“Civil War at Chelsea” – Todd Boehly and Clearlake Capital at War as Boehly reveals next move
Co-owner Todd Boehly of Chelsea is expected to oppose Clearlake Capital’s position against selling the team, adding to the growing strain in the boardroom.
The Sun claims that Boehly is getting ready to launch a daring attempt to seize complete control of Chelsea, perhaps igniting a heated power battle.
Following the 2022 takeover, Boehly assumed the role of public face for Chelsea’s ownership group. However, in recent months, his relationship with Clearlake Capital, the private equity firm that owns a 61.5% majority share in the club, has soured.
Behdad Eghbali, a co-founder of Clearlake, is in charge of the company and has reportedly discussed buying Boehly out, but he is adamantly opposed to the concept.
Despite Eghbali’s firm stance, Boehly is undeterred and confident in his ability to raise the necessary £2.5 billion to acquire Clearlake’s majority share. Boehly, also an investor in Major League Baseball’s LA Dodgers, appears resolute in his ambitions to gain greater control of Chelsea’s future, hinting at a potential shake-up at Stamford Bridge.
Since the takeover, Eghbali has taken a more hands-on role in Chelsea’s operations, working closely with sporting directors Paul Winstanley and Laurence Stewart. His increased involvement has been particularly evident during the recent transfer window, which saw the arrival of 13 new players at the club while several key figures, including Conor Gallagher, Trevoh Chalobah, and Raheem Sterling, departed.
While Boehly and Eghbali have attended games at Stamford Bridge this season, their relationship appears increasingly strained. They were both present on Chelsea’s pre-season tour of the United States but notably were not seen together, further fueling speculation of discord within the ownership group.
Clearlake, managed by Eghbali and his co-founder Jose E. Feliciano, controls the majority of Chelsea’s shares, with the remaining 38.5% stake held equally by Boehly and business partners Mark Walter and Hansjorg Wyss. Boehly is reportedly uninterested in selling his individual share, making it clear that any attempt by Clearlake to take full control would require the acquisition of his entire 38.5% stake.
As things stand, all major decisions at Chelsea must be approved by Eghbali, Feliciano, and Boehly, creating a potentially fraught environment for the club’s future planning. Disagreements between the owners have already caused delays in crucial projects, including the much-anticipated redevelopment of Chelsea’s stadium.
The ongoing discord threatens to compound the turmoil Chelsea has faced on the pitch since the American owners took over from Roman Abramovich. Despite pledges to move away from Abramovich’s “hire-and-fire” management style, the club is already on its fifth manager under the new regime, with over £1.2 billion spent on new talent yet to yield any significant silverware.
The current ownership’s approach has been marked by radical decisions, including signing young players on lengthy contracts of up to nine years and operating perilously close to the Premier League’s financial regulations. As the boardroom drama unfolds, fans will be watching closely to see whether this internal conflict will further affect the club’s already tumultuous season.
Both Boehly and Clearlake remain keen to resolve the current impasse, but with both parties entrenched in their positions, it remains to be seen what direction the club will take in the coming months. For now, the uncertainty continues, both on and off the pitch.