Todd Boehly led an investor consortium that took over Chelsea in 2022, but he’s disillusioned with the direction they’re going in. Boehly and Clearlake Capital headed BlueCo who acquired Chelsea for $3bn, sharing control and responsibilities.
Boehly and Clearlake may be seeking a separation if reports are to be believed, however. The relationship has broken down, and both parties are looking to buy the other out.
Boehly and Clearlake not sharing a unified vision
According to Jacob Steinberg of the Guardian, Boehly has lost faith in Clearlake Capital. He is open to buying out his partners or selling his stake for the right price. Boehly’s 38% stake is shared equally between Hansjörg Wyss and Mark Walter.
Clearlake, owned by Behdad Eghbali and José E Feliciano, have the other 61.5% of shares. They have no interest in selling their share as they want a decade-long investment. Steinberg says Clearlake would be open to buying Boehly out, but he’s not named an acceptable figure.
Boehly wants an amicable resolution to the situation rather than civil war, but the owners don’t see eye to eye. There’s conflicting information about the Chelsea chairman wanting out, with Steinberg insisting he wants a long-term stay in West London. There’s been no talks about one side buying the other out either.
What happens next?
Steinberg says Boehly believes Chelsea’s management structure is untenable, so talks need to be had. Neither side wants to depart Chelsea, but the relationship isn’t working.
Boehly wasn’t expecting to be so hands on after the takeover, and he’s been heavily criticised for their transfer policy. Chelsea have spent more than £1.2bn on transfers since 2022, so they need on-pitch success to generate revenue.
The belief is that Enzo Maresca can get Chelsea back into Europe, but the future of the club is uncertain. Boehly and Clearlake have no intention of losing their influence but don’t feel it’s possible to continue together.
Something has to give, and that starts with getting everyone in a room to discuss intentions.
In other news, a journalist revealed how Chelsea missed out on Victor Osimhen
