Todd Boehly and Clearlake set up takeover talks as Chelsea’s £1.2bn debt revealed
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Chelsea Ownership Turmoil: Rift Between Todd Boehly and Clearlake Capital Raises Financial Concerns
A troubling development has surfaced within Chelsea’s ownership structure as tensions mount between Todd Boehly and Clearlake Capital. After taking over Chelsea in May 2022 for £2.5bn, with an additional £1.75bn committed for future investments, it’s become increasingly apparent that Boehly, often seen as the primary decision-maker at Stamford Bridge, is facing challenges in his authority.
Rising Tensions Between Boehly and Eghbali
In recent days, reports have emerged of a growing rift between Boehly and Clearlake’s key figure, Behdad Eghbali. After a series of expensive and seemingly uncoordinated transfer moves with little return on investment, Eghbali has taken on a more prominent role in Chelsea’s operations. Alongside co-sporting directors Paul Winstanley and Laurence Stewart, Eghbali reportedly influenced the decision to sack manager Mauricio Pochettino, despite an improvement in form during the end of the 2023-24 season.
Chelsea’s Mounting Debt: £1.2bn and Rising
One of the most significant concerns at Chelsea is its financial situation. When the new ownership group took control, the club’s debt owed to Roman Abramovich was wiped. However, according to finance expert Greg Cordell, Chelsea’s debt has climbed back to at least £1.2bn as of June 2023, with the possibility that the actual figure could be even higher. Cordell suggests that the Boehly group, which includes Mark Walter and Hansjörg Wyss, may face the responsibility of absorbing the initial losses due to this growing financial burden.
Internal Power Struggle: Potential Buyout Looms
The financial strain has further complicated the dynamics between the Boehly group and Clearlake Capital. Reports indicate that both factions are considering buying each other out, with ongoing discussions expected in the coming weeks. Matt Lawton from The Times has noted that both sides are deeply entrenched in their positions, making a swift resolution unlikely. Given that the Boehly group holds a smaller stake in the ownership, it may have less leverage in these negotiations. However, there is no clear mechanism for an automatic buyout from Clearlake’s side.
Chelsea’s Uncertain Future
With no immediate solution in sight, Chelsea’s future ownership remains in limbo. Both Boehly and Eghbali are known for their firm negotiation tactics, which could prolong any potential resolution. Until an agreement is reached, Chelsea’s financial and operational stability remains under a cloud of uncertainty, and the outcome of these internal struggles could have significant implications for the club’s future direction.
