Todd Boehly and Clearlake in Power Struggle for Chelsea

Todd Boehly and Clearlake Capital are in the midst of a power struggle as both seek to take full control of Chelsea. Boehly, who played a key role in purchasing Chelsea from Roman Abramovich for £2.5bn in 2022 has seen his influence diminish. Clearlake Capital with its 61.5% stake, now drives decision-making while co-founder Behdad Eghbali has taken on a more active role since Boehly stepped down as interim sporting director in January 2023.

A widening divide now separates Clearlake from Boehly’s allies including Hansjorg Wyss and Mark Walter, who control 38.5% of the club. Although the club has denied any conflict, multiple senior figures acknowledge the internal rift. Clearlake refuses to sell its stake while Boehly aims to buy it out and resolve the situation quickly. Both sides hold matching rights and blocking options if third-party interest surfaces.

The tension reportedly delays key projects such as the revamping of Stamford Bridge. Chelsea’s current manager, Enzo Maresca, took over in July, replacing Mauricio Pochettino. This marks another managerial change under the new ownership, which had previously dismissed Thomas Tuchel and Graham Potter. Since the takeover, Chelsea’s owners have spent over £1bn on new signings drawing criticism for hoarding players.

At one point, the squad had 42 senior players though that number has since been reduced to 36. Under a written agreement, the ownership group rotates the chairmanship every five years, setting Todd Boehly to step down in 2027. Clearlake must approve any potential sale of Boehly’s shares.