Chelsea FC is currently experiencing a high-stakes standoff between its two main owners, Todd Boehly and Behdad Eghbali. Both are keen on buying out the other, yet neither is willing to sell, highlighting a significant rift at the heart of the club.
On one side, there's Todd Boehly, who is often seen as the face of Chelsea's ownership due to his high-profile role and bold public statements, including a now-famous proposal for a Premier League all-star game.
Despite his prominent position and ownership of the LA Dodgers, Boehly holds only a 12.8% stake in Chelsea, shared equally with his billionaire partners, Mark Walter and Hansjorg Wyss. This minority share limits his influence over major decisions.
On the other side is Behdad Eghbali, the co-founder of Clearlake Capital, which controls a majority 61.5% stake in Chelsea. Eghbali, alongside Clearlake co-founder Jose E. Feliciano, is the most active and influential figure in the club’s day-to-day operations. They are firm in their stance not to sell their shares and are focused on increasing their stake instead.
The ownership group came together to purchase Chelsea following sanctions against former owner Roman Abramovich due to the Ukraine conflict. The group's unity is now fractured, with Boehly and Eghbali representing two distinct camps.
The tensions between Boehly and Clearlake have been brewing for some time. The latest public clash centers around the sacking of Mauricio Pochettino, a decision influenced by both sides but ultimately executed under Eghbali's influence. Boehly's criticism of the team and subsequent retreat from daily operations has further deepened the divide.
The club's chaotic transfer strategy, with over £1.5 billion spent in recent windows and frequent changes in the squad, reflects the broader instability within the ownership. Despite this, Chelsea’s women’s team has thrived with less intervention from the owners.
Looking ahead, several scenarios could resolve the situation:
1. Boehly could buy out Clearlake’s stake.
2. Clearlake might buy out Boehly.
3. The current uneasy alliance could persist, with partial resolutions to ongoing issues.
4. A third party could become involved.
However, the complexities of the ownership structure mean that any resolution will likely involve significant financial maneuvering and boardroom negotiations. Both Boehly and Eghbali are expected to play their cards carefully, with the future of Chelsea potentially hinging on upcoming offers and internal decisions.
