BSkyB Buys Stake In Chelsea

BSkyB has announced its purchase of a 9.9% stake in Chelsea Village, the company which owns Chelsea Football Club. The deal, worth £40 million, will allow the broadcaster media and sponsorship rights for the club.

BSkyB will act as exclusive media agent for the Chelsea Village Group for an initial period of five years. This excludes rights required to be collectively negotiated by the FA Premier League. BSkyB and Chelsea will also set up a joint venture company to develop media and internet-related opportunities with the aim of creating a Chelsea portal.

The acquisition brings to five the number of football clubs in which the broadcaster has stakes. Most recently it paid £6.5 million for a stake in Sunderland FC (see BSkyB Buys Into Sunderland FC). It also has interests in Manchester City (see BSkyB Buys Into Manchester City), Leeds United (see BSkyB Takes £13.8m Stake In Leeds United) and Manchester United, from which it was controversially blocked from a complete takeover (see BSkyB And Manchester United Create Controversy). The group also announced today an agreement to maintain Tottenham Hotspurs website (see BSkyB And Spurs Sign Net Deal).

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