Chelsea’s co-owners, Todd Boehly and Clearlake Capital, are reportedly considering buying each other out due to increasing tensions within the club's boardroom. This development comes as both parties vie for full control of the club, which was purchased from Roman Abramovich for £2.5 billion in July 2022.
Initially, Todd Boehly was named co-controlling owner, but his influence has diminished since Clearlake Capital, which holds a 61.5% stake in the club, took primary control of operations at Stamford Bridge. Behdad Eghbali, Clearlake’s co-founder, has taken a more active role, particularly since Boehly stepped down as interim sporting director in January 2023.
The situation has reportedly led to a division between Clearlake and Boehly’s faction, which includes billionaires Hansjörg Wyss and Mark Walter, who together own the remaining 38.5% of Chelsea. Despite denials of any conflict, it's clear that both sides are positioning themselves for greater control. Clearlake has shown no interest in selling its stake and is open to increasing it, while Boehly is reportedly eager to buy out Clearlake’s shares and resolve the matter quickly.
The ownership agreement includes matching rights and veto options if third-party offers emerge, which adds complexity to any potential buyout. This internal struggle is believed to have impacted the club's progress on significant projects, such as stadium redevelopment or potential relocation, although it has been kept mostly hidden from the sporting side of the club.
Since taking over, the new ownership has been highly active in the transfer market, spending over £1 billion on new signings. However, their approach has been criticized, particularly for accumulating a large number of senior players, with the squad at one point swelling to 42 players, though this has since been reduced to 36.
The managerial instability at Chelsea has also been notable under the new ownership. Enzo Maresca was recently appointed as manager after the departure of Mauricio Pochettino, who left after just one season. Pochettino’s departure followed the sackings of Thomas Tuchel and Graham Potter, highlighting the ongoing turbulence at Stamford Bridge.
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