Chelsea Chairman: Report Suggests Potential Replacement for Todd Boehly in 3 Years”

March 8, 2024

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Chelsea Chairman may face potential replacement.

According to a new report, Todd Boehly’s tenure as Chelsea chairman could be in jeopardy within the next three years. Boehly, an American, has held the position since his acquisition of the club alongside Clearlake Capital from Russian oligarch Roman Abramovich in 2022.

Despite substantial investment, Chelsea has failed to secure any trophies in nearly two years, leading to managerial changes and a disappointing performance under current boss Mauricio Pochettino. The Telegraph reveals a provision in the ownership agreement allowing the rotation of the chairman every five years, potentially paving the way for Boehly’s, current Chelsea Chairman’s replacement by 2027. Clearlake Capital, owned by Behdad Eghbali and Jose Feliciano, could nominate their representative in 2027, although Boehly might reclaim the role in 2032.

However, this arrangement remains optional, granting Boehly the possibility to retain his position as the Chelsea Chairman if Clearlake Capital abstains from nominating a successor. Amid criticism of Chelsea’s performance, Boehly faces scrutiny while Eghbali’s influence within the club reportedly grows. Despite speculation, there’s no indication of Eghbali and Feliciano’s interest in assuming the chairmanship. Clearlake Capital’s majority ownership of 60 percent in 22 Holdco, the UK-based entity behind Chelsea, is highlighted, with Boehly, Hansjorg Wyss, and Mark Walter sharing the remaining 40 percent equally.

Boehly’s 13 percent stake is entirely self-funded. Meanwhile, Chelsea reported a pre-tax loss of £90.1m in Boehly and Clearlake’s first full year of ownership, following a loss of £121.4m attributed to sanctions under Abramovich’s ownership. These financial challenges raise concerns about Chelsea’s compliance with Premier League’s profit and sustainability rules.