Chelsea Football Club is reportedly facing a significant internal conflict, with tensions escalating between co-owner Todd Boehly and the club’s majority shareholders, Clearlake Capital.
According to reports from The Telegraph, relations between Boehly and Clearlake Capital have deteriorated to the extent that they are now at a “breaking point,” creating the potential for a serious internal struggle that has been described as a “civil war.”
Boehly, an American businessman who holds a minority stake in Chelsea, is said to view the current ownership structure at the club as “untenable.” He reportedly believes that the ongoing disagreements and lack of alignment among the club’s ownership group are becoming a major issue that needs urgent resolution.
As a result, Boehly is considering making a move to buy out Clearlake Capital’s shares in the club, as part of his plan to take full control of the West London outfit. It is suggested that Boehly, who is 50 years old, is confident in his ability to “quickly raise” the £2.5 billion required to make an offer to Clearlake for their shares.
The potential buyout comes as Boehly outlines his long-term vision for Chelsea, which includes ambitious plans for building a new stadium as part of a 20 to 30-year strategy for the club. However, Clearlake Capital, which currently owns a majority stake of 61.5% in Chelsea, reportedly has no interest in selling its shares.
Instead, Clearlake is believed to prefer increasing its stake in the club rather than divesting it. This difference in strategic outlook between Boehly and Clearlake Capital is reportedly at the core of their growing conflict.
At this stage, there have been no formal discussions between Boehly, Clearlake, or any of the other investors in Chelsea regarding the potential sale of shares. However, the situation could change soon as tensions continue to rise and both sides appear to be contemplating their next moves.
Clearlake Capital, a private equity firm co-owned by Chelsea’s other co-owners, Behdad Eghbali and Jose E. Feliciano, acquired its stake in Chelsea as part of the BlueCo consortium. The consortium purchased the club from its previous owner, Roman Abramovich, for £2.5 billion in 2022.
As part of the purchase agreement, Clearlake and its partners committed an additional £1.75 billion for further investment in the club. Since then, approximately £1.5 billion has already been spent on new signings to strengthen the squad.
The remaining 38.5% of Chelsea’s shares is divided equally among Todd Boehly, Hansjörg Wyss, and Mark Walter, who are also members of the ownership consortium. As the situation stands, Clearlake’s reluctance to sell its stake and Boehly’s potential bid for full ownership could lead to a significant showdown between the parties involved.
