Yahoo!. Previously, he served as EVP and Head of Global Media for Yahoo!, where he was responsible for all aspects of Yahoo!'s digital media business, including the vision, strategy, product, partnerships, engineering, and content creation for its marquee properties and content experiences globally. He joined Yahoo! in 2010 as EVP, Americas, overseeing its largest regional business.
In addition, Guggenheim announced that it has acquired the remaining stake in Prometheus Global Media from Pluribus Capital, which was founded by Jimmy Finkelstein, who previously served as Chairman of Prometheus Global Media.
"We have enjoyed a successful and profitable investment with Prometheus, and Guggenheim now has a dynamic runway for continued success, especially in light of their recent acquisitions in the media industry," said Mr. Finkelstein.
Mr. Boehly continued, "The partnership between Guggenheim and Pluribus has produced dynamic and growing brands. We credit Jimmy for his leadership and wish him the best of luck in his future ventures."
Notes to Editors:
(1) Ross Levinsohn spent more than six years at News Corporation, serving as the President of News Corporation's Fox Interactive Media, where he was responsible for the day-to-day operations, strategy, and acquisitions that helped transform the Company into a leader in digital media. He also ran Fox Sports Interactive Media and served as Senior Vice President, News Digital Media before being named President. He also held senior management positions with AltaVista, an early pioneer and leader in search, CBS Sportsline, where he oversaw all content and development for the top-rated sports site, and HBO, where he launched and oversaw a unit developing new programming and revenue streams. Mr. Levinsohn was also the Co-Founder and Managing Director of Fuse Capital, an investment and strategic equity management firm focused on investing in and building digital media and communications companies. Mr. Levinsohn sits on the board of the Tribune Company, Zefr, Inc., and social travel site Minitime, as well as the Bogart Pediatric Cancer Research Program, and previously served on the boards of Freedom Communication and Napster. He holds a Bachelor's degree from American University.
(2) Since being acquired by Prometheus Global Media, iconic publications such as Billboard and The Hollywood Reporter have undergone major digital expansions. The award-winning The Hollywood Reporter has become dominant in Hollywood, and both it and Adweek have undergone major re-designs. In addition, Billboard introduced the Billboard Awards and continues to expand its footprint around the world. The CLIO Awards has reinforced its role as the most prestigious advertising award, expanding with the debut of CLIO Healthcare and the addition of key new awards categories, and the Film Expo Group, which produces the leading events in the film industry, continues to expand.
About Guggenheim Partners
Guggenheim Partners is a privately held global financial services firm with more than $160 billion in assets under management. The firm provides asset management, investment banking and capital markets services, insurance, institutional finance, and investment advisory solutions to institutions, governments and agencies, corporations, investment advisors, family offices, and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients around the world from more than 25 offices in eight countries. For more information about Guggenheim Partners, visit guggenheimpartners.com.
<a href="http://www.businessinsider.com/ex-yahoo-interim-ceo-ross-levinsohn-is-now-ceo-of-guggenheim-digital-media-2013-1">Click here for updates.</a>

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